CAMBRIDGE, ON, Feb. 21, 2012 /CNW/ - COM DEV International Ltd. (TSX:
CDV), a leading manufacturer of space hardware subsystems, announced
that it has been awarded three satellite equipment contracts with a
combined value in excess of $22 million. All figures are stated in
COM DEV's commercial division and its U.S. division each won a contract
valued at approximately $10 million. In addition, the commercial group
won an Authorization to Proceed (ATP) on a third contract, enabling
engineering activity to begin and production to start. The ATP is
initially valued at $2.7 million, and is expected to lead to a full
contract with a total value in excess of $6 million. Work on all three
contracts is expected to be completed over the next 12 months at the
Company's facilities in Cambridge, Ontario and El Segundo, California.
"This is an exciting series of contract wins for us," said Michael Pley,
CEO of COM DEV. "We are seeing solid demand for our products in both
the commercial space market and the U.S. government market."
About COM DEV
COM DEV International Ltd. (www.comdevintl.com) is a leading global
provider of space hardware and services. With facilities in Canada,
the United Kingdom and the United States, COM DEV manufactures advanced
subsystems and microsatellites that are sold to major satellite prime
contractors, government agencies and satellite operators, for use in
communications, space science, remote sensing and defense applications.
COM DEV's majority-owned subsidiary, exactEarth Ltd., provides
satellite data services.
This news release may contain certain forward-looking statements that
involve risks and uncertainties. Actual results may differ materially
from results indicated in any forward-looking statements. The Company
cautions that, among other things, in view of the rapid changes in
communications markets and technologies, and other risks including the
cost and market acceptance of the Company's new products, the level of
individual customer procurements and competitive product offerings and
pricing, and general economic circumstances, the Company's business
prospects may be materially different from forward-looking statements
made by the Company.
The triangular logo and the word COM DEV are each registered trademarks
and the property of COM DEV Ltd. All rights reserved.
SOURCE Com Dev International Ltd.
For further information:
Chief Financial Officer
Tel: (519) 622-2300 ext. 2826
The Equicom Group
Tel: (416) 815-0700 ext. 261