CAMBRIDGE, ON, March 13 /CNW/ - COM DEV International Ltd. (TSX:CDV), a
leading manufacturer of space hardware subsystems, today announced it has been
awarded a number of contracts and authorizations to proceed (ATPs) for work on
a large European commercial satellite program. COM DEV will provide space
electronics and passive microwave equipment including multiplexers, switches
and power combining networks.
The total value of contracts and ATPs awarded to date is $9.4 million.
The conversion of ATPs into full contracts is expected to add a further $10
million to the total value of the orders. Approximately $2 million of revenue
on these orders has already been booked as of the end of January, 2009. All
work is expected to be completed within 18 months at the Company's facilities
in Cambridge, Ontario and Aylesbury, UK. The customer and the satellite
program involved cannot be named at this time because of contractual
requirements to get written permission from the prime contractor and the end
customer.
About COM DEV
COM DEV International Ltd. (www.comdevintl.com) is a leading global
designer and manufacturer of space hardware subsystems. With facilities in
Canada, the United Kingdom and the United States, COM DEV manufactures
advanced products and subsystems that are sold to major satellite prime
contractors for use in communications, space science, remote sensing and
military satellites.
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.
%SEDAR: 00003673E
For further information: Gary Calhoun, Chief Financial Officer, Tel:
(519) 622-2300 ext. 2826, Fax: (519) 622-2158, gary.calhoun@comdev.ca; Jeff
Codispodi, The Equicom Group, Tel: (416) 815-0700 ext. 261, Fax: (416)
815-0080, jcodispodi@equicomgroup.com