CAMBRIDGE, ON, Jan. 8 /CNW/ - COM DEV International Ltd. (TSX:CDV), a leading manufacturer of space hardware subsystems, today announced that it has been awarded a contract valued in excess of US$7 million to provide passive microwave equipment for a commercial communications satellite. COM DEV will supply switches, filters and multiplexers for use on the spacecraft. The Company expects to complete work on the contracts within the first half of its 2011 fiscal year at its facility in Cambridge, Ontario.
In the course of negotiating this contract, COM DEV has provided the customer with pricing for similar work on three additional satellites that the customer has been awarded on various programs. The customer may elect to exercise its options by awarding additional contracts to COM DEV within the next three months.
"This contract demonstrates yet again that we have been successful in winning new business in a commercial communications satellite market that has remained very robust," said John Keating, CEO of COM DEV International. "We appreciate the confidence this longtime customer has shown in awarding us a significant amount of work on this satellite, as well as considering us for additional work."
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.
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SOURCE COM DEV International Ltd.
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