CAMBRIDGE, ON, March 15 /CNW/ - COM DEV International Ltd. (TSX:CDV), a leading manufacturer of space hardware subsystems, today announced that it has been awarded an authorization to proceed (ATP) to provide switches, filters and multiplexers for a commercial communications satellite. The ATP, valued at US$1.2 million, is expected to lead to a full contract valued in excess of US$8 million. The Company expects to complete work on the contract within the first half of calendar 2011 at its facility in Cambridge, Ontario.
The contract is a follow-on order resulting from an agreement announced in January, 2010, under which COM DEV provided the customer with pricing terms for equipment on multiple satellites.
"This is the third major contract with this particular customer that we have announced this year," said John Keating, CEO of COM DEV International. "I believe the repeat business is a testament to the value and reliability we are able to offer."
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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