CAMBRIDGE, ON, Sept. 25 /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) on integrated multiplexer and switch assemblies for a commercial communications satellite. The ATP, valued at US$1.5 million, is expected to lead to a full contract valued in excess of US$5 million. In addition, the contract assures COM DEV of similar work on up to three additional satellites that are expected to be ordered by the same end customer within the next five years, bringing the potential total value to over US$20 million. COM DEV expects to complete work on the first satellite within approximately one year at its Cambridge, Ontario facility.
"The commercial communications satellite market remains very robust, as satellite operators look to replace existing spacecraft, or in this case, add capacity to address high growth service areas," said John Keating, CEO of COM DEV International. "I believe our ability to provide a high level of integration of equipment was an important factor in our customer's decision to select us for this contract."
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.
SOURCE COM DEV International Ltd.
For further information: For further information: Gary Calhoun, Chief Financial Officer, Tel: (519) 622-2300 ext. 2826, Fax: (519) 622-2158, firstname.lastname@example.org; Jeff Codispodi, The Equicom Group, Tel: (416) 815-0700 ext. 261, Fax: (416) 815-0080, email@example.com