CAMBRIDGE, ON, Aug. 5, 2014 /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)
contract to deliver C and Ku Band Multiplexers and Coaxial and
Waveguide switches to a high throughput satellite.
The initial funding release of $5.6 million is to permit procurement and
engineering activities to commence and it is expected that the full
contract value will be in excess of $11 million. The full contract is
expected to be signed by the end of August 2014. Work will be carried
out at the Company's facilities in Cambridge, Ontario and El Segundo,
California with completion expected by Oct 2015
"This award comes as the result of our close working relationship with a
long-term customer leading to a low mass solution that reinforces our
position as an industry leader in the supply of communication satellite
equipment," said Mike Williams, President of COM DEV International
About COM DEV
COM DEV International Ltd. (www.comdev.ca) is a leading global provider of space hardware and services. The
company has a staff of 1,200, annual revenues of $216 million, and
facilities in Canada, the United Kingdom and the United States. COM DEV
designs manufactures, and integrates advanced products, 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 defence applications. The company has
won contracts to supply its equipment on over 900 spacecraft. COM DEV's
majority-owned subsidiary, exactEarth Ltd., provides satellite data
services for global maritime surveillance.
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
Tel: (416) 815-0700 ext. 290