CAMBRIDGE, ON, Oct. 1, 2014 /CNW/ - COM DEV International Ltd. (TSX:CDV), a leading manufacturer of space hardware subsystems, today announced at a ceremony held at the 65th International Astronautical Congress 2014 in Toronto, that it has signed a contract with the Antrix Corporation (the commercial arm of the Indian Space Research Organization (ISRO)) to launch the M3M satellite on the Polar Satellite Launch Vehicle from India in 2015. The ceremony was witnessed by Dr. V.S. Hegde, Chairman and Managing Director of Antrix, and General (retired) Walter Natynczyk, President of the Canadian Space Agency (CSA).
The M3M satellite was constructed by COM DEV under contract from the Canadian Space Agency/Public Works Government Services Canada for Defence Research and Development Canada and is also subject to a commercial data sharing licence with exactEarth Ltd., a joint venture between COM DEV International Ltd. (73%) and Hisdesat Servicios Estratégicos S.A. (27%).
Michael Pley, CEO of COM DEV International Ltd. said, "This contract reflects a monumental effort between COM DEV and Antrix, and between COM DEV and the CSA, to close out our original contract and secure the most rapid replacement launch for the M3M satellite, which was withdrawn from its original launch slot on the Russian Soyuz rocket in July this year."
Peter Mabson, President of exactEarth Ltd., added, "We applaud the Canadian government and COM DEV for moving so rapidly to address this issue and are pleased with the selection of ISRO, which also launched our NTS satellite in April of 2008, the world's first commercial AIS ship tracking satellite."
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.
Image with caption: "Dr. V.S. Hegde, Chairman and Managing Director of Antrix (left) and Michael Pley, CEO of COM DEV International (right), at a signing ceremony held at the 65th International Astronautical Congress 2014 in Toronto on October 1, 2014. Antrix Corporation, the commercial arm of the Indian Space Research Organization, will launch the M3M satellite on the Polar Satellite Launch Vehicle from India in 2015 (CNW Group/Com Dev International Ltd.)". Image available at: http://photos.newswire.ca/images/download/20141001_C7004_PHOTO_EN_42937.jpg
SOURCE: Com Dev International Ltd.
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