CAMBRIDGE, ON, April 8, 2015 /CNW/ - COM DEV International Ltd. (TSX:CDV), a leading manufacturer of space hardware subsystems, today announced that it has received a $2.6 million contract extension on activities associated with the James Webb Space Telescope program.
The investment by the Government of Canada, through the Canadian Space Agency (CSA), will help integrate Canadian instruments into the telescope and directly support all test activities with the instruments in preparation for the telescope's launch in October 2018. COM DEV will continue to assist with the integration of the two science instruments it built for the telescope: the Fine Guidance Sensor (FGS) and the Near-Infrared Imager and Slitless Spectrograph (NIRISS).
The investment was announced by James Moore, Minister of Industry, at a recent event at Elgin Street Public School in Ottawa.
- Click here to view the Canadian Space Agency's news release.
- Click here to view a brief video of the event, featuring remarks by Minister Moore and CSA Astronaut, Jeremy Hansen.
"After well over a decade of working on the James Webb Space Telescope, in close collaboration with the CSA and the science team, our team is very excited to see it through these final stages of integration. This has been the single largest program in COM DEV's history, and we have been proud to contribute to an observatory that will enable such important advances in our understanding of the universe," said Mike Pley, CEO of COM DEV.
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 $208 million, and facilities in Canada, the United Kingdom the United States, India, and China. 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: Gary Calhoun, Chief Financial Officer, Tel: (519) 622-2300 ext. 2826, [email protected]; Jeff Codispodi, Director, Investor Relations & Communications, Tel: (519) 622-2300 ext. 2844, [email protected]