CAMBRIDGE, ON, March 4, 2013 /CNW/ - COM DEV International Ltd. (TSX:CDV), a leading manufacturer of space hardware subsystems, announced that it has won a contract to begin work on the development of an advanced satellite payload that will be used in the next generation of the global search and rescue system known as Cospas-Sarsat.
The Department of Public Works and Government Services Canada has awarded a contract to COM DEV initially worth CDN $4.7 million for the first phase of the Medium Earth Orbit Search and Rescue (MEOSAR) Project. COM DEV's role is to design and develop a repeater that Canada plans to provide as a payload on the next generation of the Global Positioning Satellite (GPS) constellation.
The work is expected to last 15 months and it will be carried out at the Company's Cambridge and Ottawa facilities. The contract includes a $14 million option to extend the development work to produce a fully-integrated prototype MEOSAR repeater for test and space qualification.
"We are pleased to have won another major contract for search and rescue repeaters," said Mike Pley, CEO of COM DEV International. "This project demonstrates Canada's continued commitment to the global search and rescue system. It is also an excellent example of how Canadian space technology can be harnessed for the benefit of all humanity."
COM DEV began the development of its MEOSAR technology in 2008 under a cost-shared R&D project with the Canadian Space Agency. Canada's National Search and Rescue Secretariat then provided additional R&D support through its Search and Rescue New Initiatives Fund because it was recognised that MEOSAR payload technology would help to improve the capabilities of Canada's national search and rescue system. This new GPS MEOSAR Project will benefit from these previous R&D investments by both COM DEV and the Canadian Government.
Cospas-Sarsat was established by Canada, the United States, France, and Russia in the mid-1970s to provide a true global search and rescue system. Once in orbit 22,000 kilometres above the Earth, a MEOSAR Repeater will be able to detect signals from emergency beacons and retransmit the signals to receiver stations on Earth. The emergency messages can then be sent to appropriate authorities so that people in danger can be quickly located and rescued. Since becoming operational in 1982, the Cospas-Sarsat system has helped to save over 33,000 lives around the world. The MEOSAR system that will be implemented will provide faster and more accurate detection of emergency distress signals on a global basis leading to more lives being saved in the future.
About COM DEV
COM DEV International Ltd. (www.comdevintl.com) is a leading global provider of space hardware and services. The company has a staff of 1,300, annual revenues of $208 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 defense 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.
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