CAMBRIDGE, ON, April 16, 2012 /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 begin work on hardware for a broadband Ka band commercial satellite providing communications coverage across the Middle East, Africa and Asia. The ATP covers engineering design activity and is valued at approximately US$1 million. It is expected that the full contract value will be in excess of US$8 million. COM DEV will provide Coax and waveguide switches, Ku & Ka band IMUX and OMUX assemblies, input filters and coupler assemblies. Work on the contract will be carried out at the Company's facility in Cambridge, Ontario with completion expected by the end of fiscal 2013.
"This satellite is an example of new capacity being added to meet growing demand in emerging markets," said Michael Pley, CEO of COM DEV. "We are seeing an increase in activity in the satellite communications markets across all sectors - commercial, civil and military. Our team has been very active in the bidding process, and we expect this to result in increased order levels as the year goes on."
"This is an exciting win, achieved through our ongoing development of high technology products, and it solidifies our leading position in the emerging growth market of high throughput satellites," said Mike Williams, President of COM DEV International Products.
About COM DEV
COM DEV International Ltd. (www.comdevintl.com) is a leading global provider of space hardware and services. With facilities in Canada, the United Kingdom and the United States, COM DEV manufactures advanced 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. COM DEV's majority-owned subsidiary, exactEarth Ltd., provides satellite data services.
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.
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