CAMBRIDGE, ON, Dec. 31, 2014 /CNW/ - COM DEV International Ltd. (TSX: CDV), a leading manufacturer of space hardware subsystems, today announced an expansion to a previously announced contract to provide Ku-band equipment for a high throughput communications satellite. Additional multiplexers, switches and ancillary equipment have been ordered for an approximate added value of $7 million, bringing the total contract value to approximately $13 million. The initial contract was announced in October 2014.
Work on the contract will be carried out at the Company's facility in Cambridge, Ontario with completion expected by January 2016.
"Our long-term relationship with the client, along with our acknowledged expertise in Ku-band components, has enabled us to win this expanded mandate," said Mike Williams, President of COM DEV International Products. "We are also very pleased to start 2015 with a strong order flow."
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.
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SOURCE: Com Dev International Ltd.