CAMBRIDGE, ON, May 28, 2014 /CNW/ - COM DEV International Ltd. (TSX:CDV), a leading manufacturer of space hardware subsystems, today announced that it has been awarded a contract to deliver Coaxial and Waveguide switches, as well as C-Band Multiplexers. The initial funding release is to permit engineering activities and it is expected that the full contract value will be in excess of $5 million. The full contract is expected to be signed by the end of June 2014.
Work on the contract will be carried out at the Company's facility in Cambridge, Ontario with completion expected by June 2015.
"This award of core business products with a long-term customer reflects the strength our excellent working relationship and our position as a leading supplier of communication satellite components" said Mike Williams, President of COM DEV International Products.
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.
SOURCE: Com Dev International Ltd.
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