CAMBRIDGE, ON, Aug. 5, 2014 /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 deliver C and Ku Band Multiplexers and Coaxial and Waveguide switches to a high throughput satellite.
The initial funding release of $5.6 million is to permit procurement and engineering activities to commence and it is expected that the full contract value will be in excess of $11 million. The full contract is expected to be signed by the end of August 2014. Work will be carried out at the Company's facilities in Cambridge, Ontario and El Segundo, California with completion expected by Oct 2015
"This award comes as the result of our close working relationship with a long-term customer leading to a low mass solution that reinforces our position as an industry leader in the supply of communication satellite equipment," 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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