CAMBRIDGE, ON, Sept. 4, 2012 /CNW/ - COM DEV International Ltd. (TSX:CDV), a leading manufacturer of space hardware subsystems, today announced that it has been awarded an Authority to Proceed (ATP) contract to begin work on equipment for two commercial communications satellites, with options for two additional satellites. The ATP, which covers preliminary engineering and materials procurement, is valued at $5 million. The full contract value is expected to be in excess of $14 million, with the potential to increase to more than $26 million if the customer exercises all options. COM DEV will provide C and Ku band multiplexers, switches and microwave components. The contract is expected to be fully executed by the end of October, 2012, with delivery scheduled for November, 2013.
"It is exciting to win another multi-satellite contract," said Mike Williams, President of COM DEV International Products. "It is further evidence that we have a very effective program for developing high performing, low cost products that match the needs of the demanding commercial marketplace."
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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SOURCE: Com Dev International Ltd.
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