CAMBRIDGE, ON, June 21, 2012 /CNW/ - COM DEV International Ltd.
(TSX:CDV), a leading manufacturer of space hardware subsystems, today
announced that it has been awarded three significant contracts to
deliver hardware for commercial and military communications
satellites. The combined value of the contracts is in excess of $11
million. In addition, one of the contracts is initially structured as
an Authorization to Proceed, and is expected to lead to a fully funded
contract valued at a further $3 million, bringing the total expected
value of the three contracts to more than $14 million. All figures are
stated in Canadian dollars.
COM DEV will provide switches, multiplexer assemblies and other passive
microwave equipment for the satellites. Work on the contracts will be
carried out at the Company's facilities in Cambridge, Ontario and El
Segundo, California over the next 18 months.
"These contract awards continue to validate our view that the market for
our core equipment products is healthy," said said Michael Pley, CEO of
COM DEV. "It also demonstrates the faith our repeat customers have in
us to consistently deliver quality hardware on time to meet their
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.
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.
For further information:
Chief Financial Officer
Tel: (519) 622-2300 ext. 2826
The Equicom Group
Tel: (416) 815-0700 ext. 261