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COM DEV Wins Commercial Contract
CAMBRIDGE, ON, Nov. 6, 2012, 2012 (Canada NewsWire via COMTEX) --
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 begin work on a project to deliver Ku-band and Ka-band
multiplexers, switches and microwave components. The first funding
release of US$7 million is to cover the initial engineering and
procurement activities. The components will be used in a communications
satellite to provide additional and incremental capacity for
Direct-to-Home (DTH) programming. The full contract value is expected
to be in excess of US$15 million and work will be carried out at the
Company's facility in Cambridge, Ontario with completion expected by
March 2014.
"We are very pleased with this contract win which reflects the growth we
are seeing in the market from the increased demand for broadband
capacity and the natural replacement cycle of existing satellites,"
said Michael Pley, CEO of COM DEV.
"This builds on our expertise in Ku-band and Ka-band technology and
solidifies our dominant position in the commercial communications
satellite industry," added Mike Williams, President of COM DEV
International Products.
About COMDEV
COM DEV International Ltd. (www.comdevintl.com) is a leading global designer and manufacturer of space hardware
subsystems. With facilities in Canada, the United Kingdom and the
United States, COM DEV manufactures advanced products and subsystems
that are sold to major satellite prime contractors for use in
communications, space science, remote sensing and military satellites.
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.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/November2012/06/c5303.html
SOURCE: Com Dev International Ltd.
Gary Calhoun Chief Financial Officer Tel: (519) 622-2300 ext. 2826
gary.calhoun@comdev.ca Craig MacPhail TMX Equicom Tel: (416) 815-0700 ext. 290
cmacphail@tmxequicom.com
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