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COM DEV Wins Follow-On Contract for U.S. Government Satellite Program
CAMBRIDGE, ON, Nov. 26, 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 a follow-on contract to deliver
active and passive microwave equipment in support of a major U.S.
Government procurement. The funding released is to cover initial
engineering and procurement activities for two additional flight sets
of equipment, with the balance of the contract expected to be placed by
the end of January, 2013. The projected full contract value will be in
excess of $19 million. Work will be carried out at the Company's
facilities in Cambridge, Ontario, and Aylesbury, UK, with project
completion expected by November 2015.
"We are pleased with this contract win which now covers work on six
flights of this program," said Mike Williams, President of COM DEV
International Products in Cambridge. "This demonstrates the reliability
of our equipment and customer's confidence in our ability to achieve
their project goals." Rob Spurrett, President of COM DEV Europe in
Aylesbury, UK added "We are very proud that secure communications
technologies developed in the UK continue to be valued by the US."
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/November2012/26/c3263.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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