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COM DEV Wins Commercial Contract
CAMBRIDGE, ON, Jan. 14, 2013, 2013 (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 deliver Ku-band and Ka-band multiplexers, switches and
microwave components. The initial funding release of $3 million is to
cover initial procurement activities. The full contract award is
expected early in 2013 and will have a value in excess of $16 million.
Work on the contract will be carried out at the Company's facility in
Cambridge, Ontario with completion expected by March 2014.
"This significant contract win at the beginning of the year demonstrates
the solid momentum we identified in 2012," said Michael Pley, President
and CEO. "We expect that our strong product offering along with our
customer relationships will drive continued growth in 2013."
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/January2013/14/c5610.html
SOURCE: Com Dev International Ltd.
Contact information: 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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