COM DEV International Ltd., a leading manufacturer of space hardware subsystems, today announced that it has been awarded an authorization to proceed (ATP) to provide switches, multiplexers and filters for two commercial communications satellites. The ATP, valued at CDN$500,000, is expected to lead to a full contract valued in excess of CDN$9 million. In addition, COM DEV has provided its customer with an option to order similar equipment for a third satellite. COM DEV expects to complete work on the first two satellites within approximately the next 15 months at its facilities in Cambridge, Ontario.
"We are pleased to begin work on this program for one of our longstanding customers," said John Keating, CEO of COM DEV International. "The commercial satellite market has remained robust in 2010, and we are actively bidding on a number of additional contracts."
About COM DEV
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.
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