COM DEV Wins Commercial Contract
CAMBRIDGE, ON, Jan. 14, 2013 /CNW/ - 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 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.
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.
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CO: Com Dev International Ltd. ST: Ontario NI: ARO TLS ORDER
-0- Jan/14/2013 14:10 GMT