COM DEV International Ltd. (TSX: CDV) today announced that it has received an Authorization to Proceed (ATP) from Alcatel Alenia Space to provide advanced payload electronics for the Globalstar-2 satellite constellation. The ATP is valued at $3.5 million (USD) and is expected to lead to a contract with a total value in excess of $20 million (USD). Globalstar has announced plans to launch 48 satellites to integrate with and eventually replace its first generation constellation, which provides satellite voice and data services to over 120 countries on six continents.
“We are pleased to be selected to participate in the second generation of one of the world’s major satellite communications constellations,” said John Keating, CEO of COM DEV. “This program marks a significant milestone in our growing relationship with Alcatel Alenia Space.” COM DEV will announce full details of the contract once it has been finalized.
About COM DEV
COM DEV International Ltd. (www.comdev.ca), based in Cambridge, Ontario, is the largest Canadian-based designer and manufacturer of space hardware subsystems.
COM DEV, with facilities in Canada and the United Kingdom, manufactures advanced products and subsystems that are sold to major satellite prime contractors for use in communications, space science, remote sensing and military satellites.
COM DEV and COM DEV Space are registered trademarks of COM DEV International Ltd. 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.
For further information
Gary Calhoun, Chief Financial Officer, Tel: (519) 622-2300 ext. 2826, Fax: (519) 622-2158, gary.calhoun@comdev.ca
Jeff Codispodi, The Equicom Group, Tel: (416) 815-0700 ext. 261, Fax: (416) 815-0080, jcodispodi@equicomgroup.com
