COM DEV International Ltd. (TSX: CDV) today announced that it has been awarded a $12.3 million dollar contract by MacDonald, Dettwiler and Associates Ltd. (MDA) to deliver the payload for Project SAPPHIRE, the first dedicated space mission for Canada’s Department of National Defence (DND). The work will be carried out at the Company’s facilities in Cambridge, Ontario, and is expected to be complete in approximately two years. Having previously received an Authorization to Proceed on this program, the Company has included approximately $1.2 million of the contract value among the new orders reported in prior periods.
SAPPHIRE’s mission will be to continuously monitor the location of man-made objects and space debris in medium to high earth orbits – 6,000 to 40,000 kilometers. COM DEV will develop the satellite’s optical payload consisting of a telescope for the imaging of distant objects, and a radiation resistant electronics sub-system that digitizes the images, performs computations and transmits the compressed data to a DND ground station. Through very low noise electronics and a compact, efficient telescope, the SAPPHIRE payload will be able to view and image objects that are far fainter than the dimmest object detectable by the human eye.
“Being selected by MDA to supply payload equipment for Project SAPPHIRE represents another important milestone in our continuing efforts to grow our civil and military space business,” said John Keating, CEO of COM DEV International. “We believe this DND program demonstrates the kind of opportunity that new space technology on small platforms offers many Canadian government departments to provide new, highly cost-effective solutions for the delivery of public policy requirements. This contract complements the strong relationship we enjoy with DND and further enhances our close and growing partnership with MDA.”
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.
COM DEV, COM DEV International Products, COM DEV USA, COM DEV Canada and COM DEV Europe 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
