COM DEV USA, LLC, a subsidiary of COM DEV International Ltd. (TSX: CDV), today announced that it has been awarded a $1.6 million Authorization to Proceed (ATP) to supply passive microwave components for a U.S. Government civil space program. The design and production work will be performed at the Company’s manufacturing facility in El Segundo, California. The ATP is expected to lead to a full contract valued in excess of $18 million, with delivery anticipated by the end of COM DEV’s 2010 fiscal year. (All figures are in US dollars.)
ADVERTISEMENT The ATP represents COM DEV USA’s first production win since it acquired an established passive microwave devices business in May, 2008 and began transferring the operations into its recently purchased El Segundo location. The transfer process has included extensive customer reviews designed to verify that the new production environment is suitable for continued work on ongoing programs. In selecting COM DEV to work on a major program, the customer has demonstrated its confidence that the Company is prepared to complete a significant program from its new facility.
“This award marks a key milestone for our company,” said Dan White, President of COM DEV USA. “Our customer has thoroughly assessed our capabilities and has confidence in our long-term stability and readiness to successfully complete a project of this scale. With a strong pipeline of opportunities ahead, we believe we are well positioned to establish ourselves as the leading domestic supplier of passive microwave equipment for the government space market.”
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 Canada, COM DEV USA 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.
