COM DEV International Ltd. (TSX: CDV – News) today announced its Canadian and UK divisions collectively concluded contracts with various divisions of the same Asian customer totaling more than $9 million (US $7.35 million) to provide equipment including microwave switches, ancillaries and other satellite components. The contract work will be carried out at COM DEV’s facilities in Canada and the UK over a period of 11 months.
Commenting on these new contracts, COM DEV CEO John Keating drew attention to the civil nature and geographic location of the contracts as further evidence of COM DEV’s continuing success in diversifying its customer base to include the emerging Asian market. Over the past three years, Asian business has become a significant and growing part of our backlog.
All noted contracts are subject to export permit approval. Approval status is pending for some contracts and is anticipated to be received in due course.
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.
