COM DEV International Ltd. today
announced it has concluded contract negotiations and agreements with EADS
Astrium Limited, for work on two satellites being built for Skynet 5, a
pnds stlg 2.5+ Billion, 15-year, UK military communications service delivery
program. COM DEV had previously announced that it had received Authorities To
Proceed (ATP’s) with work on this program. The successful conclusion of these
negotiations will result in an increase in the Company’s order book for this
program in the amount of approximately $19.5 Million CDN, as the Company had
previously booked only the amounts authorized under the various ATP’s received
from the customer. The total value of the contract is expected to be
approximately $26 Million USD (approximately $36.2 Million CDN).
This work leverages on and expands to military frequencies and
applications, COM DEV’s technology and heritage in its core payload
electronics, switch and multiplexer products, and is to be completed over 26
months at COM DEV’s facilities in Cambridge, Ontario and Aylesbury, UK.
Possible additional work on the two satellites is still under negotiation.
Commenting on this contract, COM DEV’s CEO, John Keating said, “This is
one of the largest space contracts ever won by COM DEV. It marks a new
milestone in the growth of our enduring relationship with EADS Astrium. It
also represents a major step in our strategy to broaden our market base beyond
the commercial space business that until recently dominated our order book.”
The prime contractor of the Skynet 5 program is Paradigm Secure
Communications (http://www.paradigmsecure.com), which was formed by EADS
Astrium in 1999 to bid for the Skynet 5 programme, which entails ownership and
operation of Skynet 4/5 satellites and ground systems in order to deliver
milsatcom services to the UK Armed Forces. Paradigm Secure Communications is
wholly owned by EADS, the European Aeronautic Defence and Space Company.
Further details of the contract and the Skynet 5 Program can be found at
(http://www.paradigmsecure.com/news/press_releases/index.php?id(equal sign)22)
and
(news.mod.uk/news/press/news_press_notice.asp?newsItem_id(equal sign)2664).
EADS Astrium ( www.astrium.eads.net ) is wholly owned by EADS SPACE, one
of the few organizations worldwide to offer complete end-to-end civil and
military satellite communications and surveillance capabilities. In 2002 EADS
SPACE had a turnover of 2.2 Billion Euros and 12,300 employees in France,
Germany, the United Kingdom and Spain. EADS Astrium’s satellite business
activities cover complete civil and military telecommunications and Earth
Observation systems, Science and Navigation programs, and all spacecraft
avionics and equipment.
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.
