COM DEV International, through
Cambridge-based COM DEV Space, one of its two major operating divisions, has
received an Authority to Proceed (ATP) on a multi-program supply agreement
with a major European space contractor to supply high power coaxial switches.
The first order received under the agreement is valued at $2.8 million.
Further orders are expected to follow as the customer wins additional
business. COM DEV Space manufactures advanced products that are sold to the
major satellite prime contractors for use in commercial communications and
earth science satellites.
“This multi-program supply agreement is further recognition by a major
customer of our ability to respond to orders requiring high volume production
of space qualified parts and subsystems,” said John Keating, President of COM
DEV Space. “I am delighted with the opportunity this contract gives us to
further demonstrate our ability to provide competitive products and grow our
long-term relationship with this customer.”
COM DEV is the world’s largest producer of satellite switches for space.
Demand for COM DEV’s satellite switching products has been growing steadily,
driven by strong global demand for larger and more complex geostationary
communications satellites. With the addition of this contract, COM DEV Space’s
order backlog is in excess of $105 million, an increase of over 260% from the
order backlog of $40 million one year ago.
About COM DEV
COM DEV International Ltd. based in Cambridge, Ontario, is a leading
producer of wireless infrastructure, as well as a designer and manufacturer of
space hardware subsystems. The company has two divisions: COM DEV Space and
COM DEV Wireless that operate facilities in Canada, the United States and the
United Kingdom.
COM DEV Space manufactures advanced products and subsystems that are sold
to major satellite prime contractors for use in commercial communications,
earth science and space exploration satellites. COM DEV Space products
directly enable communication satellite applications like telephony, direct-to-
home TV, mobile telephony, satellite broadcast service and the delivery of
interactive multimedia services. COM DEV Space’s advanced capabilities in
complex subsystems are key elements of various interplanetary and earth
monitoring space missions.
COM DEV Wireless designs and manufactures leading-edge wireless systems
and subsystems.
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 the wireless
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.
Media and Investor Contact: Ron Holdway,
VP, Corporate Communications, Tel: (519) 622-5004, Fax: (519) 622-1691,
E-mail: investor.relations@comdev.ca, Website: www.comdev.cc
Analyst
Contact: Tim Zahavich, Chief Financial Officer, Tel: (519) 622-2300 ext. 2288,
Fax: (519) 622-2158, E-mail: tim.zahavich@comdev.ca
