COM DEV International Ltd. (TSX:CDV), a leading manufacturer of space hardware subsystems, today announced that it has been awarded a fully-funded contract valued at approximately $6 million to deliver Ku-band equipment, including multiplexers, switches and ancillary equipment to be used on a high throughput communications satellite. The satellite is being built to replace an existing satellite and provide direct-to-home television broadcasting and telecom services throughout Asia. In addition, it will have multiple beams enabling it to provide broadband services in an area encompassing Africa to Russia, Japan and Australia.
Work on the contract will be carried out at the Company’s facility in Cambridge, Ontario with completion expected by October, 2015.
“This satellite project is a reflection of the factors that are still driving growth in our industry: satellite replacement, demand for expanded communications services in the developing world and the global demand for more data capacity and services,” said Mike Williams, President of COM DEV International Products. “Our years of experience with Ku-band equipment and our continued leadership in the industry will enable us to continue to win contracts like this.”
About COM DEV
COM DEV International Ltd. (www.comdev.ca) is a leading global provider of space hardware and services. The company has a staff of 1,200, annual revenues of $216 million, and facilities in Canada, the United Kingdom and the United States. COM DEV designs manufactures, and integrates advanced products, subsystems and microsatellites that are sold to major satellite prime contractors, government agencies and satellite operators, for use in communications, space science, remote sensing and defence applications. The company has won contracts to supply its equipment on over 900 spacecraft. COM DEV’s majority-owned subsidiary, exactEarth Ltd., provides satellite data services for global maritime surveillance.
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.
The triangular logo and the word COM DEV are each registered trademarks and the property of COM DEV Ltd. All rights reserved.
SOURCE Com Dev International Ltd.
For further information:
Gary Calhoun
Chief Financial Officer
Tel: (519) 622-2300 ext. 2826
gary.calhoun@comdev.ca
Craig MacPhail
TMX Equicom
Tel: (416) 815-0700 ext. 290
cmacphail@tmxequicom.com
