$31 Million Order Covering Fourteen Satellites
Space Division Receives Largest Filter Order in its History
CAMBRIDGE, ON, Nov. 2 /CNW/ - COM DEV International Ltd. (TSE: CDV) today
announced that its wholly owned COM DEV Space division has concluded
negotiations and received an Authority to Proceed (ATP) with work on a
contract that is expected to be worth US$20.7 million (CDN$31.6M), to produce
microwave filter subsystems for a major North American space contractor. The
agreement calls for the formal contract to be signed within 30 days. The COM
DEV equipment will be used on fourteen satellites being built by the customer
for an International satellite operator. The contract also includes an option
for the customer to acquire additional equipment for as many as six more
satellites. Under this contract COM DEV will deliver over 3700 filter
subsystems over the next 14 months. The work will be split between COM DEV
Space's Canadian plant in Cambridge, Ontario and its Aylesbury, UK facility.
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 contract is a major accomplishment," said John Keating, President
of COM DEV Space. "We were selected for this program because of our state-of-
the-art filter design technology and our automated production and testing
capability. No other company has COM DEV's experience in volume production of
space equipment."
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. System products include soft radios, broadband wireless
Internet products and TDMA Base Stations. Subsystem products integrate signal
filtering, signal amplification and alarm monitoring in a single compact
electronics package. COM DEV Wireless' new M/ERGY mobile high-speed wireless
Internet system will deliver data to home and small business users at costs
and speeds comparable to current cable and DSL modems.
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.
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For further information: Investor and Media Contact: Ron Holdway, VP,
Corporate Communications, Tel: (519) 622-5004, Fax: (519) 622-1691,
investor.relations@comdev.ca, Website: www.comdev.ca; Analyst Contact: Tim
Zahavich, Chief Financial Officer, Tel: (519) 622-2300 ext. 2288, Fax:
(519) 622-2158, tim.zahavich@comdev.ca;
To request a free copy of this organization's annual report, please go to
www.newswire.ca and click on reports@cnw. |
