COM DEV Wins Follow-On Contract for U.S. Government
CAMBRIDGE, ON - 26 November, 2012 ? COM DEV International Ltd. (TSX:CDV), a leading manufacturer of space hardware subsystems, today announced that it has been awarded a follow-on contract to deliver active and passive microwave equipment in support of a major U.S. Government procurement. The funding released is to cover initial engineering and procurement activities for two additional flight sets of equipment, with the balance of the contract expected to be placed by the end of January, 2013. The projected full contract value will be in excess of $19 million. Work will be carried out at the Company's facilities in Cambridge, Ontario, and Aylesbury, UK, with project completion expected by November 2015.
"We are pleased with this contract win which now covers work on six flights of this program," said Mike Williams, President of COM DEV International Products in Cambridge. "This demonstrates the reliability of our equipment and customer's confidence in our ability to achieve their project goals." Rob Spurrett, President of COM DEV Europe in Aylesbury, UK added "We are very proud that secure communications technologies developed in the UK continue to be valued by the US."
About COM DEV
COM DEV International Ltd. (www.comdevintl.com) is a leading global designer and manufacturer of space hardware subsystems. With facilities in Canada, the United Kingdom and the United States, COM DEV manufactures advanced products and subsystems that are sold to major satellite prime contractors for use in communications, space science, remote sensing and military satellites.
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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.
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