EL SEGUNDO, CA, Sept. 29, 2011 /PRNewswire/ - COM DEV USA, LLC, a subsidiary of COM DEV International Ltd. (TSX: CDV), today announced that it has been awarded a contract to supply equipment for a military communications satellite. Valued in excess of US$5 million, the contract is a follow-on order for an additional flight set of equipment on a satellite program for which the Company is an incumbent supplier. COM DEV USA will be providing filters, diplexers, ferrite devices and switches for the satellite. Work on the contract will be carried out at the Company's facility in El Segundo, California with completion expected by the end of fiscal 2012.
"When COM DEV entered the US military satellite communications market in 2008, our stated intention was to be the tier two supplier of choice for a full range of passive microwave devices into that market. Being the incumbent on a number of continuing milsatcom programs has given us the opportunity to demonstrate ourselves as an outstanding supply chain partner to the prime contractors in this market," said Dan White, president of COM DEV USA. "More importantly, our performance on these programs has resulted in continuing contract awards, and we are grateful for the confidence our customer continues to show in us."
Commenting on this contract award, Michael Pley, CEO of COM DEV International said, "Even as new government programs are delayed by spending restraint, our position as the incumbent supplier on a number of continuing legacy satellite programs, coupled with our demonstrated ability to deliver value to our customer, is providing our US based business with a significant and steady flow of work, which we expect will continue well into the future."
About COM DEV
COM DEV International Ltd. (www.comdevintl.com) is a leading global provider of space hardware and services. With facilities in Canada, the United Kingdom and the United States, COM DEV manufactures advanced 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 defense applications. COM DEV's majority-owned subsidiary, exactEarth Ltd., provides satellite data services.
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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SOURCE Com Dev International Ltd.