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COM DEV Wins Commercial ContractCAMBRIDGE, ON, Nov. 6, 2012, 2012 (Canada NewsWire via COMTEX) -- COM DEV International Ltd. (TSX:CDV), a leading manufacturer of space hardware subsystems, today announced that it has been awarded an Authorization to Proceed (ATP) contract to begin work on a project to deliver Ku-band and Ka-band multiplexers, switches and microwave components. The first funding release of US$7 million is to cover the initial engineering and procurement activities. The components will be used in a communications satellite to provide additional and incremental capacity for Direct-to-Home (DTH) programming. The full contract value is expected to be in excess of US$15 million and work will be carried out at the Company's facility in Cambridge, Ontario with completion expected by March 2014. "We are very pleased with this contract win which reflects the growth we are seeing in the market from the increased demand for broadband capacity and the natural replacement cycle of existing satellites," said Michael Pley, CEO of COM DEV. "This builds on our expertise in Ku-band and Ka-band technology and solidifies our dominant position in the commercial communications satellite industry," added Mike Williams, President of COM DEV International Products. About COMDEV 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. 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. To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/November2012/06/c5303.html SOURCE: Com Dev International Ltd. Gary Calhoun Chief Financial Officer Tel: (519) 622-2300 ext. 2826 [email protected] Craig MacPhail TMX Equicom Tel: (416) 815-0700 ext. 290 [email protected] |