|COM DEV Wins Satellite Equipment Contracts||Feb. 23, 2012|
|COM DEV International, a leading manufacturer of space hardware subsystems, announced that it has been awarded three satellite equipment contracts with a combined value in excess of $22 million.
COM DEV's commercial division and its U.S. division each won a contract valued at approximately $10 million. In addition, the commercial group won an Authorization to Proceed (ATP) on a third contract, enabling engineering activity to begin and production to start. The ATP is initially valued at $2.7 million, and is expected to lead to a full contract with a total value in excess of $6 million. Work on all three contracts is expected to be completed over the next 12 months at the Company's facilities in Cambridge, Ontario and El Segundo, California. . All figures are stated in Canadian dollars.
"This is an exciting series of contract wins for us," said Michael Pley, CEO of COM DEV. "We are seeing solid demand for our products in both the commercial space market and the U.S. government market."