By The Canadian Press
CAMBRIDGE, Ont. - Space hardware manufacturer Com Dev International Ltd. (TSX:CDV) has agreed to provide equipment for an unspecified commercial communications satellite in a transaction that's expected to be worth more than US$11 million.
The Cambridge, Ont.-based company said Tuesday that the initial payment will be about $3 million and is intended to get the engineering project rolling and production under way.
The full value of the contract will be finalized by March, with the company providing L band switches, multiplexers and filters for the satellite.
Com Dev said it will carry out the contract for the satellite, which will be used to carry wireless signals, at its Cambridge facility with a target completion date sometime in midst of fiscal 2012.
"Commercial satellite communications continues to be a robust market in which Com Dev is demonstrating how cost effective its products are by a healthy influx of orders this year," said chief executive Michael Pley in a release.
"This order adds to our growing commercial backlog and demonstrates the faith our customers have in us to quickly deliver products of the highest quality."
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