From: COM DEV International Ltd
Posted: Wednesday, March 22, 2006
COM DEV International Ltd. today announced that it has been selected to complete a technical study for the Canadian Space Agency's (CSA) planned RADARSAT Constellation mission. Under the contract from MacDonald, Dettwiler & Associates Ltd. (MDA) of Richmond, BC, COM DEV will develop the architecture for the mission critical payload central electronics. The technical study, to be completed at the Company's Cambridge, Ontario facility, is expected to generate $1.7 million of revenue over the next nine months.
"We are very pleased to have established a formal relationship with MDA on this program, and we expect this to contribute to a further strengthening of our position in the Canadian space market," said John Keating, CEO of COM DEV. "We built a significant part of the payload for the original RADARSAT-1 satellite, which is still functioning superbly after 11 years. Being invited to participate at this early stage positions us well for the future on this major, multi-year program."
The RADARSAT Constellation will be a specialized fleet of three Earth Observation satellites designed to complement the CSA's legacy RADARSAT Program by providing more timely and comprehensive data than is currently available. The constellation's objectives include enhancing the tracking of ice in Canada's navigational waters, and supporting safe shipping in the Great Lakes, the St. Lawrence Seaway and along Canada's coastlines. The constellation will also support Canada's contribution to global disaster management and rescue efforts by detecting oil spills, monitoring floods, landslides and eruptions, aiding forest firefighting, and providing information on the evolution of disaster areas worldwide.
The Canadian Government's ongoing commitment to maintain Canada's strong worldwide position in radar satellite surveillance solutions is backed by the allocation of over $200 million of initial funding over the next five years as announced in the 2005 Federal Budget.
About COM DEV
COM DEV International Ltd. (www.comdev.ca) based in Cambridge, Ontario, is the largest Canadian-based designer and manufacturer of space hardware subsystems.
COM DEV, with facilities in Canada and the United Kingdom, manufactures advanced products and subsystems that are sold to major satellite prime contractors for use in communications, space science, remote sensing and military satellites.
COM DEV and COM DEV Space are registered trademarks of COM DEV International Ltd. 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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