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Com Dev wins $15M order for satellite parts

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Published on May 1, 2012; Published on May 1, 2012
The Canadian Press ~ OBJ

Com Dev International Ltd. (TSX:CDV) said Tuesday it has won a $15-million contract for components to be used on two commercial satellites providing high-speed broadband service to rural and remote areas of Australia.

Topics :: Com Dev , Toronto Stock Exchange , Ontario

Trading in Com Dev shares was halted pending the announcement, which the company called a record contract amount for its switch business.

The stock was unchanged at $2.51 Tuesday afternoon on the Toronto Stock Exchange.

The company said work on the contract will be done at its Ontario plant and is expected to be completed by July 2013.

Com Dev builds subsystems and other technology for major satellite contractors, government agencies and satellite operators.

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