[SatNews] COM DEV International Ltd. (TSX:CDV) has secured four orders totaling nearly CAD $10 million to supply microwave equipment for communication satellites for new customers from its recently expanded operations in the UK—deliveries under these contracts will begin in fiscal 2016 and continue to 2018.
COM DEV has made a strategic decision to build on its long-standing UK presence as a means of further extending its global reach. To that end, the Company expanded its UK capacity and capabilities with the acquisition of MESL Microwave in December 2014. These are the first major orders won on the basis of that expansion, and the contracts will be serviced from the Aylesbury and Edinburgh facilities.
The UK government has indicated strong support for the space sector, having set a target of growing exports to £25 billion by 2030, as detailed in its Space Innovation and Growth Strategy. COM DEV views the UK as an increasingly attractive environment for establishing long-term design and manufacturing capabilities.
Due to contractual restrictions, COM DEV is currently unable to provide further details on the customers or the contracts announced today.
"We are very well positioned to win significant further orders this year as we step up our capabilities in the UK," said Rob Spurrett, President of COM DEV's Systems Division. "We have invested significantly in the UK for decades, and particularly in the last six months, and I believe those investment decisions are validated by our strong pipeline of new business. I would like to acknowledge the support of the UK Space Agency, UKTI, and Scottish Enterprise in helping us with our export thrust."