|COM DEV operations. From the 2011 Annual Report.|
But while the typical authorization to proceed normally comes only with the promise of future payment, the January 2nd, 2013 theRecord.com article "Com Dev wins contract worth $11 million," stated unequivocally that $5.1 million CDN had also been released by MDA to cover initial engineering and procurement activities relating to the order.
According to the article, the completed contract is expected to be worth $11 million CDN in total.and includes an option for a replacement flight set of equipment that would be worth an additional $10 million CDN. The work will be done in Com Dev’s Cambridge plant and the company said it expects to complete the initial contact by November, 2013.
Expect more details on the deal to come out when COM DEV releases its quarterly earnings report on January 10th.
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