Mr. Speaker, through strategic investments in research and development, COM DEV International of Cambridge has established itself as an international leader in the design and production of equipment for satellite payloads. Eighty per cent of its annual revenues are from exports which demonstrates an ability to compete in the global economy. It illustrates how Canadians with vision can succeed.
Founded in Canada and Canadian owned, it has grown from a small start-up company to one which employs over 1,000 people with facilities in Canada, Europe and Asia. Its equipment has been chosen to fly on over 300 satellites. Its customers include NASA and all major commercial prime contractors. In 1996 alone, COM DEV created over 200 new jobs.
COM DEV is Canada's premier supplier of satellite payload equipment. This business success story needs to be recognized. COM DEV continues to boldly face the future with continued R and D, capital investment and expansion into new markets. We must all work together to help companies such as COM DEV to continue to succeed and generate economic wealth for Canada.
Merry Christmas.