Canada's Com Dev Itching for an Acquisition amid Shrinking U.S. Losses

摘要

Satellite component builder Com Dev International of Canada on June 5 said it has cut costs and reduced losses at its U.S. operation following the decline in military satellite orders and that the Canadian parent is confident of making an acquisition in the coming months. Among the acquisition targets are component makers in Southern California, near Com Dev USA's El Segundo plant. "We have a fair number of them in the funnel right now and I would hope to be able to announce something before the end of the fiscal year," Com Dev Chief Executive Mike Pley said during a conference call with investors. Com Dev's fiscal year ends Oct. 31.