TORONTO—Com Dev International announced it is divesting its wireless division. The Cambridge, Ontario-based developer of wireless infrastructure and satellite hardware subsystems said it took a non-cash C$57.8 million (US$36.5 million) charge for the writedown and a C$14.1 million (US$8.9 million) exit cost provision in its latest quarter.
The shuttering of its wireless division triggered a C$103.9 million (US$65.6 million) loss for its fiscal year 2001. The company’s gear used in cellular communications base stations has fallen because customers, including Nortel Networks, have curtailed orders with the market downturn.
