Corporate | 4 December 2007 11:06
OHB Technology AG / Miscellaneous
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
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A new start for Galileo: OHB and SSTL ready to meet the challenge
Bremen, December 4, 2007. OHB Technology AG of Bremen (Prime Standard,
ISIN: DE0005936124), Germany and SSTL located in Guildford, UK welcome the
decision on Galileo taken by the European Transport Council. Both companies
are strongly supportive of the new start given to Galileo, with improved
rules of governance, and a balanced industrial scheme strengthening
competition and allowing dual-sourcing. OHB and SSTL are now delighted to
announce in that context that the two companies have signed an agreement to
work together on the Galileo programme. While OHB will act as prime
contractor and supply the satellites platforms, SSTL will supply the
satellites payloads.
Now that Galileo is to be publicly funded, this opportunity to re-introduce
competition has arisen and the public sector needs to grasp the opportunity
by allowing competitive tendering. The team is committed to propose a very
competitive offer for the satellites. Marco R. Fuchs, CEO of
OHB-Technology, commenting on the European Transport Council decision,
stated: 'The possibility of dual–source procurement is a very attractive
solution for the public institutions, in order to keep prices down and to
secure supply in the long term. We appreciated the support of the German
government in their willingness to reach the appropriate compromise to
enable a positive decision of the Council. We are definitely committed to
supporting the Galileo procurement process.'
OHB brings experience from prime contractorship of the German SAR-Lupe
constellation of five military radar reconnaissance satellites built under
contract from the German Ministry of Defence. The SAR-Lupe satellites are
of the 700-kg class (identical to Galileo). The programme was conducted on
time and on budget, for an overall amount of EUR 315 million, including
ground segment and launches. Three satellites are already operational, the
remaining two will be launched in 2008. OHB is also responsible for the
construction of seven new ORBCOMM satellites for the commercial ORBCOMM
constellation.
SSTL brings experience gained through the successful GIOVE-A mission, the
only Galileo satellite to be launched so far. GIOVE-A was developed under a
EUR 28 million contract signed with ESA in the second half of 2003. The
mission’s primary aim was to broadcast Galileo signals from space so that
Europe could claim the frequencies filed for Galileo with the International
Telecommunications Union (ITU). The satellite was designed, built, tested
and launched before the end of 2005 – on-time and on-budget. GIOVE-A has
transmitted Galileo signals for over 22 months. Following the success of
GIOVE-A, ESA placed a further contract with SSTL in March 2007 for a second
satellite named GIOVE-A2.
The full operational capability of Galileo requires the construction of 26
satellites, and additional ones will be needed in longer term for the
refurbishment of the constellation. Given this number of satellites it is
essential for the public sector to have an enduring competitive industrial
supply of satellites. Commenting on the agreement, Sir Martin Sweeting,
chairman of SSTL’s board of directors, stated: 'The OHB-SSTL team’s aim is
to offer Europe a second source of operational satellites. We can bring the
benefits of our experience to space to Galileo in order to deliver high
quality satellites at reasonable cost within the given time frame'.
Lowering the cost of Galileo is one of several benefits that the
collaboration can bring. The team has a proven ability to rapidly deploy
space systems which will also help to quicken the pace of the programme.
Rapid deployment of the first batch of satellites will establish Galileo in
the marketplace and allow the European citizen to start deriving benefit
from the system. There is a clear need for an initial service to be
provided as soon as possible to allow the development of Galileo user
applications and equipment and hence ensure the future value of the
complete system.
Galileo is a joint initiative between ESA and the European Commission.
About OHB Technology AG
OHB Technology AG is the first listed technology and space company in
Germany (ISIN: DE0005936124; Prime Standard). With a total of more than
1,200 employees, its four business units 'Space Systems + Security',
'Payloads + Science', 'Space Transportation + Aerospace Structures' and
'Telematics + Satellite Operations' develop and produce solutions for
national and international customers. Thanks to the successful combination
of space technology and telematics skills backed by just on 25 years of
experience in high-tech engineering, OHB Technology AG holds an excellent
position in Europe.
About Surrey Satellite Technology Ltd
Surrey Satellite Technology Ltd (SSTL) develops innovative technologies to
change the economics of space, delivering cost effective satellite missions
within rapid timescales. The Company is a world leader in the design,
manufacture and operation of high performance small satellites with
experience gained over more than 25 years and 27 missions launched. SSTL
employs 270 staff working on LEO, GEO and interplanetary missions, turnkey
satellite platforms and space-proven satellite subsystems and optical
systems.
Contact:
OHB Technology AG
Michael Vér, Investor Relations
Karl-Ferdinand-Braun-Str. 8
28359 Bremen / Germany
Tel.: +49 (0)421 2020-8
Fax: +49 (0)421 2020-613
Internet: http://www.ohb-technology.de
E-Mail: ir@ohb-technology.de
04.12.2007 Financial News transmitted by DGAP
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Language: English
Issuer: OHB Technology AG
Karl-Ferdinand-Braun-Str. 8
28359 Bremen
Deutschland
Phone: +49 (0)421 2020 8
Fax: +49 (0)421 2020 613
E-mail: ir@ohb-technology.de
Internet: www.ohb-technology.de
ISIN: DE0005936124
WKN: 593612
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Hamburg, Düsseldorf, Stuttgart
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