DGAP-News: OHB AG / Key word(s): Contract
OHB AG: ESA and OHB System signed the Extension to the contract for
the development of the Small GEO geostationary satellite platform
29.09.2011 / 13:58
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ESA and OHB System signed the Extension to the contract for the development
of the Small GEO geostationary satellite platform
Noordwijk, September 29, 2011 - The European Space Agency ESA and OHB
System AG, an OHB company, have signed a rider to the contract for the
development of the SmallGEO geostationary satellite platform today. The
Extension signed has a value of ca. EUR 14 million.
The SmallGEO platform is being developed by a syndicate lead-managed by OHB
System AG within the ESA ARTES-11 program and is to go into operation in
2013 for the first time with a communications payload to be known as
'Hispasat AG1' for Spanish service provider Hispasat.
The purpose of the Extension to the development contract signed today,
which is known as Sub-Element 3 (ARTES 11-3), is to prepare the SmallGEO
platform for a broader target group in the market for commercial satellite
services beyond the Hispasat AG1 mission. It includes measures to reduce
the costs of the entire platform as well as production and process costs
along with a product extension to optimize the platform for a large number
of different communications services.
Upon signing the contract, Marco Fuchs, CEO of OHB System AG, stated:
'Sub-Element 3 marks the logical continuation of the development work
on-going under a contract with ESA as part of it's ARTES 11 programme and
is an important step towards the successful commercial exploitation of our
SmallGEO platform.'
Contact:
Investor Relations
Michael Vér
Tel.: +49 421 - 2020-727
Fax: +49 421 - 2020-613
E-Mail: michael.ver@ohb.de
Corporate Communications
Steffen Leuthold
Tel.: +49 421 - 2020-620
Fax: +49 421 - 2020-9898
E-Mail: steffen.leuthold@ohb.de
End of Corporate News
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Language: English
Company: OHB AG
Karl-Ferdinand-Braun-Str. 8
28359 Bremen
Germany
Phone: +49 (0)421 2020 8
Fax: +49 (0)421 2020 613
E-mail: ir@ohb.de
Internet: www.ohb.de
ISIN: DE0005936124
WKN: 593612
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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140721 29.09.2011
DGAP-News: OHB AG: ESA and OHB System signed the Extension to the contract for the development of the Small GEO geostationary satellite platform
| Source: EQS Group AG