Globalstar delays satellite launches
NEW YORK, Nov 11 (Reuters) - Globalstar LP said Tuesday it had delayed the launch of its
first four satellites to the first week of February 1998, to allow for further testing and rehearsals
of tracking and control ground equipment.
Tracking, telemetry and control equipment is used to monitor the launch and deployment of
Globalstar satellites, the company said.
The stock fell after the announcement, trading down two points at 46-1/4.
Bernard Schwartz, Globalstar chairman, said the eight-week delay was not related to
equipment performance.
''The postponement was adopted in order to assure an adequate period of time to complete
testing of Globalstar's tracking, telemetry and control equipment that function prior to the initial
launch, and was not related to any segment performance issue,'' he said in a statement.
Schwartz said all other parts of the project, including system design, satellite and CDMA
technology, gateway design and handset production, were on schedule and meeting critical
performance criteria.
Globalstar, led by Loral Space & Communications Ltd (NYSE:LOR - news), is a partnership
of telecommunications service providers and equipment manufacturers, including
QUALCOMM Inc (Nasdaq:QCOM - news), AirTouch Communications Inc (NYSE:ATI -
news), Alcatel Alsthom (NYSE:ALA - news), Elsag Bailey (NYSE:EBY - news), and France
Telecom (NYSE:FTE - news; FTE.PA).
Globalstar said it now expects to start commercial service no later than in the first quarter of
1999 following the launch of 44 satellites during 1998. A remaining 12 satellites would be
launched in early 1999, as scheduled, it said.
It is preparing to launch and operate a satellite-based digital telecommunications system
designed to enable local service providers to offer low-cost wireless voice telephony and data
services. |
