Space Systems/Loral Awarded $103 Million Contract to
Build Critical Power Systems for the International
Space Station
Tuesday July 8, 1:49 pm ET
SS/L to Build 40 New Batteries Under a Sub-Contract From Boeing NASA
Systems
PALO ALTO, Calif.--(BUSINESS WIRE)--July 8, 2003-- Space Systems/Loral (SS/L), a
subsidiary of Loral Space & Communications (NYSE: LOR - News), today announced that it
has won a contract from Boeing NASA Systems, Houston, Texas, to build 40 replacement
batteries for the U.S. photovoltaic, or power-producing, module of the International Space
Station (ISS). These replacement units will be used as spares or to replace older ISS batteries
currently on orbit.
"SS/L has been a key contractor to Boeing for a variety of ISS related projects over the past
two decades, and we are very pleased to be continuing that work at this critical time in the
development of the International Space Station," said C. Patrick DeWitt, president of Space
Systems/Loral.
The seven-year contract with Boeing NASA Systems calls for the delivery of 40 battery Orbital
Replacement Units (ORUs), in addition to the 21 ISS battery ORUs that SS/L is currently on
contract to deliver to Boeing over the next two years.
SS/L's advanced nickel-hydrogen batteries are used to store electrical energy for use during the
16 solar eclipse periods that the ISS encounters during its daily orbits around the earth.
Since 1994, SS/L has manufactured more than 50 batteries for the final on-orbit configuration of
the Space Station. SS/L's first batteries were carried to the Space Station on November 30,
2000, aboard the Space Shuttle Endeavor.
Space Systems/Loral is a premier designer, manufacturer, and integrator of powerful satellites
and satellite systems. SS/L also provides a range of related services that include mission
control operations and procurement of launch services. Based in Palo Alto, Calif., the company
has an international base of commercial and governmental customers whose applications
include broadband digital communications, direct-to-home broadcast, governmental
communications, environmental monitoring, and air traffic control. SS/L is ISO 9001:2000
certified. For more information, visit www.ssloral.com.
Loral Space & Communications is a satellite communications company. Through its Skynet
subsidiary, it owns and operates a global fleet of telecommunications satellites used by
television and cable networks to broadcast video entertainment programming, and by
communication service providers, resellers, corporate and government customers for broadband
data transmission, Internet services and other value-added communications services. Loral also
is a world-class leader in the design and manufacture of satellites and satellite systems
through its Space Systems/Loral subsidiary. For more information, visit Loral's web site at
www.loral.com.
This document contains forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. In addition, Loral Space & Communications Ltd. or its representatives have made
or may make forward-looking statements, orally or in writing, which may be included in, but are
not limited to, various filings made by the company with the Securities and Exchange
Commission, press releases or oral statements made with the approval of an authorized
executive officer of the company. Actual results could differ materially from those projected or
suggested in any forward-looking statements as a result of a wide variety of factors and
conditions, which have been described in the section of the company's annual report on Form
10-K for the fiscal year ended December 31, 2002, entitled "Certain Factors That May Affect
Future Results," and the company's other filings with the Securities and Exchange
Commission. The reader is specifically referred to these documents.
Contact:
Loral Space & Communications
John McCarthy, 212/338-5345
Source: Space Systems/Loral |
