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Technology Stocks : Loral Space & Communications

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From: ebg511/11/2006 1:54:33 PM
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Boeing Gets Big Satellite Order

By TSC Staff
1/11/2006 1:31 PM EST
Click here for more stories by TSC Staff

Boeing (BA:NYSE - commentary - research - Cramer's Take) and privately held firm Mobile Satellite Ventures received a commercial contract for three satellites and associated ground systems.

Financial details weren't disclosed, but Boeing said the order was the biggest commercial satellite deal it's booked since 1997, when it received an order for two large satellites for regional mobile communications from an international customer.

The Associated Press reported that the contract is worth $500 million to $1 billion, citing Mobile Satellite Chief Executive Alexander Good. Boeing said the satellites will be part of a mobile-communications network covering North and South America, the Caribbean and Hawaii.
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