*AV* -- Here's another penny's worth to be aware of<GGG>
STEAMBOAT SPRINGS, Colo., Feb. 10 / eWireNews / -- SpaceDev (OTC Bulletin Board: SPDV) announced today it has completed the $3 million acquisition of privately held Integrated Space Systems (ISS) of San Diego, making ISS a wholly-owned subsidiary of SpaceDev.
With estimated 1997 sales of $1.8 million, ISS is a profitable and rapidly growing aerospace, engineering and technical services firm founded in 1995. SpaceDev's combined sales for 1998 are expected to reach $10 million.
''We are excited about this strategic acquisition as it represents a vital step forward for the NEAP mission and the future of SpaceDev,'' said James Benson, chairman of SpaceDev. ''We are closer to our goal of being the first commercial company to launch a privately-financed spacecraft to rendezvous, contact and scientifically analyze a near earth asteroid. It also builds upon our strategy to become the premier provider of high-quality, low-cost, space- related consulting, design, planning and support services and products.''
ISS will provide SpaceDev with aerospace engineering skills to build the Near Earth Asteroid Prospector (NEAP) and to develop future deep space missions for SpaceDev and its private and government customers.
Benson noted that the addition of ISS strengthens SpaceDev's technical
expertise in important areas such as design analysis and launch vehicle integration services. SpaceDev is also able to provide space engineering in the areas of mission and spacecraft design, spacecraft and satellite construction and testing, space vehicle and launch vehicle integration, and mission control and operations.
ISS, which employs more than 30 aerospace engineers, will continue
operations in San Diego. The principals of ISS, formerly key program
engineers and designers at General Dynamics, formed ISS after General
Dynamics Space Systems Division was acquired by Martin Marietta in 1993.
SpaceDev, (www.spacedev.com) the world's first commercial space exploration and development company, intends to launch the first privately financed spacecraft to land on a near earth asteroid for the purpose of flying instruments and experiments for hire and for collecting scientific data for sale. NEAP provides the first opportunity for governments and companies to commercially fly their instruments and experiments, fully insured, through deep space to another planetary body. SpaceDev intends to sell the data acquired by its own instruments as a commercial product.
This release contains forward-looking statements. Actual results may vary due to a variety of risk factors, including, but not limited to, execution of definitive agreements, completion of due diligence, availability of substantial additional financing, dependence on management, government regulations, successful building and launching of spacecraft, dependence on outside contractors and other risks generally associated with a start-up development venture.
SOURCE: SpaceDev
Thar's billions in them thar asteroids. All we gotta do is figger out how to get there and how to mine tons of stuff that will have to be carried back on a craft that will weigh under 1000 lbs fully loaded. I say we sent a ship with a long cable attached to it and pull it back to earth. Or maybe pull it into orbit around earth and put those shuttle cargo bays to good use for a change. BRE-X could run the mining operation<GGG>
Andrew |
