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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 63.77

-4.4%

Dec 23 3:59 PM EST

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To: djane who wrote (4823)	5/21/1999 9:32:00 PM
From: djane	Read Replies (1) of 29987

Boeing says to boost cooperation with Ukraine Friday May 21, 11:27 am Eastern Time KIEV, May 21 (Reuters) - The leading U.S. aircraft maker Boeing (NYSE:BA - news) said on Friday it would strengthen cooperation with Ukraine in the aerospace sector. Raymond J. Waldmann, Boeing vice president in charge of international relations, told reporters the corporation was primarily interested to supply its passenger aircraft to the ex-Soviet state and cooperate in commercial satellite launches. ''If we look into the future, we see a potential for significant activity with (Ukrainian) enterprises in the two fields,'' he added. Ukraine's only rocket maker KB Yuzhnoye/PO Yuzhmash owns 15 percent shares in an international space consortium led by Boeing with 40 percent, which in March held a successful test launch of a Ukrainian-designed Zenit-3SL rocket from a floating platform. Waldmann said the launch was the result of the successful parnership between Ukraine and the U.S. corporation ''in this exploding world market for satellite launches.'' Boeing has so far made no investment in Ukraine's economy, but Waldmann said the company might buy stakes in several local aerospace companies. ''Our chairman Phil Condit is extremely interested in making Boeing more global, and one way to do that is to invest in facilities in other countries,'' Waldmann said. He gave no details, but said this could be investments made only in aerospace companies or airlines. Last month Ukraine's second largest carrier, Ukraine International Airlines, bought a new Boeing 737-300 and plans to increase its fleet by purchasing another Boeing 737-700 in 2002. Several other carriers operate leased Boeing planes. Waldmann said Boeing was also interessted in cooperating with Ukraine's defence ministry and could enevtually start selling to Kiev its modern military equipmemt and planes. Help Copyright © 1999 Reuters Limited. All rights reserved.

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