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Technology Stocks : Loral Space & Communications -- Ignore unavailable to you. Want to Upgrade?

To: brian h who wrote (2019)	2/20/1998 7:46:00 AM
From: Valueman	Read Replies (1) \| Respond to of 10852

Loral Gets Critical Satellite Link To Europe WASHINGTON, D.C. - Loral Space and Communications revealed Thursday it gained critical satellite access to Europe through a partnership with Alcatel Alsthom of France. Both companies agreed to build and operate a geostationary system dubbed EuropeStar, which will rely on three satellites located at orbital locations between Europe and Asia. The new entity will provide broadcast and telecommunications throughout Europe, and it will have capabilities to deliver services as far as Southeast Asia and South Africa. EuropeStar will become a key link in Loral's global expansion, the company said. It will be part of the company's "global marketing alliance," a sales and marketing coalition that will link together Loral Skynet, its SatMex partnership and Orion Network Systems. Alcatel Espace will serve as EuropeStar's prime contractor, and will provide the payload. Space Systems/Loral will build and test the satellites. Alcatel will have a 51 percent share while Loral will take the remaining 49 percent. EuropeStar CEO Alain Roger said the entity will seek financing. He wouldn't specify where it may come from or how much money is needed. Project costs for the first satellite is estimated at $300 million. Loral executives also said they are working with Asian companies that abandoned Space Systems/Loral satellites under construction in an effort to resume work on the birds and make revised delivery schedules. The stoppage in satellite work resulted in lay-offs at the company.