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

To: Don Limb who wrote (3975)	7/9/1998 7:39:00 PM
From: Valueman	Read Replies (1) \| Respond to of 10852

SatMex News--not so good if the figures presented by this gentleman are correct. Loral had projected 98 revenues of $133 million--this article states $100 million. I'll have to look into it. INTERVIEW-Satmex consolidates market position By Cyntia Barrera Diaz MEXICO CITY, July 9 (Reuters) - Eight months after 75 percent of its shares passed into private hands, Satelites Mexicanos (Satmex) has consolidated its market position and signed up 300 national and international clients, a director said. ''We've put together our management team...and have closed 300 contracts,'' said Satmex's executive vice president, Joseph del Riego, in an interview with Reuters late on Wednesday. U.S. firm Loral Space & Communications Ltd. (LOR - news) bought a 75 percent stake in Satmex together with Mexico's private Telefonica Autrey at the end of 1997 in a deal valued at $688 million. The remaining 25 percent stake in Mexico's main satellite provider remained in government hands and is expected to be sold on the market during the next four years. Satmex expects to start to make a profit within five years, company officials say. Del Riego said 85 percent of the 300 new clients were national firms while the rest were from overseas, mainly the United States. He declined to say what level sales had reached in dollar terms in the first six months but said that by the end of the year, sales should be $100 million. In the first months of operations as a private company, some clients canceled their contracts but del Riego said this did not hurt the firm as thr capacity demand,'' del Riego said. Satmex has three satellites in orbit and offers analog television signals, digital transmission and services catered to large client's needs. Del Riego said Mexico's two main broadcasters Grupo Televisa (TLEVISACPO.MX) and TV Azteca (TVAZTCACPO.MX) were clients. Televisa represented around 37 percent of income, he said, while Azteca was the fourth most important client. Satmex plans to place a new satellite in orbit by November to replace an older one, which is nearing the end of its life. Del Riego said it would have 10 times the capacity of the satellite it was replacing, be able to handle signals from the Canadian border to Argentina and cost up to $250 million. Satmex also plans to set up a Brazilian subsidiary during 1998 and sign an agreement with Buenos Aires to operate in Argentina. --------------------------------------------------------------------------------