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Issue #48 - March 10, 2003 |
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Thuraya To Take Advantage of Lower Interest Rates While Pursuing GrowthSale of Tracer Radar to South Korea Banned by USJapan Looks Forward to Important Satellite LaunchesLockheed Martin and Others Win FAA's WAAS ContractGilat Makes Executive Changes After RestructuringEMS Technologies Signs GMPCS as Master Distributor Of the Fleet 55 Maritime Satellite TerminalEADS Plans to Cut 1,700 Jobs in France, UK and Germany by 2005Hughes Ends Partnership With AOL
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Thuraya To Take Advantage of Lower Interest Rates While Pursuing GrowthThuraya, which will shortly complete refinancing of its credit line with a consortium of four banks - ANZ, Societe Generale, Union National Bank and Abu Dhabi Islamic Bank - is now looking to grow its business with additional voice customers and new service offerings. Thuraya hopes to grow its current subscriber base of 95,000 to over 200,000 by the end of the year. "There was tremendous subscriber uptake during January and February, and our current monthly usage time is a very comfortable eight million minutes," says Jamal Al Jarwan, executive manager for business development. "New subscribers have been added right across our coverage area." Thuraya's second satellite will be launched in the second quarter and construction of its third has already begun. In addition, it has just signed up with the UK's M2sat to offer broadband services of 192 kbps and up for the international broadcasting industry, after near year-long negotiations. Installation of the new equipment will be completed within the year. Sale of Tracer Radar to South Korea Banned by USThe United States has banned the export of tracer radar for a satellite launch vehicle to South Korea for reasons of national security, according to the Korea Aerospace Research Institute (KARI). The export ban is likely to delay the KARI's plan to develop a launch vehicle by 2005 which can be used to transport 100 kg-class satellites into outer space, its officials said. "The tracer radar is sensitive equipment because it can be diverted for military purposes, so the U.S. government banned its export," a KARI official said. The Ministry of Science and Technology and the KARI plan to receive a fresh round of bids from military contractors to decide on a supplier of tracer radar. The system is one of the essential components for the technology to launch KSLV-1, a small satellite launch vehicle, in 2005. Japan Looks Forward to Important Satellite LaunchesJapan's space agency faces an important test this year -- safely launching into orbit four spy satellites. "If we can make a success of these three consecutive launches this year, I hope we can completely recover the lost confidence of public opinion, especially the mass media," Japan's National Space Development Agency (NASDA) president Shuichiro Yamanouchi told reporters. A successful satellite launch, the fifth in a row after two successive failures of the H-2 in February 1998 and November 1999, is crucial to gaining a foothold in the two billion-dollar annual commercial satellite market, he said. "This year is very crucial and a very important year for NASDA in its 34-year history." NASDA's rocket business, to be handed over to Mitsubishi Heavy Industries Ltd. by March 2006, needs at least two launches per year to stay viable, Yamanouchi estimated. Much of the demand for satellite launches would come from replacement of Japanese government spy satellites, Yamanouchi said. The new satellites are likely to have little impact on surveillance technology - the new information-gathering satellites are only as advanced as current commercial imaging satellites, from which photos can already be bought by Japan. "It's a kind of technological independence. Information independence... For the Japanese it's very important." Lockheed Martin and Others Win FAA's WAAS ContractThe FAA has awarded a contract to Lockheed Martin Air Traffic Management for wide-area augmentation system satellite leased communication services. As the FAA moves toward implementation of satellite navigation, these services will provide increased availability of WAAS for instrument approaches at U.S. airports. The initial contract is valued at $34 million, including a $12 million task order to start the work. The total contract value could amount to $597 million if additional satellite services are ordered. The Lockheed Martin team also includes Raytheon and Boeing. The FAA currently leases communications transponders on two Inmarsat-III satellites, providing coverage across the country, including Alaska and Hawaii. Gilat Makes Executive Changes After RestructuringShlomo Rodav, is expected to be Gilat's new Chairman and Oren Most is expected to be appointed President and CEO at the company's board meeting in April. Gilat announced the resignations of the company's Chairman and CEO Yoel Gat and President Amiram Levinberg, both co-founders of the company effective upon the meeting of the new board of directors expected in April. The executive changes follow approval from the Israel District Court in Tel Aviv for Gilat's debt-restructuring plan. Under the plan, Gilat will issue a combination of 4% convertible notes due 2012 and its ordinary shares in exchange for all outstanding notes and a portion of bank debt. As a result, the company expects to reduce its principal debt by approximately $300 million. The plan also includes the restructuring of the terms of its bank debt. EMS Technologies Signs GMPCS as Master Distributor Of the Fleet 55 Maritime Satellite TerminalEMS Technologies has signed an agreement with GMPCS Personal Communications, making GMPCS the first of EMS Technologies' Fleet 55 Inmarsat maritime satellite terminal. GMPCS, based in Pompano Beach, Florida, is a provider of global mobile communications by satellite, providing mobile satellite solutions. GMPCS will utilize its own sales force and dealer network to distribute the F55 to a variety of maritime industries, including, fishing, yachting, offshore and other deep-sea commercial industries. GMPCS will also be a regional service center to support the EMS global customer and dealer networks for the product. EADS Plans to Cut 1,700 Jobs in France, UK and Germany by 2005The European Aeronautic Defense and Space Co. plans to cut about 1,700 jobs from its aerospace division with the creation of a new holding company called Space Co., according to a report in La Tribune. Citing unnamed union sources, the report said 700 jobs will be cut by the end of 2004, with a further 1,000 expected to go by the end of 2005. It said some of the company's sites may be closed. La Tribune said Space Co. will incorporate three existing aerospace units - satellites, rockets and services. Hughes Ends Partnership With AOLHughes Electronics has cancelled its alliance with AOL. Hughes will take a $23 million charge for ending DirecTV's alliance with AOL, it said in its filing with the SEC. DirecTV also said it would lay off 80 employees, bringing the total number of job cuts to 140 -- 4% of its total work force -- since mid-February. It cut 70-75 positions back in February at its uplink facility in Castle Rock, Colorado, and six senior-level jobs in December after the FCC rejected the company's sale to EchoStar. The move will save the company roughly a billion dollars in marketing expenses that were required with the terms of the alliance and prepares the company for sale. AOL invested $1.5 billion and DirecTV was to spend an equal amount on marketing the new services. Hughes and DirecTV have spent roughly $500 million on the venture to date.
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