Loral unit gets satellite contract
By
Associated Press
December 31, 2008
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A unit of Loral Space & Communications Inc. said Wednesday it received a contract from Intelsat Ltd. to replace an existing satellite.
Space Systems/Loral did not disclose the value of the contract but said it finalized a previously announced award from Pembroke, Bermuda-based Intelsat, which offers fixed satellite services, for a new satellite.
To be known as Intelsat 17, the spacecraft will be the 45th satellite provided by Loral to Intelsat. It will replace Intelsat 704 and be launched in 2010 to an altitude of about 20,000 miles at a stationary point over the Indian Ocean, a spokeswoman said.
Based on the SS/L 1300 satellite platform, Intelsat 17 is designed to provide a variety of applications for 15 years or more, Loral said in a statement.
In midday trading, Loral shares rose 8 cents to $15.05.
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