Long Beach CA (SPX) Jul 29, 2010
Sea Launch Company, a leading provider of launch services to the commercial satellite industry, has signed an agreement with a subsidiary of EchoStar Satellite Services L.C.C., a wholly owned subsidiary of EchoStar Corporation (Nasdaq: SATS), providing EchoStar with the ability to launch up to three satellites on the Sea Launch system.
Sea Launch expects to launch the satellites using the reliable Zenit-3SL launch vehicle from its equatorial launch site at 154 degrees West Longitude, in international waters of the Pacific Ocean. Sea Launch has successfully launched previous EchoStar satellites, including EchoStar IX in 2003.
"We are very excited to have the opportunity to launch new spacecraft for EchoStar," said Kjell Karlsen, president and general manager of Sea Launch. "This new agreement reinforces our long-term relationship with EchoStar."
"EchoStar is pleased to have completed successful launches with Sea Launch in the past, which give us confidence in Sea Launch's ability to execute on future launches," said Dean Olmstead, president of EchoStar Satellite Services.
"The Sea Launch Zenit-3SL vehicle has been a reliable, flight-proven launch system and we look forward to continued success."
This is one of several new launch agreements that Sea Launch has signed recently, building a healthy manifest as the company moves forward toward successfully exiting Chapter 11 in the third quarter of 2010. On May 10, 2010, Sea Launch filed its Plan of Reorganization and Disclosure Statement.
Sea Launch anticipates court confirmation of its Plan of Reorganization at a hearing in the U.S. Bankruptcy Court in Delaware, scheduled for July 27, 2010.
Court confirmation of the Plan is the culmination of a 13-month restructuring process that was initiated when Sea Launch filed for Chapter 11 protection on June 22, 2009. The Plan will become effective following completion of U.S. regulatory review.
"Court confirmation of our Plan of Reorganization is the next step in the reorganization process for Sea Launch and brings us closer to re-entering the market as a strong and competitive commercial launch service provider," said Kjell Karlsen, president and general manager of Sea Launch. "We will continue toward emergence with a solid financial structure and a healthy manifest of future launches."
Jefferies and Company, Alston and Bird LLP and Chris Picone of Buccino and Associates, Inc., serve as advisors to Sea Launch.
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Sea Launch Signs Launch Agreement With AsiaSat
Long Beach CA (SPX) Jul 14, 2010
Sea Launch Company, a leading provider of launch services to the commercial satellite industry, has entered into an agreement with Asia Satellite Telecommunications Company Limited ("AsiaSat"), for the launch of an AsiaSat satellite to geosynchronous transfer orbit, on the Sea Launch system. AsiaSat will assign the mission at a later date for a launch to be executed between 2012 and 2014. ... read more
Sea Launch Signs Agreement With EchoStar|
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