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SATLYNX Awarded Contract From Polish NATO Forces
Stuttgart, Germany (SPX) Feb 13, 2009 Satlynx has announced a 6.7M euro business agreement with the Polish Government via its military systems partner WZL (Wojskowe Zak lady Lacznosci Nr 1) to provide a range of satellite equipment. In addition, Satlynx and GE have entered an Offset Agreement with the Polish Ministry of Economic Affairs as a commitment to invest in Polish business, goods and services to a value of 17M euro over the next five years. Satlynx and WZL have been cooperating on a number of different initiatives for some years and this recent contract for satellite antenna equipment and services is a significant milestone in their relationship. Christian Stetter, Vice President Sales for Satlynx said: "I am delighted that we are able to take another step together as this not only strengthens our friendship but shows a growing confidence in our partnership." The Offset Agreement details a series of investments from both Satlynx and other GE businesses designed to bring technology, know-how and growth to the Polish economy. Ronny Svang, President and CEO for Satlynx commented: "Satlynx has received strong support from its partner in Poland in the conclusion of this agreement which will be a catalyst to accelerate business opportunities for Satlynx and GE." Leslaw Kuzaj, GE's National Executive for Poland said: "The agreement focuses on strategic areas such as technology transfer, purchase of equipment for the satellite and oil and gas industries as well as providing projects from investment in modernisation. With our industrial business units, we intend to work closely with the Polish government to maximise the benefits to the Polish economy well beyond the lifetime of the offset agreement." Related Links Satlynx The latest information about the Commercial Satellite Industry
Sirius XM Radio May File For Bankruptcy
Washington (AFP) Feb 11, 2009US satellite radio giant Sirius XM is considering filing for bankruptcy, The New York Times reported Wednesday. The newspaper, citing "people in involved in the process," said Sirius XM, formed last year through Sirius Satellite Radio's buyout of rival XM Satellite Radio, had hired advisers to prepare for a possible bankruptcy filing. |
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