|[November 09, 2012]
Inmarsat Applauds Chancellor's Decision to Invest £1.2bn in UK Space Industry
LONDON --(Business Wire)--
Inmarsat (News - Alert) (LSE: ISAT), the leading provider of global mobile satellite
communications services, applauds UK Chancellor's announcement of £1.2bn
investment into the Space , through the European Space Agency, over the
next five years.
Comments Rupert Pearce, CEO, Inmarsat plc:
"Inmarsat welcomes the Chancellor's recognition that the UK is a
world-leader in satellite design and commercial applications. We applaud
the Government's strategic approach to our industry and to its
recognition that UK Space already contributes £9bn per year to the
economy. The decision will support innovation,create further growth and
encourage skills within our economy.
The Chancellor's decision mirrors our own to invest $1.5bn over the next
two years period to deliver the Alphasat and Global Xpress programmes.
This will ensure the UK's continued leadership in satellite delivered
voice, data and safety services".
- ends -
Inmarsat plc is the leading provider of global mobile satellite
communications services. Since 1979, Inmarsat has been providing
reliable voice and high-speed data communications to governments,
enterprises and other organizations, with a range of services that can
be used on land, at sea or in the air. Inmarsat employs around 1,500
staff in more than 40 locations around the world, with a presence in the
major ports and centres of commerce on every continent.
For more information, please visit www.inmarsat.com
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