Space Systems/Loral-Built Satellite for Telesat Delivered to Baikonur Launch Base
(Marketwire Via Acquire Media NewsEdge) PALO ALTO, CA -- (Marketwire) -- 04/18/12 --
Space Systems/Loral (SS/L) (NASDAQ: LORL), the world's leading provider of commercial satellites, today announced that the Nimiq 6 satellite, designed and built for Telesat, one of the world's leading satellite operators, has arrived at the Baikonur Space Center in Kazakhstan, where it will be launched aboard a Proton Breeze M vehicle provided by International Launch Services (ILS).
"It takes more than a million man hours and hundreds of engineers and technicians working together as a team to build a satellite like Nimiq 6," said John Celli, President of Space Systems/Loral. "We are very pleased to have delivered Nimiq 6 to the launch base. This is a state-of-the art spacecraft that will enable Telesat to provide its customer, Bell TV, with improved performance to meet the growing demand for direct-to-home television in Canada."
Nimiq 6 is designed to provide a broad range of advanced video services to Bell TV's subscribers, including high-definition and other specialty video offerings. The satellite is based on the highly reliable Space Systems/Loral 1300 platform and will be positioned at 91.1 degrees West longitude. It has 32 Ku-band transponders which are fully contracted to Bell TV for 15 years.
"Telesat is very pleased with Space Systems/Loral's strong execution on the construction and delivery of the Nimiq 6 satellite," said Dan Goldberg, President and Chief Executive Officer of Telesat. "Nimiq 6 will allow Telesat's longstanding customer, Bell TV, to offer improved performance to its subscribers throughout all of Canada. Now that Nimiq 6 has safely arrived in Baikonur, we look forward to its launch with ILS next month and the start of commercial service."
About TelesatTelesat is a leading global fixed satellite services operator providing reliable and secure satellite-delivered communications solutions worldwide to broadcast, telecom, corporate and government customers. Headquartered in Ottawa, Canada, with offices and facilities around the world, the company's state-of-the-art fleet consists of 12 satellites and the Canadian Ka-band payload on ViaSat-1, plus one satellite preparing for launch and another under construction. Telesat also manages the operations of additional satellites for third parties. Privately held, Telesat's principal shareholders are Canada's Public Sector Pension Investment Board and Loral Space & Communications Inc. (NASDAQ: LORL).
About Space Systems/LoralSpace Systems/Loral, a subsidiary of Loral Space & Communications (NASDAQ: LORL), has a long history of delivering reliable satellites and spacecraft systems for commercial and government customers around the world. As the world's leading provider of commercial satellites, the company works closely with satellite operators to provide spacecraft for a broad range of services including television and radio distribution, digital audio radio, broadband Internet, and mobile communications. Billions of people around the world depend on SS/L satellites every day. For more information, visit www.ssloral.com.
About Loral Space & Communications Loral Space & Communications is a satellite communications company. Through its Space Systems/Loral subsidiary, the company is a world-class leader in the design and manufacture of satellites and satellite systems for commercial and government applications including direct-to-home television, broadband communications, wireless telephony, weather monitoring, and air traffic management. Loral also owns 64 percent of Telesat, one of the world's largest providers of satellite services. For more information, visit Loral's Web site at www.loral.com. LORL-G
This document contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this press release, the words "believes," "expects," "plans," "may," "will," "would," "could," "should," "anticipates," "estimates," "project," "intend" or "outlook" or other variations of these words or other similar expressions are intended to identify forward-looking statements and information. In addition, Loral Space & Communications Inc., Space Systems/Loral, Inc. or their representatives have made or may make forward-looking statements, orally or in writing, which may be included in, but are not limited to, various filings made from time to time with the Securities and Exchange Commission, and press releases or oral statements made with the approval of an authorized executive officer of the company. Actual results may differ materially from anticipated results as a result of certain risks and uncertainties which are described as "Risk Factors" and in the "Commitments and Contingencies" note to the financial statements in Loral's 2011 annual report on Form 10-K filed February 29, 2012. The reader is specifically referred to this document, as well as the company's other filings with the Securities and Exchange Commission. Risks and uncertainties include but are not limited to (1) risks associated with financial factors, including swings in the global financial markets, financial covenants in SS/L's credit agreement, increases in interest rates and access to capital; (2) risks associated with satellite manufacturing, including competition, cyclicality of SS/L's end-user markets, contractual risks, creditworthiness of customers, performance of suppliers and management of our factory and personnel; (3) regulatory risks, such as the effect of U.S. export control and economic sanction laws; and (4) other risks, including litigation. The foregoing list of important factors is not exclusive. Furthermore, Loral and SS/L operate in an industry sector where securities values may be volatile and may be influenced by economic and other factors beyond the control of Loral and SS/L.
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Source: Space Systems/Loral
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