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Printable versionSatellite firm wins £200m contract
2010-01-11Newsfeed
A British satellite manufacturer has won a contract worth more than £500 million to work on Galileo, Europe's global satellite navigation system.
A British satellite manufacturer has won a contract worth more than £500 million to work on Galileo, Europe's global satellite navigation system.
Surrey Satellite Technology Ltd (SSTL) teamed up with German space technology company OHB to win a £510 million agreement to build a first order of 14 satellites for the European Union by 2014.
The Guildford-based company will carry out £212 million of the work, which the Government called a boost for the British space industry.
Science and innovation minister Lord Drayson said: "This is great news for SSTL and the British space industry. The contract for 14 satellites will provide approximately £212 million of work for SSTL and cement its position as a key player in this booming industry."
"The UK is fast becoming a worldwide destination for hi-tech, high-skilled advanced manufacturing - and the UK space and satellite industry, with its strong order books for the next five years, is a sterling example of this."
Matt Perkings, CEO of SSTL group, said: "SSTL has demonstrated that it has the ability to play a major role in Galileo. We are very pleased that the OHB-SSTL team has been selected for part of the full operational system."
Copyright © Press Association 2010
The NETPark Net project is part financed by the European Union’s ERDF Competitiveness programme 2007-13, securing £0.22m of ERDF investment through the Regional Development Agency One NorthEast. The ERDF programme is bringing over £250m into the North East to support innovation, enterprise and business support across the region. This project has received funding from Durham County Council through County Durham Development Company.
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