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Stockwire.com: Globalstar, Inc. (Nasdaq:GSAT) just released some
important news.
(M2 PressWIRE Via Acquire Media NewsEdge)
RDATE:29082008
Globalstar, Inc. (Nasdaq:GSAT) just announced Globalstar Begins
Production Assembly and Testing of New Second-Generation
SatellitesGlobalstar Prepares to Provide Next-Generation of Wireless
Services as Delivery of First New Satellites is Less Than a Year Away.
A dedicated Chat Room for Globalstar, Inc., has been created at
STOCKWIRE.com to discuss this news event.
Visit the following link to begin chatting with your fellow
shareholders: http://www.stockwire.com/chat
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MILPITAS, Calif., Aug 27, 2008 - Globalstar, Inc. (Nasdaq:GSAT), the
world's largest provider of mobile satellite voice and data services to
businesses, government and individuals, today announced that satellite
manufacturer Thales Alenia Space has begun production assembly,
integration and testing of the first Globalstar second-generation
flight model satellites. Globalstar, Thales Alenia Space and
Arianespace company officials presented the latest updates to members
of the media and investment community at the Thales Alenia Space
satellite manufacturing facility located in Cannes, France. The new
satellites, scheduled for delivery beginning in less than a year, will
be used to provide Globalstar's next-generation of advanced mobile
satellite voice and data services.
In November of 2006 Globalstar signed a contract with Thales Alenia
Space for the design, manufacture and delivery of 48 second-generation
satellites. In September of 2007 Globalstar signed a contract with
launch provider Arianespace to launch the second-generation satellites
beginning in the second half of next year. Globalstar will once again
use the highly reliable human-rated Soyuz launch vehicle which has been
used to successfully launch 32 Globalstar first-generation satellites.
"For more than a decade our talented engineers and operations personnel
have been working with the highly skilled team of satellite and launch
experts from Thales Alenia Space, Arianespace and their Soyuz
partners," said Tony Navarra, President of Space Operations and
Engineering for Globalstar, Inc. Mr. Navarra added, "This
first-generation legacy helped lead to the manufacture of our current
constellation plus eight successful Globalstar Soyuz launches. Today's
announcement and manufacturing tour clearly demonstrate we're on track
to meet our second-generation launch schedule. We are doing exactly
what we set out to do and we are doing so on time and on budget. We
want to thank Thales Alenia Space, Arianespace and all their
sub-contractors for helping us meet our aggressive timetable to deploy
Globalstar's next-generation network and the advanced wireless voice
and data services that it will bring."
"We are very proud to have been chosen by Globalstar, Inc. for this
major program," said Blaise Jaeger, Thales Alenia Space Executive Vice
President and General Manager Telecommunications Business Unit. "With
the production AIT phase for the second generation kicking off today,
after meeting all program milestones since its start in November 2006,
we are on schedule to start launches as early as Q3 2009. Building on
our long-standing relation, we continue to team up with Globalstar in
an outstanding partnership, and look forward to the continued flawless
execution of the program."
"Since February 1999, Arianespace has had the privilege, through its
Starsem affiliate, of launching 32 satellites of the Globalstar fleet.
Last year, we were honored to have been entrusted by Globalstar with
launching its second-generation constellation. In 2009, this decade-old
relationship with Globalstar is expected to continue in French Guiana,
when Arianespace will deliver to orbit another six Globalstar
satellites on the world's most reliable launch vehicle, the Soyuz. As
ever, Arianespace stands ready with a proven guarantee of 'Service &
Solutions' to help Globalstar meet its goals," said Jean-Yves Le Gall,
Chairman & CEO of Arianespace.
The Globalstar second-generation constellation has a 15-year contracted
lifespan which secures the company's space segment through at least
2025. Globalstar expects the new constellation and ground network to
provide faster data speeds required to support a variety of
next-generation Internet-protocol (IP) based services. The network is
being designed to ensure backwards compatibility for current customers
and the Company is evaluating next-generation commercial and consumer
wireless services including push-to-talk, multicasting, duplex SMS,
advanced messaging, and the ability to support mobile video
applications.
A copy of the Globalstar presentation is available on the company's
website at www.globalstar.com
About Globalstar, Inc.: With over 300,000 subscribers, Globalstar is
the world's largest provider of mobile satellite voice and data
services. Globalstar offers these services to commercial and
recreational users in more than 120 countries around the world. The
Company's products include mobile and fixed satellite telephones,
simplex and duplex satellite data modems and flexible service packages.
Many land based and maritime industries benefit from Globalstar with
increased productivity from remote areas beyond cellular and landline
service. Global customer segments include: oil and gas, government,
mining, forestry, commercial fishing, utilities, military,
transportation, heavy construction, emergency preparedness, and
business continuity as well as individual recreational users.
Globalstar data solutions are ideal for various asset and personal
tracking, data monitoring and SCADA applications.
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