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Surrey Prepares For New Microsat Market Growth
Guildford, UK (SPX) Feb 16, 2007 SSTL has strengthened its Board of Directors with 3 new appointments to drive further growth. Sir Martin Sweeting has been appointed as Group Executive Chairman, Dr Matt Perkins as Group Chief Executive Officer and Dr John Forrest as Deputy Chairman and Senior Independent Director. The Company expects to increase its turnover this year by over 25%, meanwhile the new team will drive the long term growth strategy. Sir Martin commented, "We want to build upon SSTL's phenomenal success in changing the economics of space as a prime contractor for small, responsive, affordable space missions. Today's new appointments prepare the Company for continued growth - without losing the essential ethos and philosophy essential to small satellites and missions." SSTL employs 240 staff in its new facilities on the Surrey Research Park, Where 8 satellites are currently being manufactured or awaiting launch for customers in the USA, Canada, Nigeria and Spain. Sir Martin sees expanding market opportunities for SSTL in remote sensing, communications, navigation and the support of space science and exploration. Innovative new small satellite products for geostationary communications, synthetic aperture radar (SAR) remote sensing and a UK-led lunar exploration initiative are under development that will help drive the long term growth of the company. Dr Matt Perkins joins SSTL from Powerwave UK, previously the Wireless Infrastructure Division of Filtronic plc. Over 14 years he has held a number of Director-level positions within the global pound200m business, including Director of China Operations, Global Engineering and Programmes Director and Radio Products Programme Director. Perkins' experience working in both the USA and China and dealing with major international customers as part of the Eurofighter programme, will enable him to drive plans for future growth in these important markets. Perkins will spend the coming months developing this growth strategy in conjunction with Sir Martin. Dr Perkins commented "This is an exciting time for SSTL, with the imminent launch of CFESat, the continuing operation of the Disaster Monitoring Constellation, the integration of RapidEye, the manufacture of Spain DMC and NigeriaSat-2 and several new business opportunities in advanced stages of negotiation". Dr John Forrest CBE, who has extensive experience in both the industrial and financial sectors, said "I look forward to helping SSTL develop a strong financial structure upon which the Company will respond to new and increased opportunities". Notes for Editors: Surrey Satellite Technology Ltd (SSTL) specialises in 'changing the economics of space' through the commercial design, manufacture, launch and orbital operation of high-performance yet low cost small satellites - provided within rapid timescales to meet the operational requirements of civil and military Earth observation, communications and space science customers. SSTL has launched 26 satellite missions into Low Earth Orbit (LEO) and Medium Earth Orbit (MEO) for international customers - pioneering use of 'commercial-off-the-shelf' (COTS) technologies used in terrestrial applications and adapting them to use in space. The resulting experience and heritage of missions and in-orbit operations is unmatched by any other professional small satellite manufacturer worldwide. SSTL has eight new satellites currently under construction and test at its facilities in Guildford, England for customers in Canada, Nigeria, Spain and USA. The next SSTL-built satellite to be launched is CFE-SAT (a research satellite for the US Department of Energy Los Alamos Laboratory), which is currently scheduled for launch on an EELV from the Kennedy Space Centre later this month on 22nd February. SSTL is a private British company formed in 1985 by the University of Surrey that in 2006 has grown to 240 staff, a turnover of 32M pounds and an order book of 43M pounds. The University currently holds 80% of the shares and the staff 10%, with 10% held by SpaceX of the USA. In 2006, SSTL moved into new custom-built premises on the Surrey Research Park to accommodate its expanding business, whilst still operating cleanroom and manufacturing facilities on the Surrey Space Centre. In 2006 SSTL also acquired the Space Electro-Optics Division of the SIRA Group, which now operates from a third SSTL site in Sevenoaks, Kent. Email This Article
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