Finmeccanica Signs 775 Million Euro Satellite Deal With Italian Space Agency

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File image of a satellite under construction at Alenia Spazio.

Milan (AFP) Dec 22, 2004
Italian defence group Finmeccanica said Wednesday its unit Alenia Spazio has signed a 775 million euros (1.037 billion dollars) contract with the Italian space agency to supply four satellites for civil and defence uses to observe the earth.

Alenia is leading a consortium building the system that includes another Finmeccanica unit, Telespazio, as well as a number of small and medium-sized Italian companies, it said.

The 775 milion euros contract covers the first three satellites and foresees a further 116 million euros for the fourth satellite, it said.

The contract is funded 620 million euros by the ministry for education, universities and research and 155 million by the ministry for defence, it said.

The first of the satellites will be launched in the last quarter of 2006, and the system will be fully operational at the end of 2008, it said.

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Moscow (UPI) Dec 22, 2004
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