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Hughes to Build Three Additional New ICO Satellites
London - July 24, 2000 Hughes Space and Communications and New ICO, formerly ICO Global Communications, announced Wednesday that Hughes will build at least three more satellites for New ICO. In addition, HSC will modify 11 other spacecraft currently in production for the revamped New ICO system. The spacecraft modifications will assist in the enhancement of the New ICO constellation to provide high-quality voice and packet-data services. New ICO expects to begin service in 2003. "The New ICO program is alive and healthy and promises to be a success in the world market," said Tig H. Krekel, president and chief executive officer of HSC. "These three new Hughes 601 satellites, coupled with modifications on the entire fleet, will provide enhanced voice and data services for New ICO's customers through the next decade. This new contract assures New ICO a full constellation at service start in 2003. We have the utmost confidence in New ICO." Financial terms of the new contract orders and spacecraft modifications were not disclosed, and New ICO will make launch vehicle arrangements for the additional satellites separately. "This contract for three additional satellites and modifications to our other satellites is a tangible step forward for New ICO and our future services," said Greg Clarke, CEO of ICO-Teledesic Global, a holding company established to control the satellite assets of telecommunications pioneer Craig McCaw. HSC's original contract to manufacture 12 ICO satellites was awarded in July 1995. The ICO satellite design is one of the most complex ever undertaken by HSC and incorporates a number of unique design features. The satellites carry more computing power than 600 Pentium III-based computers; feature innovative transmit and receive antennas allowing direct air link to users; and use a so-called "smart processor" that is capable of adapting beam configuration to match usage and make the most efficient use of the bandwidth available. These features give New ICO unprecedented flexibility to meet ever-changing market demands on a global basis. New ICO, a private company based in London, acquired the assets of ICO Global Communications (Holdings) Ltd., which was established in January 1995 to provide global mobile personal communications services by satellite. The business was renamed New ICO following the successful $1.2 billion McCaw-led acquisition of the former ICO group, which was completed in May 2000. Building on its core capabilities of high-quality, mobile voice services, New ICO will also offer the satellite equivalent of third-generation (3G) wireless services, including wireless Internet and other packet-data services. Community Email This Article Comment On This Article Related Links ICO Hughes Space and Communications SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express The latest information about the Commercial Satellite Industry
Orbcomm's Equity Financings Complete
Bremen, Germany (SPX) Jan 06, 2006OHB Technology affiliated company Orbcomm has announced that it has completed equity financings totaling over $110 million led by Pacific Corporate Group (PCG), which committed $60 million. New investors, in addition to PCG, include investment firms MH Equity Investors and Torch Hill Capital. |
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