LUXEMBOURG - Tuesday, January 13th 2015 [ME NewsWire]
(BUSINESS
WIRE)-- SES (NYSE Paris:SESG) (LuxX:SESG) announced today that it plans
to launch a dedicated satellite for governmental use in partnership
with the Luxembourg Government in late 2017. A Luxembourg-based company
jointly held by SES and the Luxembourg Government is planned to own and
operate the new spacecraft.
The Luxembourg Government
and SES would each invest EUR 50 million into the new company, which, at
the same time, would receive a EUR 125 million bank loan from a
consortium of Luxembourg banks to finance the satellite’s procurement
and launch. This investment has been foreseen within SES's existing
capital expenditure projections. The spacecraft would be positioned in
the European arc, covering Europe, the Middle East, Africa and
Asia-Pacific. The capacity of the new satellite would satisfy
Luxembourg’s requirements for satellite communications in military
frequencies. Capacity would also be made available to governmental and
institutional customers for defence and governmental applications. The
multi-mission satellite will use dedicated military frequencies (known
as X-band and military Ka-band), providing high-powered and fully
steerable spot beams to support multiple operations.
“This
new, ambitious public-private partnership demonstrates the importance
of Luxembourg in the international space sector and the close and
successful ties between SES and Luxembourg. SES fully acknowledges the
importance of the Luxembourg Government’s participation in this future
enterprise,” said Karim Michel Sabbagh, President and CEO of SES. “As a
commercial satellite operator, SES is ideally positioned to deliver its
know-how to this new venture, serving a large range of future
governmental and institutional customers, creating significant
entrepreneurial value and return for these customers and for the
Grand-Duchy.”
“Emerging from the national space sector,
this project is not only an important contribution of Luxembourg to
European defence, but it further supports the government’s economic
diversification policy in a key technology sector”, said Etienne
Schneider, Deputy Prime Minister, Minister of Defence and Minister of
Economy.
Follow us on:
Twitter: https://twitter.com/SES_Satellites
Facebook: https://www.facebook.com/SES.YourSatelliteCompany
YouTube: http://www.youtube.com/SESVideoChannel
Blog: http://en.ses.com/4243715/blog
Find pictures and videos under: http://www.ses.com/4245221/library
About SES
SES
is the world-leading satellite operator with a fleet over 50
geostationary satellites. The company provides satellite communications
services to broadcasters, content and internet service providers, mobile
and fixed network operators and business and governmental organisations
worldwide.
SES stands for long-lasting business
relationships, high-quality service and excellence in the broadcasting
industry. The culturally diverse regional teams of SES are located
around the globe and work closely with customers to meet their specific
satellite bandwidth and service requirements.
SES (NYSE
Paris:SESG) (LuxX:SESG) holds participations in Ciel in Canada and
QuetzSat in Mexico, as well as a strategic participation in satellite
infrastructure start-up O3b Networks. Further information under:
www.ses.com.
Contacts
SES
Markus Payer
Tel. +352 710 725 500
markus.payer@ses.com
or
Yves Feltes
+352 710 725 311
yves.feltes@ses.com
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