OHB SE — M&A Activity 2009

Jun 15, 2009

News Details

Corporate | 15 June 2009 12:37

OHB System AG: ESA and OHB/SSTL signed contract for sourcing long-lead items for Galileo Satellites

OHB Technology AG / Contract

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ESA and OHB/SSTL signed contract for sourcing long-lead items for
Galileo satellites

Paris, June 15, 2009 is, June 15, 2009 - The European space agency ESA
and the bidder consortium led by OHB-System AG and Surrey Satellite
Technology Ltd. (SSTL)) have have signed a contract for sourcing long-lead
items for satellites for the future European Galileo navigation system at
the Paris Air Show today. The EUR 10 million contract is carried out under
a program initiated and funded by the European Union.

Through this contract, OHB and SSTL are able to place orders for
satellite technologies which require considerable lead times for
development and sourcing ahead of the award of the actual contract for the
construction of the satellites. The Galileo System customers, the European
Union and the ESA, are thus ensuring that the schedule for implementation
of Galileo can be maintained.

OHB and SSTL are one of two syndicates consortia bidding for the
development and construction of 28 satellites for Galileo. By allowing dual
sourcing for the spacecraftstwo syndicates consortia to build spacecraft
for this significant undertaking, ESA are is ensuring that the full
operational capability can be put in place as soon as possible and at best
value to the EU. The system is to be fully operational by 2013 following
full contract signature later in 2009.

OHB-System AG
Steffen Leuthold
Corporate Communications
Tel.: +49 421 2020 620
Fax: +49 421 2020 613
E-Mail: leuthold@ohb-system.de
www.ohb-system.de

15.06.2009 Financial News transmitted by DGAP

Language: English
Issuer: OHB Technology AG
Karl-Ferdinand-Braun-Str. 8
28359 Bremen
Deutschland
Phone: +49 (0)421 2020 8
Fax: +49 (0)421 2020 613
E-mail: ir@ohb-technology.de
Internet: www.ohb-technology.de
ISIN: DE0005936124
WKN: 593612
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Hamburg, Düsseldorf, Stuttgart

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