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Long Beach CA (SPX) Jul 14, 2010 Sea Launch Company, a leading provider of launch services to the commercial satellite industry, has entered into an agreement with Asia Satellite Telecommunications Company Limited ("AsiaSat"), for the launch of an AsiaSat satellite to geosynchronous transfer orbit, on the Sea Launch system. AsiaSat will assign the mission at a later date for a launch to be executed between 2012 and 2014. It will be carried out on Sea Launch's reliable Zenit-3SL launch system, from its equatorial launch site at 154 degrees West Longitude, in international waters of the Pacific Ocean. "We are very pleased that we have arrived at this agreement, which will be beneficial for both Sea Launch and AsiaSat," said Kjell Karlsen, president and general manager of Sea Launch. "We're looking forward to successfully executing this mission with AsiaSat and we appreciate the confidence and trust that AsiaSat has placed with Sea Launch. We are excited to take part in the future growth of this important satellite operator." "We are pleased to conclude a launch service contract with Sea Launch to support the launch of one of our future satellites," said Peter Jackson, chief executive officer of AsiaSat. "The Zenit-3SL launch vehicle is based on a mature, flight-proven design. We look forward to a satisfactory launch service provided by this highly reliable launch system." AsiaSat, the leading regional satellite operator in Asia, serves over two-thirds of the world's population with its fleet of three satellites. The AsiaSat fleet provides services to both the broadcast and telecommunications industries. AsiaSat is a wholly-owned subsidiary of Asia Satellite Telecommunications Holdings Limited, a company listed on The Stock Exchange of Hong Kong Limited (Stock Code: 1135). Sea Launch is now in the final stages of formalizing its new business and reorganization plans, as it moves forward toward exiting Chapter 11 in the third quarter of 2010. On May 10, 2010, Sea Launch filed its Plan of Reorganization and Disclosure Statement. Sea Launch anticipates court confirmation of its Plan of Reorganization at a hearing in the U.S. Bankruptcy Court in Delaware, scheduled for July 27, 2010.
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Sea Launch Gets Court Approval To Raise More MoneyLong Beach CA (SPX) Mar 22, 2010 Sea Launch received final approval on March 17 from the U.S. Bankruptcy Court in Delaware on its motion to secure a second tranche of debtor-in-possession (DIP) financing in the amount of $12 million from Space Launch Services, LLC (SLS). SLS also provided the first tranche of DIP financing in the amount of $12.5 million to Sea Launch, pursuant to an earlier court order dated December 3, 2 ... read more |
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