Spacecom Satellite Communications Ltd. (TASE:SCC) has signed a five-year satellite communications services contract for Africa with a European company for the Amos 5 communications satellite. The contract will come into effect following the satellite's scheduled launch in mid-2011, and will amount to $28 million.
Spacecom did not disclose the name of the customer. The customer has the right to notify Spacecom by December 1, 2010, if it wants to receive only half of the services, which will reduce the amount of the deal accordingly.
Shaul Elovitch's Eurocom Group owns 51% of Spacecom. Other shareholders include C. Mer Industries Ltd. (TASE: CMER), General Satellite Services Company (GSSC), and Israel Aerospace Industries Ltd. (IAI) (TASE: ARSP.B1) - the manufacturer of the Amos satellites.
The Amos 2 and Amos 3 satellites provide coverage for Europe and the Middle East, with single-hop cross-Atlantic connectivity to the East Coast of the US. The Amos 5 will provide coverage of Africa, with access to Europe and the Middle East. The Amos 4, scheduled for launch in 2012, will expand coverage to Southeast and Central Asia.
Published by Globes [online], Israel business news - www.globes-online.com - on August 31, 2009
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