The new contracts will boost revenue from this customer to $12.5 million.
Spacecom Satellite Communications Ltd. (TASE:SCC) has signed new agreements worth $10.7 million for satellite communications services covering Africa for the company's Amos 5 satellite with an existing customer. The agreements are for five years after the satellite begins commercial operations. The company said that the new contracts will boost revenue from this customer to $12.5 million.
Spacecom currently operates the Amos 2 and Amos 3 communications satellites. The Amos 5 is scheduled for launch later this year, and will begin operations by the end of 2011. The Amos 4 will be launched during 2012.
Spacecom's share price rose 2.1% today to NIS 61.45, giving a market cap of NIS 1.18 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on June 12, 2011
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