A fault in one of the units of the Amos 5 satellite will cause a delay in the timetable for the satellite's launch, Spacecom Satellite Communications Ltd. (TASE:SCC) reported to the Tel Aviv Stock Exchange today. The launch was scheduled to take place this year.
"The company and the satellite manufacturer are examining the implications of the fault, and a further report will be released when the results of the examination are available," Spacecom said.
Spacecom Satellite Communications is controlled by Shaul Elovitch via Eurocom Group. Just last month, it signed on an expansion of an existing contract with an Internet solutions provider in Africa for the provision of additional satellite communications services, via the Amos 5 satellite, for a period of five years. The expanded contract with that customer is worth a total of $12.5 million.
Spacecom Satellite Communications currently operates the Amos 2 and Amos 3 satellites, and provides telecommunications and broadcasting services around the world to private consumers and to various companies and institutions. The company plans to launch an additional satellite, Amos 4, in 2012.
Published by Globes [online], Israel business news - www.globes-online.com - on July 4, 2011
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