Spacecom Satellite Communications Ltd. (TASE:SCC) today launched its Amos 5 communications satellite at 1:17 pm from the Baikonur Cosmodrome in Kazakhstan.
The four-stage launch will take nine and half hours, when the satellite will separate from the launch vehicle and the satellite will move to its orbiting position. This final stage will take two weeks. The satellite will then undergo a series on in-orbit tests for several weeks, before beginning commercial operations.
The Amos 5 launch was delayed several times, due to technical glitches during construction.
Spacecom has already signed several satellite communications services contracts for the Amos 5, the latest six weeks ago, a $27.6 million five-year contract with an African communications provider.
Spacecom's share price rose 3% today to NIS 64.89, giving a market cap of NIS 1.3 billion.
Published by Globes [online], Israel business news - www.globes-online.com - on December 11, 2011
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