search
Front > News

Amos 6 satellite destroyed in SpaceX explosion

SpaceX fire Photo: Reuters
SpaceX fire Photo: Reuters
1 Sep, 2016 18:13
שלח תגובה במיילGlobes correspondent

The explosion in Florida jeopardizes the $285 million sale of Israel's Spacecom to China's Beijing Xinwei.

The SpaceX Falcon 9 rocket has exploded at Cape Canaveral, Florida destroying Israeli company Spacecom Satellite Communications Ltd's (TASE:SCC) Amos 6 communications satellite, which it was due to launch. The explosion occurred during a trial ahead of Saturday's planned launch of the Amos 6 satellite. Spacecom's share price fell 9% in late trading after news of the incident was reported. The fire is still raging in Florida but there have been no reports of deaths or injuries.

It is too early to tell how the destruction of the Amos 9 satellite will affect the $285 million sale of Spacecom to China's Beijing Xinwei Technology, which was agreed last month but has yet to be completed. The agreement between the companies did say that the sale depended, among other things, on the launch of Amos 6.

This is the latest delay in the launching of the Amos 9, which had originally been scheduled for early 2015.

Published by Globes [online], Israel business news - www.globes-online.com - on September 1, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

SpaceX fire Photo: Reuters
SpaceX fire Photo: Reuters
Commuter jam credit: Eyal Izhar Israeli commuters impose 45 minute limit

Data show that employees would rather change jobs than travel longer, so companies with fast public transport access find it easiest to hire.

Intel's 2025 vision credit: Intel Will Intel's sell-off include Israeli assets?

After the sale of Altera, "Globes" considers whether the troubled chipmaker will sell Mobileye or its Kiryat Gat fab.

CloudShare management team credit: PR Bow River Capital buys Israeli co CloudShare

The Denver-based alternative asset manager is paying an estimated $60-80 million for the SaaS provider of AI guided solutions for complex technical training requirements.

Housing prices continue to rise credit: Tali Bogdanovsky Israel's housing price rise riddle

Despite a huge inventory of unsold new homes in central Israel and weak sales, apartment prices are still rising. "Globes" analyzes the data.

Inflation credit: Tali Bogdanovsky March CPI higher than expected, housing prices rise

The March reading brings annual inflation in Israel down to 3.3% from 3.4% at the end of February.

Ben Gurion airport credit: Tali Bogdanovsky Abundance of affordable last minute Passover flight deals

The return of foreign airlines to Israel has brought down fares dramatically even for last minute vacations.

Karish rig credit: Eyal Izhar Kesem Energy signs gas deals worth $2.8b

The power plant, scheduled to begin operating in 2029, will buy gas worth $2 billion from Energean and a further $700-800 million from the Tamar partners.

Kosher for Passover Coca Cola bottles credit: social media Why are yellow cap Coca Cola bottles different from all others?

Nostalgic Coca Cola aficionados claim that the kosher for Passover version, made from sugar cane instead of high fructose corn syrup, is the genuine taste of the soft drink.

Avigdor Willenz credit: Intel Exclusive: Avigdor Willenz's Element Labs raises $50m

The Israeli startup is developing AI processors for inference, the stage in which AI models are activated after they have already been trained.

Ilya Sutskever credit: Cadya Levy SSI hiring dozens in Israel

AI company Safe Superintelligence is hiring many dozens of people in Tel Aviv, "Globes" has learned.

Johny Srouji credit: Amos Ben Gershom GPO Apple SVP leads senior delegation of execs to Israel

Jony Srouji: I am always filled with renewed energy and optimism about our shared achievements when I visit our R&D centers here.

Israeli apartments Credit: Shutterstock Apartments sold and rented

A selection of recent real estate deals in Israel in Tel Aviv, Ramat Gan, Petah Tikva, Givat Shmuel, Tiberias and Dimona.

Infinity Tower Tel Aviv credit: Courtesy Hagag Group French investors buy 2 Tel Aviv apartments for NIS 27.5m

The two apartments are in Hagag Group's Infinity Tower in the Summeil district.

El Al plane credit: Shutterstock El Al receives state approval to distribute dividend

The Israeli airline has now announced that it will be able to distribute up to 30% of net profit in 2025 and up to 40% in 2026-2028.

groundcover founders credit: Yossi Yarom Israeli observability co groundcover raises $35m

groundcover has developed a “Bring Your Own Cloud” (BYOC) observability solution, redefining the architecture of a modern observability platform.

Tel Aviv Stock Exchange credit: Shutterstock MagioreStock Foreign investment in TASE hits five-year high

Foreign investors have been flocking to the Tel Aviv Stock Exchange in recent weeks, the TASE research department tells "Globes."

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018