ORBCOMM Announces Successful Launch of Six Satellites
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FORT LEE, N.J.--(Business Wire)--
ORBCOMM Inc. (Nasdaq: ORBC), a global satellite data
communications company focused on providing two way Machine-to-Machine
(M2M) communications, today announced that six new ORBCOMM satellites,
have been successfully launched from Kapustin Yar, Russia. The launch
occurred at 2:36 AM EDT today and the satellites have been
successfully separated from the launch vehicle in the proper orbit.
Each satellite is undergoing initial in-orbit testing and is expected
to enter into commercial service within the next three months.
The Coast Guard and five Quick Launch satellites will be
positioned optimally to augment the existing ORBCOMM constellation,
providing additional capacity and improved message delivery speeds for
current and future ORBCOMM users. In addition, these satellites are
equipped with Automatic Identification System (AIS) payloads which
will enable them to receive and report AIS transmissions to be used
for ship tracking and other navigational activities. ORBCOMM has been
working closely with the US Coast Guard on the AIS project, and also
intends to market AIS data to other U.S. and international government
agencies, as well as to companies whose businesses require such
information.
"This is an important step for us and our customers," said Marc
Eisenberg, ORBCOMM's CEO. "With the successful launch of these six new
satellites, we expect to both improve the quality of our service and
enter the AIS data services business. The AIS capability onboard these
satellites make ORBCOMM the only company capable of providing space
based worldwide commercial AIS data services."
"We are pleased with the efficiency and thoroughness of the launch
operation," said Tony Robinson, ORBCOMM's Space Segment Vice
President. "The Russian Space Forces, OHB-System, Polyot, and
ROSCOSMOS provided superior support in helping us to launch these
satellites."
The launch of these six spacecraft is part of ORBCOMM's long term
plan to expand and upgrade its existing constellation of 29
satellites. In May 2008, ORBCOMM announced that it had signed a $117
million contract with Sierra Nevada Corporation for the design,
manufacture and delivery of 18 new satellites, with an option to
purchase as many as 30 more. Sierra Nevada has formed a strategic team
with subcontractors that include Boeing, ITT, Argon ST and MicroSat.
ORBCOMM plans to launch the 18 satellites in three separate missions
of six satellites each between 2010 and 2011.
About ORBCOMM Inc.
ORBCOMM is a leading global satellite data communications company,
focused on Machine-to-Machine (M2M) communications. Its customers
include General Electric, Caterpillar Inc., Volvo Group and Komatsu
Ltd. among other industry leaders. By means of a global network of 29
low-earth orbit (LEO) satellites and accompanying ground
infrastructure, ORBCOMM's low-cost and reliable two-way data
communications products and services track, monitor and control mobile
and fixed assets in four core markets: commercial transportation;
heavy equipment; industrial fixed assets; and marine/homeland
security. The company's products are installed on trucks, containers,
marine vessels, locomotives, backhoes, pipelines, oil wells, utility
meters, storage tanks and other assets. ORBCOMM is headquartered in
Fort Lee, New Jersey and has a Network Control Center in Dulles,
Virginia. For more information, visit www.orbcomm.com.
Forward-Looking Statements
Certain statements discussed in this press release constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements generally relate to our plans, objectives and expectations
for future operations and are based upon management's current
estimates and projections of future results or trends. Although we
believe that our plans and objectives reflected in or suggested by
these forward-looking statements are reasonable, we may not achieve
these plans or objectives. Our actual results may differ materially
from those projected as a result of certain risks and uncertainties.
These risks and uncertainties include, but are not limited to: the
substantial losses we have incurred and expect to continue to incur;
demand for and market acceptance of our products and services and the
applications developed by our resellers; loss or decline in business
from the Asset Intelligence division of General Electric Company
("GE"), value-added resellers, or VARs, and international value-added
resellers, or IVARs; technological changes; pricing pressures and
other competitive factors; the inability of our international
resellers to develop markets outside the United States; satellite
launch failures, satellite launch and construction delays and cost
overruns and in-orbit satellite failures or reduced performance; the
failure to launch the Coast Guard demonstration satellite by the
definitive launch date; the failure of our system or reductions in
levels of service due to technological malfunctions or deficiencies or
other events; our inability to renew or expand our satellite
constellation; financial market conditions and the results of
financing efforts; political, legal regulatory, governmental,
administrative and economic conditions and developments in the United
States and other countries and territories in which we operate;
changes in our business strategy; and the other risks described in our
filings with the Securities and Exchange Commission. Unless required
by law, we undertake no obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
ORBCOMM
Media Inquiries:
The Abernathy MacGregor Group
Jennifer Lattif, 212-371-5999
jcl@abmac.com
Copyright Business Wire 2008
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