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Globalstar Gets Lift from Production Launch

by: Eric Savitz August 27, 2008 | about stocks: GSAT    

Eric Savitz

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Globalstar (GSAT) shares are getting a lift today from the company’s announcement that satellite manufacturer Thales Alenia Space has begun production assembly, integration and testing on the first of Globalstar’s second-generation satellites. The new satellites are scheduled for delivery in less than a year.

In November 2006 Globalstar contracted with Thales Alenia for 48 second-generation satellites. The company in September 2007 signed a contract with Arianespace to launch the satellites, starting in the second half of 2009. It will use Soyuz launch vehicles to put the satellites into orbit.

Globalstar says the new satellites should have a 15-year lifespan, and should provide faster data speeds than its original satellite constellation.

GSAT today was up 19 cents, or 7.36%%, to $2.77.

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