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Loral Awarded
Contract to Build 60 Satellites for Globalstar 2GHz Constellation
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Globalstar has
awarded Space Systems / Loral (SS/L) a contract for design and
future construction of its 2 GHz satellite system. The contract
calls for a new constellation of 56 low-earth-orbit (LEO)
satellites, supplemented with four geostationary orbit (GEO)
satellites to provide additional system capacity, particularly for
data applications,  along
with coverage to remote areas not easily served by Globalstar's
LEO satellites. With the signing of the contract, work will
commence immediately on the planning and designing of the new
spacecraft. The contract calls for all 60 satellites to be
delivered to Globalstar on orbit starting in 2006. SS/L was also
responsible for the design and construction of the original
Globalstar satellite constellation. No financial or technical
details were disclosed.
 The
U.S. Federal Communications Commission (FCC) granted Globalstar a
license to use the 2GHz mobile radio spectrum, in July 2001. The
contract fulfills the FCC requirement that Globalstar enter into a
construction contract, by July 17, 2002, for new satellites to use
this spectrum.
On
February 15, 2002, Globalstar filed a voluntary petition under
Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy
Court in Delaware. The reorganization is likely to occur over a
period of months. Globalstar listed US$573.4 million in assets and
US$3.34 billion in debts in the Chapter 11 filing. The company had
approximately US$46 million of cash on hand at that time.
Globalstar and its partners have been developing a new business
plan that is intended to form the basis for restructuring the
company's finances and to ensure uninterrupted service for
Globalstar customers. In any financial restructuring, all
partnership interests will likely be severely diluted, in which
event they will have little or no value, or be eliminated
entirely. The company has been able to reduce its operating
expenses more rapidly than originally planned. The satellite
constellation has continued to perform exceptionally well with
continued very high rates of call retention and call completion.
Copyright 2001 - Andrews Space & Technology
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