SpyLOG
USD11/0229.8923+0.2128
EUR11/0239.6282+0.1515
RTS10/021605.12+0.12%
MICEX09/091518.22-2.46%
RIA Novosti

Russia

Russian company set to bail out Sea Launch project

Russian company set to bail out Sea Launch project
14:42 10/11/2009

Related News

BAIKONUR, November 10 (RIA Novosti) - RSC-Energia, a leading Russian spacecraft maker, is putting a strong effort to revive its bankrupt Sea Launch joint international project, the head of the company said on Tuesday.

The Sea Launch consortium, established in 1995, is owned by Boeing, RSC-Energia, Norway's Kvaerner ASA, Ukraine's Yuzhnoye design bureau and Yuzhmash production association. It is the only company that conducts launches from a sea-based platform near the Equator, which allows rockets to carry heavier payloads than from other latitudes.

"Boeing has paid off its Sea Launch debts and filed claims to other partners...We are taking steps to save the project so that Boeing receives dividends from it rather than putting claims against us," Vitaly Lopota said.

"We have solid prospects and have found investors," he added.

In June 2009, the provider of the Sea Launch service, California-based Sea Launch Co. LLC, filed for Chapter 11 bankruptcy protection in a U.S. court.

Sea Launch told the court that its assets were valued between $100 million and $500 million, but that its liabilities are between $500 million and $1 billion. The company hired Alston & Bird LLP to handle the restructuring.

While the company continues work on reorganization, preparations are underway for the launch of the Intelsat 15 communications satellite later this year, from its Land Launch site at the Baikonur Space Center in Kazakhstan.

Sea Launch has carried out 30 rocket launches from the Odyssey launch platform in the Pacific Ocean since 1999.

 

  • Add to blog
  • Send to friend
  • Share

Add to blog

You may place this material on your blog by copying the link.

Publication code:

Preview:

RIA NovostiRussian company set to bail out Sea Launch projectRussian company set to bail out Sea Launch project

14:42 10/11/2009 RSC-Energia, a leading Russian spacecraft maker, is putting a strong effort to revive its bankrupt Sea Launch joint international project, the head of the company said on Tuesday.>>

Send by e-mail

All fields are required!



Leave a comment









    Рейтинг@Mail.ru  Rambler's Top100
    © 2012 RIA Novosti