In these financially challenging times, it’s good to learn that Thales Alenia Space welcomes the announcement by Globalstar, Inc. that it has received complete financing for its second-generation satellite constellation. As prime contractor on this program, Thales Alenia Space had adjusted its satellite production rate to enable its customer to finalize negotiations with its consortium of banks. Just as importantly, Thales Alenia Space had also supported the company’s application to receive a guarantee from the trade-credit insurance company Coface.
Based on this major milestone, the parties signed an amendment to the initial contract, specifying in particular the adjusted conditions for production and the new satellite delivery timetable, enabling launches to start in 2010.
