PALO ALTO, Calif., July 16, 2009 (GLOBE NEWSWIRE) -- Space Systems/Loral (SS/L), a subsidiary of Loral Space & Communications (Nasdaq:LORL) and the leading provider of commercial satellites, today announced that it has been selected to provide a satellite for Telesat, one of the world's leading fixed satellite services operators. The new satellite, called Telstar 14R, will replace Telesat's Telstar 14/Estrela do Sul, utilizing SS/L's 1300 bus to deliver high-powered Ku-band services to growing markets throughout the Americas and over the Atlantic Ocean.
"Telstar 14R is the fifth satellite that we will add to our backlog this year, and it demonstrates the versatility of our satellite platform," said John Celli, president and chief operating officer of Space Systems/Loral. "The satellite's five beams and reconfigurable transponder capacity will enable Telesat to address growing demand for broadband and video services in the Americas, and to match satellite capacity to market need."
Space Systems/Loral designed Telstar 14R with five antenna beams that have high-power transponders with substantial on-orbit switching capability. The satellite will provide additional capacity and improved capabilities in its coverage areas, which include: Brazil, the Continental United States (including the Gulf of Mexico and northern Caribbean), the Southern Cone of South America, the Andean region (including Central America and southern Caribbean), and the North and Mid-Atlantic Ocean.
"The flexibility and high transponder power of the Space Systems/Loral 1300 satellite bus is ideal to meet the growing demand for Ku-band services throughout the Americas and over the Atlantic Ocean Region," said Dan Goldberg, president and chief executive officer of Telesat. "Space Systems/Loral is on track for an early delivery on the ground of our Nimiq 5 satellite and did an exceptional job on the recently launched Telstar 11N satellite. As a result, I am confident that SS/L, working with the Telesat team, will deliver successfully on the Telstar 14R program."
The new Ku-band satellite will replace Telstar 14 at its 63 degrees West orbital location and will have 46 active transponders, of which 27 will be fixed and 19 will be switchable. Telstar 14R is based on the SS/L 1300 platform, which has a long history of reliability and the flexibility for a broad range of applications. Scheduled for launch in the second half of 2011, the satellite is designed to provide service for 15 years or more.
About Telesat
Headquartered in Ottawa, Canada, with offices and facilities around the world, Telesat is the fourth-largest fixed satellite services operator. The company provides reliable and secure satellite-delivered communications solutions to broadcast, telecom, corporate and government customers. Telesat has a global state-of-the-art fleet of 11 satellites with two additional satellites under construction, and manages the operations of 13 additional satellites for third parties. Telesat is privately held. Its principal shareholders are Canada's Public Sector Pension Investment Board and Loral Space & Communications Inc. (Nasdaq:LORL).
About Space Systems/Loral
Based in Palo Alto, California, SS/L designs and builds satellites and spacecraft systems for commercial and government customers around the world. As the leading provider of commercial satellites, the company works closely with satellite operators to deliver spacecraft for a broad range of services including direct-to-home television, digital audio radio, broadband Internet, and digital multimedia broadcasting. With more active transponders on three-axis controlled spacecraft than any other satellite manufacturer, SS/L helps customers meet business objectives with advanced solutions based on space-proven heritage designs. For more information, visit www.ssloral.com.
About Loral Space & Communications
Loral Space & Communications is a satellite communications company. Through its Space Systems/Loral subsidiary, the company is a world-class leader in the design and manufacture of satellites and satellite systems for commercial and government applications including direct-to-home television, broadband communications, wireless telephony, weather monitoring, and air traffic management. Loral also owns 64 percent of Telesat, one of the world's largest providers of satellite services. Telesat operates a fleet of telecommunications satellites used to broadcast video entertainment programming, distribute direct-to-home video and broadband data services, and other value-added communications services. For more information, visit Loral's web site at www.loral.com. LORL-G
This document contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this press release, the words "believes," "expects," "plans," "may," "will," "would," "could," "should," "anticipates," "estimates," "project," "intend" or "outlook" or other variations of these words or other similar expressions are intended to identify forward-looking statements and information. In addition, Loral Space & Communications Inc., Space Systems/Loral, Inc. or their representatives have made or may make forward-looking statements, orally or in writing, which may be included in, but are not limited to, various filings made from time to time with the Securities and Exchange Commission, and press releases or oral statements made with the approval of an authorized executive officer of the company. Actual results may differ materially from anticipated results as a result of certain risks and uncertainties which are described as "Risk Factors" and in the "Commitments and Contingencies" note to the financial statements in Loral's most recent annual report on Form 10-K and subsequent reports on Form 10-Q. The reader is specifically referred to these documents, as well as the company's other filings with the Securities and Exchange Commission. Risks and uncertainties include but are not limited to (1) risks associated with financial factors, including the global economic downturn, our history of losses and financial covenants in SS/L's credit agreement; (2) risks associated with satellite manufacturing, including competition, contractual risks, creditworthiness of customers, performance of suppliers and management of our factory and personnel; (3) regulatory risks, such as the effect of U.S. export control and economic sanction laws; and (4) other risks, including litigation. The foregoing list of important factors is not exclusive. Furthermore, Loral and SS/L operate in an industry sector where securities values may be volatile and may be influenced by economic and other factors beyond the control of Loral and SS/L.