MILPITAS, Calif., Jan. 27, 2010 (GLOBE NEWSWIRE) — Globalstar, Inc. (Nasdaq:GSAT), a leading provider of mobile satellite voice and data services to businesses, governments and consumers, today displayed the first of the Company’s new second-generation constellation satellites nearing completion at the Thales Alenia Space satellite manufacturing facility in Rome, Italy. A group of Globalstar investors and members of the media gathered to view the pre-launch manufacturing preparations of the new satellites. The group also met with senior company officials from Globalstar, satellite manufacturer Thales Alenia Space and launch services provider Arianespace. Globalstar expects to begin launching its second-generation constellation this summer and a 90-day launch window for the first of four launches of six satellites each has been scheduled to begin on July 5, 2010
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“Completing construction of the first of our production satellites and scheduling the window for our satellite launch are two key and highly essential operational milestones for Globalstar,” said Tony Navarra, President, Global Operations for Globalstar, Inc. “To complete the design and manufacture of a new second-generation satellite network is a time consuming and often painstaking process that has taken nearly four years to deliver. Beginning this summer we expect this process to culminate in the launch of the first of our new satellites. I would like to thank the large and diverse team of engineers and production managers from Thales Alenia Space and Arianespace for helping Globalstar make this possible.”
Globalstar Executive Chairman Jay Monroe added, “Our milestone accomplishments are a testament to the collaborative efforts of a large group of world-class technology and financial partners who have come together to build our next-generation network. In addition to our satellite manufacturer and launch provider I would also like to acknowledge the dedication and diligent efforts of those at Coface, BNP Paribas, Societe Generale, Natixis, Calyon, CIC, Hughes, Ericsson, Brown Brothers Harriman and Lazard who also share our vision of Globalstar’s future.”
“With the integration of the second-generation constellation now under way, I would like to say that I am especially proud of our long-standing collaboration with Globalstar. Together, we had to meet a number of challenges last year, and that clearly reflects our ability to work together as a team, smoothly and efficiently,” said Luigi Pasquali, CEO of Thales Alenia Space Italy.
In the fall of 2006, Globalstar contracted Thales Alenia Space for the design, manufacture and delivery of up to 48 new Globalstar second-generation satellites. Today’s investor and media event celebrates the pre-launch assembly, integration and testing (AIT) process of the first nearly completed Globalstar satellites. These AIT steps are integral to the final acceptance of the satellites prior to delivery to the launch site.
In the summer of 2007, Globalstar signed a launch services contract with Arianespace for Globalstar’s second-generation constellation. Four launches of six satellites each are to be launched using the Soyuz launch vehicle. These satellites will be integrated with the eight Globalstar satellites launched on the Soyuz in 2007.
Globalstar’s customers should expect to experience improvements in service as the new satellites are progressively brought into commercial service. Once the new constellation is fully deployed, Globalstar expects its service will return to the industry-leading voice quality and reliability levels that customers received prior to 2007. The new constellation also secures Globalstar’s space segment beyond 2025, providing the Company with the ability to deliver both legacy and enhanced next-generation satellite voice and data services for at least the next 15 years.
A copy of the meeting presentation can be found on the Globalstar corporate website Investor Relations page at the following link.
About Globalstar, Inc.
With over 375,000 subscribers, Globalstar is the world’s largest provider of mobile satellite voice and data services. Globalstar offers these services to commercial and recreational users in more than 120 countries around the world. The Company’s products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service. Global customer segments include: oil and gas, government, mining, forestry, commercial fishing, utilities, military, transportation, heavy construction, emergency preparedness, and business continuity as well as individual recreational users. Globalstar data solutions are ideal for various asset and personal tracking, data monitoring and SCADA applications.
For more information regarding Globalstar, please visit Globalstar’s web site at www.globalstar.com
Safe Harbor Language for Globalstar Releases
This press release contains certain statements such as, “Once the new constellation is deployed, Globalstar expects its service will return to the industry-leading voice quality and reliability levels that customers received prior to 2007,” that are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control, including demand for our products and services, including commercial acceptance of our new Simplex products, including the SPOT Satellite GPS Messenger; problems relating to the ground-based facilities operated by us or by independent gateway operators; the pace and effects of industry consolidation; changes in technology; our ability to continue to attract and retain qualified personnel; worldwide economic, geopolitical and business conditions and risks associated with doing business on a global basis; and legal, regulatory, and tax developments, including changes in domestic and international government regulation.
Any forward-looking statements made in this press release speak as of the date made and are not guarantees of future performance. Actual results or developments may differ materially from the expectations expressed or implied in the forward-looking statements, and we undertake no obligation to update any such statements. Additional information on factors that could influence our financial results is included in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.