From: International Launch Services
Posted: Thursday, May 29, 2008
McLEAN, Va., May 29, 2008 -- ILS International Launch Services Inc., a world leader in launch services for commercial satellites, announced today that Khrunichev State Research and Production Space Center acquired the shares of ILS owned by majority shareholder, Space Transport Inc. Financial details were not disclosed. The transaction was completed today.
Vladimir Nesterov, General Director of Khrunichev, said: "Building on our strong working relationship with the ILS team, this transaction will cement ILS's leadership role in the commercial launch services industry."
Frank McKenna, ILS President, said: "We have an outstanding relationship with Khrunichev delivering commercial Proton launch services for our customers over the past 15 years. For ILS employees and customers, there will be no change in operations or management and we will continue our focus on performance. The completion of this transaction only strengthens the relationship with our launch partner, Khrunichev."
ILS holds the exclusive worldwide rights to market and sell commercial launch services on the Proton launch vehicle, built by Khrunichev, as well as the Angara vehicle under development. ILS provides satellite customers with a complete array of services and support, from contract signing through on-orbit delivery.
ILS will remain a U.S. company, incorporated in Delaware, and subject to U.S. regulations. ILS headquarters is in Northern Virginia, near Washington, D.C.
Khrunichev is the Moscow-based research and design center of the Proton launch system and one of the world's largest aerospace companies. Khrunichev also is developing the next generation of launch systems, the Angara. Key ILS statistics:
About ILS, Khrunichev and STI:
ILS provides satellite customers with a complete array of services and support, from contract signing through mission management and on-orbit delivery. ILS has exclusive rights to market the Proton, Russia's premier heavy-lift vehicle, to commercial satellite operators worldwide, as well as the Angara next-generation launcher. ILS is a U.S. company incorporated in Delaware, and headquartered in McLean, Va., a suburb of Washington, D.C. For more information, visit www.ilslaunch.com.
Khrunichev, one of the cornerstones of the Russian space industry, manufactures the Proton and is developing the Angara system. The Proton launches from facilities at the Baikonur Cosmodrome in Kazakhstan, and has a heritage of more than 330 missions since 1965. Khrunichev includes among its branches a number of key manufacturers of launch vehicle and spacecraft components in Moscow and in other cities of the Russian Federation. For more information, visit www.khrunichev.ru.
Space Transport Inc. (STI) is a British Virgin Islands-based company formed in 2006 for the sole purpose of holding an interest in ILS. The Chairman of STI is Mario Lemme, a longtime businessman and investor in companies doing business in Russia.
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