DGAP-Ad-hoc: OHB SE / Key word(s): Contract
October 5, 2017, Bremen - The European Commission has decided to exercise one of its contractual options for the European Galileo navigation system and has therefore ordered a further four satellites from OHB System AG, a subsidiary of OHB SE (Prime Standard, ISIN: DE0005936124). The European Commission and ESA have a delegation agreement by which ESA acts as design and procurement agent on behalf of the EU represented by the European Commission - Galileo's owner.
This contract has a volume of EUR 157.75 million. Assembly and testing of the navigation satellites will commence immediately after the completion of the Batch 3 satellites under the previous order.
Accordingly, OHB System AG has been awarded contracts for a total of 34 Galileo satellites to date. Of these, 14 are already in orbit.
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05-Oct-2017 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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616355 05-Oct-2017 CET/CEST