PALO ALTO, CA -- (Marketwire) -- 10/16/12 -- Space Systems/Loral (SS/L) (NASDAQ: LORL), the world's leading provider of commercial satellites, today announced that the EchoStar XVI satellite, designed and built for EchoStar Corporation (NASDAQ: SATS), has arrived at the Baikonur Space Center in Kazakhstan, where it is scheduled to be launched aboard a Proton Breeze M vehicle provided by International Launch Services (ILS).
"EchoStar and Space Systems/Loral share a commitment to high quality, high performance, and exceptional service," said John Celli, president of Space Systems/Loral. "EchoStar XVI is another example of our capability to deliver satellites with the power to maximize high definition content delivery."
EchoStar XVI is a powerful direct broadcast satellite (DBS) that is fully leased to DISH Network for use in its Direct-to-Home (DTH) services in the United States. When launched, the satellite will be positioned at 61.5 degrees West longitude.
EchoStar XVI is the eighth satellite that SS/L has delivered to EchoStar. The 20-kilowatt satellite is based on the highly reliable Space Systems/Loral 1300 space-proven platform which provides the flexibility to support a broad range of applications and technology advances. The spacecraft is designed to deliver service for 15 years or more.
EchoStar Corporation (NASDAQ: SATS) is the premier global provider of satellite operations and video delivery solutions. EchoStar's wholly-owned subsidiary, Hughes, is the world's leading provider of satellite broadband services, delivering network technologies and managed services for enterprise and government customers in more than 100 countries.
Headquartered in Englewood, CO, with additional business units world-wide, EchoStar is a multiple Emmy award-winning company that has pioneered advancements in the set-top box and satellite industries for nearly 30 years, consistently delivering value for customers, partners and investors through innovation and outstanding quality. Over the last three decades EchoStar's contribution to video technology has been a major influencer to shifts in the way consumers view, receive and manage TV programming.
EchoStar's consumer solutions include HughesNet®, North America's #1 high-speed satellite Internet service, Sling Media's Slingbox® products, and EchoStar's line of advanced digital video set-top box products for the European free satellite and terrestrial viewer markets.
EchoStar has shipped over 80 million connected devices to digital TV operators and retail markets around the world and secured a number of industry awards and market firsts for its technology.
For more information, please visit www.echostar.com.
About Space Systems/Loral
Space Systems/Loral, a subsidiary of Loral Space & Communications (NASDAQ: LORL), has a long history of delivering reliable satellites and spacecraft systems for commercial and government customers around the world. As the world's leading provider of commercial satellites, the company works closely with satellite operators to provide spacecraft for a broad range of services including television and radio distribution, digital audio radio, broadband Internet, and mobile communications. Billions of people around the world depend on SS/L satellites every day. 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. On June 26, 2012, Loral announced that it had entered into a definitive agreement to sell Space Systems/Loral to MacDonald, Dettwiler and Associates Ltd. (TSX: MDA). The closing of the transaction is subject to regulatory and other customary closing conditions.
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 2011 annual report on Form 10-K filed February 29, 2012. The reader is specifically referred to this document, 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 swings in the global financial markets, financial covenants in SS/L's credit agreement, increases in interest rates and access to capital; (2) risks associated with satellite manufacturing, including competition, cyclicality of SS/L's end-user markets, 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; (4) risks related to the proposed sale of SS/L, including the effect on the business of SS/L prior to the consummation of the sale and the ability to satisfy the contractual conditions to closing the sale, including the receipt of regulatory approval; and (5) 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.
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2123006