Space Systems/Loral To Build DirecTV Satellites
Space Systems Loral (SS/L), a Palo Alto, Calif.-based satellite manufacturing subsidiary of Loral Space and Communications [OTCBB: LRLSQ], has received a welcome order from DirecTV, an El Segundo, Calif.-based satellite TV unit of Hughes Electronics [NYSE: GMH], to build two satellites, DirecTV 8 and DirecTV 9. SS/L expects the order to generate $220 million in revenues. DirecTV 8 is scheduled to be delivered in the late first quarter of 2005 and will provide U.S. coverage from the 101 degrees West Longitude orbital slot. DirecTV 9S is scheduled for delivery in the second quarter of 2005. It will be the primary back up for satellites DirecTV 4S and 7S and will be designed to operate at either 101 or 119 degrees West longitude.