EADS Astrium Acquires SSTL
[Satellite Today 01-14-09] EADS Astrium completed its acquisition of Surrey Satellites Technology Ltd. (SSTL), EADS CEO Louis Gallois confirmed at a press conference Jan. 13.
This follows approval from the European Commission (EC), granted in December, and a decision by the University of Surrey to sell its majority stake of 85 percent in the small satellite manufacturer. SSTL will remain an independent U.K. company with its individual brand and approach to space.
“The UK space industry is in a strong position at present,” Colin Paynter, Astrium’s CEO, said in a statement. “At Astrium we have a healthy order book and we are recruiting engineers, scientists and technicians to build telecommunication and scientific satellites. Acquiring SSTL means we will have a substantial complement to what we can offer customers around the world. SSTL has expertise in small satellites and an innovative approach to developing new markets for space.”