ICO North America to Launch Its GEO Satellite Using International Launch Services' Atlas V; Atlas Launch Vehicles Have Successfully Performed 78 Consecutive Missions
(RESTON, Va., March 16, 2006) -- ICO North America (ICO) today announced that it has signed an agreement to launch its geostationary satellite on an Atlas V rocket provided by International Launch Services (ILS). The Atlas V is manufactured by Lockheed Martin (NYSE:LMT), which is a partner in the ILS joint venture.
ICO's satellite launch, scheduled for a period beginning May 31, 2007, will be performed from the Cape Canaveral Air Force Station in Florida using the Atlas V-421.
"We are extremely pleased to place our next-generation Mobile Satellite Service (MSS) satellite on top of the world's most dependable launch vehicle," said Tim Bryan, chief executive officer of ICO North America. "We chose ILS for its commitment to meet our scheduling needs, and Atlas V because of its superior track record for successful missions."
"We are happy to be helping ICO lay the foundation for its new MSS system," said Mark Albrecht, president of ILS. "We are pleased to see ICO's continued confidence in the performance standards of ILS and Atlas. The Atlas launch vehicles have an impressive record of 78 consecutive successes, which continues to attract commercial customers that seek outstanding performance, reliability and schedule assurance."
ICO North America's Hybrid Satellite/Terrestrial MSS system is scheduled to be operational in July of 2007. ICO's satellite is being built by Space Systems/Loral (Loral). Loral and ICO North America have completed certification of all applicable FCC milestones to date.
In August 2005, ICO North America raised $650 million in privately placed debt to fund its advanced hybrid 2 GHz MSS system.