Finmeccanica signs 775 mln euro satellite deal with Italian space agency

0 Comments | AFP, December, 2004

MILAN (AFP) — Italian defence group Finmeccanica said its unit Alenia Spazio has signed a 775 million euros (1.037 billion dollars) contract with the Italian space agency to supply four satellites for civil and defence uses to observe the earth.

Alenia is leading a consortium building the system that includes another Finmeccanica unit, Telespazio, as well as a number of small and medium-sized Italian companies, it said.

The 775 million euros contract covers the first three satellites and foresees a further 116 million euros for the fourth satellite, it said.

The contract is funded 620 million euros by the ministry for education, universities and research and 155 million by the ministry for defence, it said.

The first of the satellites will be...