News

Globalstar shows off new satellite
(Jan  29  2010)

Globalstar has publicly displayed the first of its new second-generation constellation satellites, nearing completion at the Thales Alenia Space satellite manufacturing facility in Rome, Italy.

Globalstar says that it expects to begin launching the new constellation this summer, with a 90-day launch window for the first of four launches of six satellites each having been scheduled to begin on July 5, 2010.

“Completing construction of the first of our production satellites and scheduling the window for our satellite launch are two key and highly essential operational milestones for Globalstar,” said Tony Navarra, president, global operations for Globalstar.

“To complete the design and manufacture of a new second-generation satellite network is a time consuming and often painstaking process that has taken nearly four years to deliver. Beginning this summer we expect this process to culminate in the launch of the first of our new satellites.”

The process reaches back to the autumn of 2006, when Globalstar contracted Thales Alenia Space for the design, manufacture and delivery of up to 48 new second-generation satellites.

In the summer of 2007 this was followed by the signing of a launch services contract with Arianespace.

The four launches of six satellites each are to be launched using the Soyuz launch vehicle. These satellites will be integrated with the eight Globalstar satellites launched on the Soyuz in 2007.

Globalstar says that its customers should expect to experience improvements in service as the new satellites are progressively brought into commercial service.

In other news, Globalstar has also announced that it has received written notification from the NASDAQ informing that it has regained compliance with its listing rules, removing the threat of a possible delisting through a failure to meet NASDAQ requirements.

Globalstar had been given notice of a possible removal of its listing during the second half of 2009, due to the fact that, for 30 consecutive business days before 29th September 2009, the bid price of Globalstar common stock had closed below the minimum $1.00 per share NASDAQ requirement for continued inclusion.

The notice informed Globalstar that it had 180 days, or until March 29, 2010, to regain compliance, or to meet certain standards for an additional 180 day compliance period.

The company has now achieved compliance once more, as a result of Globalstar's common stock trading above $1.00 for a period of 10 consecutive days, according to the announcement.

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