Commenting on the EU Galileo contract announced today, Lord Drayson, Science & Innovation Minister, said:
"This is great news for Surrey-based satellite manufacturer SSTL and the British space industry. The contract for 14 satellites will provide approximately €236m (£212m) of work for SSTL and cement their position as key player in this booming industry."
"The UK is fast becoming a world-wide destination for high-tech, high-skilled advanced manufacturing – and the UK space and satellite industry, with their strong order books for the next five years is a sterling example of this.
"It is these high-tech sectors which are bucking the trend during the recession, creating jobs and stimulating economic growth. Looking ahead, our space industry is forecast to grow on average by about 5% a year until 2020. This new contract will strengthen its position further."
Notes for Editors
1. The European Union contract for Galileo – the European Global Navigation Satellite System set to compliment GPS - will go to a consortium involving the British manufacturer, SSTL.
2. The total value of this contract is €566m (£510m). This will provide €236m (£212m) of work for satellite manufacturer SSTL which is based in Surrey.
3. For media enquiries, contact Rachel Clarke, BIS press officer, Tel: 18002 020 7215 5945 or email: email@example.com
Department for Business, Innovation & Skills
The Department for Business, Innovation and Skills (BIS) is building a dynamic and competitive UK economy by: creating the conditions for business success; promoting innovation, enterprise and science; and giving everyone the skills and opportunities to succeed. To achieve this it will foster world-class universities and promote an open global economy. BIS - Investing in our future.
Phone: For enquiries please contact the above department