Major new multi million pound satellite investment deal for the UK
Components and major parts of the assembly will be built in the UK under the contract signed between satellite operator Eutelsat and aerospace manufacturer Airbus, Business Secretary Greg Clark announced.
The deal, worth hundreds of millions of pounds, between Eutelsat, one of the world’s top three providers of TV broadcast signals and Airbus is a huge vote of confidence in the UK expertise in the space industry, benefitting 500 high skilled workers involved in Eutelsat projects.
The new investment means Airbus sites in Portsmouth and Stevenage will manufacture key components of the two new satellites for Eutelsat, which will feature a brand-new electric platform to bring down size and cost, while boosting performance.
Eutelsat is to replace its three existing satellites with two new ones set to launch in 2021. Today’s announcement means that 6 out of 7 of the company’s next satellites will be partially built in Britain, representing inward investment of up to €40 million per year. ■