Bid for Galileo Concession
February 26 2004 - 2:15AM
RNS Non-Regulatory
Vega Group PLC
26 February 2004
For Immediate Release 26 February 2004
VEGA Group PLC
Working with Inmarsat, Thales and EADS
in bid for euro 2.2 billion Galileo Concession
VEGA is pleased to announce that it has been named as an associated party to the
iNavSat Consortium, in support of Inmarsat Ventures, Thales and EADS Space.
iNavSat is one of three consortia to have been selected by the Galileo Joint
Undertaking, on behalf of the European Commission and the European Space Agency,
to bid for what they are estimating will be the euro 2.2 billion Galileo
Concession.
Galileo is a European Union project to develop a new advanced satellite
navigation system. The Concession will form a Galileo Operating Company, for the
deployment and operation of the Galileo satellites.
VEGA has been involved in the study and design phases of Galileo for the last
four years, and is now well positioned to offer wider services to the programme.
Phil Cartmell, VEGA's Chief Executive commented "We are delighted to be
associated with the iNavSat team. Working with strategic partners to address
major industry initiatives such as Galileo, is core to VEGA's business
strategy."
For further information:
VEGA Group PLC : Phil Cartmell - Chief Executive 01707 391999
www.vega.co.uk
Buchanan Communications : Tim Anderson 020 7466 5000
www.buchanan.uk.com Nicola Cronk
This information is provided by RNS
The company news service from the London Stock Exchange
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