Surrey Business News

09/01/10 Contract For 14 Satellites - EU Galileo

Commenting on the EU Galileo contract, 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."

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