OHB Technology AG establishing a new company in Luxembourg
Partnership agreement with SES Astra signedIn a further step in its international growth strategy, OHB Technology AG (ISIN: DE0005936124) has established a new space-technology company in Luxembourg known as LUXSPACE S.a.r.l.
LUXSPACE is responsible for offering space-technology and defense systems and services in the global commercial and institutional market. The main focus will be on small satellites for research, communications, navigation and earth observation.
The reason for the decision to establish a new company is Luxembourg’s growing importance in the space technology industry as well as the closer partnership ties with the leading global satellite communications operator, SES GLOBAL, and its European subsidiary, SES ASTRA, both of which are based in Luxembourg. In this connection, a partnership agreement was signed by OHB Technology AG and SES ASTRA S.A. in Luxembourg at the end of 2004 with the aim of using the LUXSPACE platform to jointly develop and market various projects in the communications, navigation and earth observation areas.
“LUXSPACE is a further component of our network strategy, under which we want to establish a systems integrator in key European space nations,“ explains Marco Fuchs, CEO of OHB Technology AG. "What we share with SES is the fact that we both hold stakes in US satellite operator ORBCOMM,” he adds. “As well as this, Luxembourg’s full membership of the European Space Agency ESA as of January 1, 2005 offers a promising basis for new projects and activities,” says Fuchs, explaining the reason for this location and going on to say that Luxemburg boasts favorable economic and political conditions, making it much easier for a mid-cap company such as OHB to incorporate a new company.
LUXSPACE’s operations commenced at the beginning of 2005 at its offices located on the SES ASTRA S.A. campus in Betzdorf.