OHB remaining involved in Galileo projects in the future
In December 2003, OHB Technology lodged a bid for the role of concession-holder for the operation of the GALILEO satellite constellation. The Company's proposal provided for a phase-based approach allowing the satellite navigation system to be established without any major initial capital spending by industry or the public sector in tandem with a reduction in market and technological risks. It was with great regret that we learned that our approach, which had been supported by many industrial partners, was not accepted by the Galileo joint undertaking. In the meantime, all the remaining bidders have established contact with us and invited us to join their syndicates. We will be making a decision on which syndicate to join in the near future and announce this in due course.
The rejection of our concession proposal in no way affects our participation in the construction of the Galileo satellites. We are still involved in all current phases and, looking forward, will continue to produce components for the constellation within the Galileo Industries project in line with the treaties signed among the European countries governing the respective shares assigned to their national industry.