ASTROTECH LEVERAGES AEROSPACE ELITE TO ENHANCE NEW BUSINESS MODEL
Houston, TX (March 25, 2009) -
Astrotech Corporation (Nasdaq: SPAB), a leading provider of commercial space services, today announced its Astrotech Space Operations subsidiary is partnering with Syncomm, a derivative of the esteemed Hughes Aircraft Company, to provide the commercial satellite customer with expertise in end-to-end aerospace systems.
“Adding this component to our existing core capabilities further strengthens Astrotech’s End-to-End Mission Assurance model,” explains General (ret) Lance W. Lord, Astrotech Space Operations chief executive officer. “We are now able to provide greater support for our satellite customers offering enhanced, more comprehensive capabilities.”
Tapping competencies from aerospace’s top innovators and leaders, Astrotech-Syncomm Engineering Services will provide customers with an inclusive solution including cost-effective pricing structures, engineering services, and reliability models during any point in the satellite’s lifecycle. Syncomm Engineering Services, comprised of Hughes and other aerospace industry experts, provides resources in multiple engineering disciplines including mechanical, electrical, environmental, and optical engineering for both ground and spacebased projects and programs. Also included in the Astrotech-Syncomm enterprise is Develecom, a strategic solutions company bringing project financing, insurance and underwriting support.
“It is our vision to leverage Astrotech’s 25 years of payload engineering prowess to provide services at substantially competitive price points,” said Randy Brinkley, Syncomm co-founder. “Astrotech-Syncomm will capitalize on the extensive professional knowledge and technical expertise of the Hughes legacy to provide high-quality engineering, as well as strategic business services to its aerospace customers.”
About Astrotech Corporation
Astrotech is a commercial and entrepreneurial force in the space industry providing a full spectrum of products and services to both the government and private sectors. The Company offers spacecraft prelaunch processing facilities and services, production of valuable commercial products in space, development and extension of space-based products to the consumer market, space access and payload integration services program and engineering support ranging from development and manufacturing of flight hardware to large scale government project management.
The statements in this document may contain forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include, but are not limited to, continued government support and funding for key space programs, product performance and market acceptance of products and services, as well as other risk factors and business considerations described in the company's Securities & Exchange Commission filings including the annual report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. The Company assumes no obligation to update these forward-looking statements.
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