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Loral wins Mexican satellite order
Posted: Tue, May 11, 2010, 7:28 AM ET (1128 GMT)
SS/Loral 1300 satellite illustration (SS/Loral) Space Systems/Loral (SS/L) has won a contract to build a new communications satellite for a financially troubled Mexican company. SS/L will build the Satmex 8 satellite, carrying a C- and Ku-band payload, for Satmex under terms of a contract announced Monday. The spacecraft will replace the existing Satmex 5 satellite serving the Americas. The spacecraft will be ready for launch by mid-2012. Satmex has experienced financial problems in recent years, going through bankruptcy reorganization in the US and Mexico; company bondholders blocked a proposed sale of Satmex to US-based EchoStar earlier this year.
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