Information Satellite Systems, Thales Alenia Space to set up joint venture
ZHELEZNOGORSK, Krasnoyarsk territory. Feb 5 (Interfax-AVN) - The Zheleznogorsk Information Satellite Systems Company (ISS) and the European company Thales Alenia Space (TAS, Cannes) will set up a joint venture, ISS General Designer and Director Nikolai Testoyedov said.
"We will sign the joint venture agreement with TAS within a month. Preparations have been on for 18 months," Testoyedov said.
In his words, the preparations were made in several areas.
"Naturally, we started from the work subject and distributed it by year, quantity and product range. We drafted and coordinated the business plan, the legal framework and human resources. As a rule, such work is very complicated. It involves lawyers and economists and requires corporate procedures - the approval of the board of directors. Yet the work helps learn the partner better and we think it will have a positive effect on our cooperation with TAS," he said.
"The joint venture will make any project possible," he said.
"It primary objective is not to sell satellites on Russian or foreign markets but to make in Russia the payload elements Russia is not manufacturing so far. This is not disinterested assistance of the West. We have a normal financial participatory interest," the Information Satellite Systems head remarked.