Full Press Release Details
| SPACEHAB, Inc. | |
| 12130 Highway 3, Bldg. 1 | |
| Webster, Texas 77598-1504 | |
| 1.713.558.5000 | |
| fax: 1.713.558.5960 | |
| www.spacehab.com |
SPACEHAB SUBSIDIARY WINS $20.0 MILLION SPACECRAFT FACILITY CONTRACT
Additional Spacecraft Accommodations to be Developed in California
Texas, November 14, 2006 SPACEHAB, Incorporated (NASDAQ: SPAB), a leading provider of commercial
space services, announced today that its Astrotech Space Operations subsidiary
has been awarded a $20.0 million contract to design and build a payload
processing facility for the U.S. Government, Office of Space Launch.
facility, to be used for pre-launch spacecraft processing, will be located on
the Company s existing 60-acre site at Vandenberg Air Force Base and will
enhance the West Coast capabilities already provided. Under a firm fixed-price
contract with the Government, design work begins immediately with construction
commencing March 2007 and concluding September 2009. Under the terms of the
contract, the Company will design and construct the facility to government
requirements while maintaining ownership and operation of the facility.
contract not only gives us the means to support the needs of this latest
customer, but helps us grow our operations and service offerings to all
customers on the West Coast, said Jim Royston, Senior Vice President and
General Manager of Astrotech. The Company currently owns and operates a
full-service facility for processing satellites and upper stages at Vandenberg
Air Force Base, supporting expendable Atlas, Delta, Pegasus, and Taurus launches
from the Western Range. The new facility will include 8,000 square feet of
additional capacity that enables the processing of payloads that will utilize
up to five-meter fairings.
Company was awarded a $1.2 million contract in May 2006 to perform the
feasibility study and preliminary design for this payload processing facility.
The contract called for an engineering and concept development report for a new
processing facility and associated infrastructure. As intended, this effort led
to the contract award for final design and construction of the processing
has extensive experience in designing, building, and operating spacecraft
processing facilities. The Company s Titusville, Florida location is situated
on a 62-acre tract approximately three miles west of Kennedy Space Center,
adjacent to the Spacecoast Regional Airport. This complex consists of nine
major buildings dedicated to spacecraft non-hazardous processing, hazardous
processing, payload storage, warehouse storage, and customer office
accommodations. With over 150,000 square feet of
facility space, Astrotech processes virtually all U.S.-based commercial
spacecraft at this location and a considerable percentage of government
About SPACEHAB, Incorporated
Incorporated in 1984,
SPACEHAB (www.spacehab.com) is a leading provider of commercial
space products and services to NASA, international space agencies, Department
of Defense, and private customers
worldwide. The Company offers end-to-end space access solutions, space systems
development, mission
integration and pre-launch processing facilities and services, and large-scale
government program support services. From securing a spaceflight opportunity
and facilitating the integration of spacecraft and payloads for launch, to
developing human habitats, supplying the International Space Station, and
coordinating the transport and operation of cargo and experiments to and from
orbit, SPACEHAB clearly demonstrates that We Mean Business in Space.
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
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