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Article: NovAtel Inc. Selected as Major Subcontractor for the Development of the European Navigation System Ground Reference Receiver.
- Article from:
- Business Wire
- Article date:
- December 12, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CALGARY, Alberta -- NovAtel Inc. (NASDAQ:NGPS), a precise positioning technology company, announced today that Alcatel Alenia Space Italia (AAS-I) and NovAtel as major subcontractor, together with Space Engineering, have been selected by the European Space Agency (ESA)/GaIn to begin work on development of the Navigation Ground Reference Receiver for Europe's state-of-the-art satellite navigation system. The value of this initial funding authorization to NovAtel is EUR 1.261 million ($1.48m US), which is expected to generate revenue for the company during Q4 2005 and Q1 2006. This is the first part of a fixed price contract which, provided it continues, will ultimately be ...