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Article: NovAtel Inc. Selected as Major Subcontractor for the Development of the European Navigation System Ground Reference Receiver
- Article from:
- CCNMatthews Newswire
- Article date:
- December 12, 2005
CopyrightCopyright 2005 CCNMatthews Newswire. Provided by ProQuest LLC. (Hide copyright information)
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CALGARY, ALBERTA--(CCNMatthews - Dec. 12, 2005) - 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 ...