Business

October 18, 2012

The Spaceship Company now fully owned by Virgin Galactic

Virgin Galactic has taken 100 percent ownership of its sister company, The Spaceship Company, by acquiring the 30 percent stake held by Scaled Composites since TSC’s formation under a joint venture with Virgin Galactic in mid-2005.

Financial terms have not been released.

This acquisition marks the successful completion of a long-term strategy and signifies the end of the first phase of TSC’s development. During this development phase, TSC completed the build out of manufacturing and assembly facilities in Mojave, Calif., established a specialized workforce and transitioned necessary assets from Scaled in order to begin building Virgin Galactic’s commercial fleet of WhiteKnightTwo carrier aircraft and SpaceShipTwo manned sub-orbital spacecraft.

The initial contract between Virgin and Scaled called for furnishing five SS2 vehicles and another WK2. These vehicles will be used for Virgin Galactic’s planned spaceline operations that will be based at Spaceport America in southern New Mexico.

The completion of the acquisition comes as Virgin Galactic and Scaled begin to plan the handover of the SS2 development program to Virgin Galactic, with Scaled remaining fully committed to the final portion of the WK2 and SS2 test flight programs prior to Virgin Galactic commencing commercial operations.

It is anticipated that rocket powered test flights of the SS2 prototype will begin within a few months at Mojave Air and Space Port. The hybrid rocket motor has been developed by Sierra Nevada Corp. based on the successful SS1 motor. Full duration test stand firings have been completed and it is reported that simulation hardware has been carried by SS2.

It is possible that part of the reason that TSC is taking over further SS2 development is that Scaled wishes to concentrate on its large new contract to build the Stratolaunch Systems Carrier aircraft. It will be the largest [by wing span] aircraft ever.

 




All of this week's top headlines to your email every Friday.


 
 

 
boeing-ana2

Boeing announces ANA’s commitment to more jetliners

Airline continues fleet modernization with Boeing airplanes Boeing and All Nippon Airways announced Jan. 30 the airline’s intent to purchase three 787-10 Dreamliners to add additional flexibility to the airline’s 787 fleet....
 
 

Demand for airplanes lifts Boeing’s 4Q profit

Boeing’s fourth-quarter profit rose 19 percent as demand for commercial airliners trumped weakness in its defense business. Investors looked past a muted outlook for 2015 earnings and sent the shares to a 52-week high Jan. 28. Chicago-based Boeing and European rival Airbus have prospered as airlines around the world have gone on a shopping spree,...
 
 

Boeing wins $51 million contract to sustain ICBM guidance system

HUNTINGTON BEACH, Calif. – Boeing will provide sustaining engineering support for the guidance system of the Minuteman III intercontinental ballistic missile for the U.S. Air Force, ensuring the safety, security and effectiveness of the nation’s land-based nuclear deterrent, under a recently-awarded $51 million contract. “Since 1958, Boeing has stood alongside the U.S. Air Force to...
 

 

Orbital stockholders approve merger with ATK’s aerospace, defense groups

Orbital Sciences Corporation announced Jan. 27 that at a special meeting, the company’s stockholders voted overwhelmingly to approve the proposed merger with the Aerospace and Defense Groups of Alliant Techsystems Inc., pursuant to the definitive transaction agreement dated April 28, 2014. Approximately 99 percent of the votes cast at the special meeting voted in favor...
 
 

Northrop Grumman, MDA successfully complete command cyber readiness inspection

Northrop Grumman provided invaluable assistance for the U.S. Missile Defense Agency’s Excellent rating from the Command Cyber Readiness Inspection conducted on the Missile Defense Integration and Operations Center networks at Schriever Air Force Base, Colo. The CCRI evaluates a site’s compliance with information assurance and network defense policies and configuration standards for ...
 
 

Raytheon acquires Tucson-based Sensintel, Inc.

Raytheon has acquired privately-held Sensintel, Inc., a leading provider of unmanned aircraft systems solutions to the intelligence and special operations markets. Located in Tucson, Ariz., with approximately 50 employees, Sensintel will become part of Raytheon Company’s Missile Systems business. The transaction is not expected to materially impact Raytheon’s sales or earnings in th...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>