Boeing Gets Project

Tue., May 5, 1998

From Staff

The Boeing Co. is taking a minority stake in Mobile Communications Holdings Inc. and will oversee design, production and deployment of Ellipso satellites, the companies announced Monday.

The extent of the share Boeing will have in Mobile Communications, based in Washington, D.C., and other terms of the equity agreement are still being negotiated and should be determined over the next week or two, officials said.

As prime contractor, Boeing expects to realize more than $1.4 billion from ground and space work on the Ellipso satellite communications system, including at least two launches.

The project is expected to employ as many as 300 Boeing workers.

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Boeing Gets Project

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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