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Officina Stellare awarded major astronomical contract

(3 August 2020 - Officina Stellare) Officina Stellare has been awarded a contract for the supply of a number of ground-based platforms intended for an Astronomical Research project launched by the Chinese Academy of Science (CAS).

It is one of the largest contracts achieved by the Company.

The contract signed by Officina Stellare is part of an important scientific program with a total value of approximately 20 million euros. The supply of the approximately 50 direct-drive mounts and tracking subsystems, designed and built by Officina Stellare on the basis of specific technical requirements agreed with the end customer, has a total value of over 2 million Euros, with a three-year delivery schedule which will begin already in the current year.

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(courtesy: Officina Stellare)

This is an important technical and commercial result obtained also thanks to the collaboration with Galaxy Scientific Group Limited of Hong Kong, the Company’s partner in the Chinese and Southeast Asian market with which the contract was signed.

With this contract, Officina Stellare further consolidates the already rewarding multi-year presence in the strategic Chinese market and opens the door to future and outstanding collaborations.

The plan to open a sales office in the Far East, already envisaged by the Company’s industrial and development plan and part of the strategic expansion activities that concern that region, is part of this context. The APAC area (Asia-Pacific), is one of the most interesting from the point of view of the investments in the Research and Aerospace fields, areas which perfectly match the industrial specificity of the products developed and manufactured by Officina Stellare SpA.

Officina Stellare, is a small medium-sized company with headquarters in Sarcedo (VI), listed on the AIM of Borsa Italiana and leader in the design and manufacture of complex opto-mechanical and aerospace instrumentation for Ground and Space-based applications. The Company stands out in the Italian and international industrial panorama for the entirely in-house availability of the know-how and processes necessary for the development, implementation and commissioning of its products and systems. Combining top-level technical-scientific skills in very different areas with flexibility and time-to-market actions, is one of the most significant and specific strengths of Officina Stellare SpA. The company, in addition to being involved in space experimental and research projects, counts among its clients prestigious Research Institutes and Universities, Space Agencies, corporate and government players in the aerospace and defense market, both nationally and internationally. Officina Stellare has just approved the 2019 draft budget with a production value of 7.9 million euros, an increase of + 59% y/y, recording an increase in Ebitda of + 159.7% (equal to 2.9 million euros) and profit of + 232.9%, in line with its growth and development plan, which envisages the strengthening of its presence in the markets in which it is already a protagonist, the expansion towards new market segments of the New Space Economy and the construction of the first Italian Space Factory.