Boeing May Get $400 Million Satellite Order

The commercial-satellite manufacturing business of Boeing is likely to receive a multi-satellite order valued at more than $400 million from Intelsat, a report says.
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Boeing's

(BA) - Get Report

commercial-satellite manufacturing business is likely to receive a multi-satellite order valued at more than $400 million from

Intelsat

, the

Wall Street Journal

reports, citing people familiar with the matter.

No final agreement has been signed, but negotiations between Boeing and Intelsat, which has the world's biggest commercial satellite fleet, have been making steady progress over recent months, the

Journal

reports. A contract for as many as four satellites with an estimated total value of between $400 million and $550 million is expected to be signed within the next few weeks.

"Boeing is actively engaged in a number of commercial satellite pursuits, but for competitive reasons, we don't disclose the details," a Boeing spokesman told

Reuters

when asked about the report.

The anticipated deal, first reported by industry publication

Space News

, would help rejuvenate Boeing's satellite-making unit, which has barely broken even in recent years, according to the

Journal

.

Intelsat previously had confirmed that it was seeking bids for a number of new satellites as part of a capital budget slated to top $525 million this year, the

Journal

reports.

Loral Space

(LORL) - Get Report

also is believed to be another bidder still talking to Intelsat.