President and CEO of the European company Thales Alenia Space Jean-Loïc Gal and General Designer and General Director of JSC "Information Satellite Systems" Academician MF Reshetnev "Nicholas Testoedov signed an agreement to establish a joint venture.
Controlling stake in the new venture established in accordance with Russian legislation, will be owned by JSC "ISS". Geographically, the company will be located in Russia, in the city of Krasnoyarsk. Creation of joint venture marks the first stage of work outlined in the Memorandum of Understanding that was signed by the company in November 2011 during the Franco-Russian intergovernmental conference in Moscow. The main specialization of the joint venture will be the production of equipment for the Russian telecommunications satellites that meets modern international standards. The objectives of the Company will also include the development of innovative components for satellites. "Our collaboration with Thales Alenia Space — this is an example of a mutually beneficial relationship. Creation of a joint venture with the production of the components of the payload in our country provides access to new markets both in Russia and in other countries," — said the chief designer and CEO of "IRS" Nicholas Testoedov.