Friday, May 30, 2008

BVI holding company Space Transport Inc sells its majority stake in the worlds leading commercial satellites launch company ILS

On May 29, 2008, International Launch Services Inc. (ILS), a world leader in launch services for commercial satellites, announced that Khrunichev State Research and Production Space Center acquired its shares owned by the majority shareholder, BVI holding company Space Transport Inc. Financial details of the completed transaction were not disclosed.

Khrunichev () is the Moscow-based research and design center of the Proton launch system, and one of the world's largest aerospace companies. International Launch Services is a U.S. company incorporated in Delaware and holding the exclusive worldwide rights to market and sell commercial launch services on the Proton launch vehicle built by Khrunichev, and the Angara next-generation launcher which is under development, to commercial satellite operators worldwide. ILS provides satellite customers with a complete range of services and support, from contract signing through mission management and on-orbit delivery.

Space Transport Inc. (STI) was formed in the British Virgin Islands in 2006, with the sole purpose of holding an interest in ILS. The chairman of the BVI company is Mario Lemme, a longtime businessman and investor in companies having business in Russia.