Italian rocket company Avio commits $469 million to expand operations
The Italian rocket company Avio, which owns the Vega-C rocket, today announced that is has approved a $469 million fund to expand its manufacturing capabilities, including building a production facility in the United States.
Announced on 12 September, the capital raise is part of a new ten-year business plan targeting an average annual growth rate of about 10% in turnover and more than 15% in core profit (EBITDA). This growth will be driven by a higher Vega C launch cadence, the introduction of Vega E, continued participation in the Ariane 6 programme, and the construction of a new defence production facility in the United States, which is expected to be completed by 2028.
The management of Vega-C had previously been controlled by the European Space Agency’s (ESA) commercial arm, Arianespace, which had owned and operated all of Europe’s rockets. ESA however is eliminating that commercial arm, shifting from the government-run model to the capitalism model, whereby it simply acts as a customer buying services from the private sector.
As part of that shift, Avio is in the process of taking back its Vega-C from Arianespace. Beginning next year it will be marketing the rocket directly to customers. This major investment reflects this change. The company is now free to pursue profits wherever it can find them, and it appears it wishes to market itself aggressively to American satellite companies as well as its defense industry.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon or from any other book seller. If you want an autographed copy the price is $60 for the hardback and $45 for the paperback, plus $8 shipping for each. Go here for purchasing details. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
The Italian rocket company Avio, which owns the Vega-C rocket, today announced that is has approved a $469 million fund to expand its manufacturing capabilities, including building a production facility in the United States.
Announced on 12 September, the capital raise is part of a new ten-year business plan targeting an average annual growth rate of about 10% in turnover and more than 15% in core profit (EBITDA). This growth will be driven by a higher Vega C launch cadence, the introduction of Vega E, continued participation in the Ariane 6 programme, and the construction of a new defence production facility in the United States, which is expected to be completed by 2028.
The management of Vega-C had previously been controlled by the European Space Agency’s (ESA) commercial arm, Arianespace, which had owned and operated all of Europe’s rockets. ESA however is eliminating that commercial arm, shifting from the government-run model to the capitalism model, whereby it simply acts as a customer buying services from the private sector.
As part of that shift, Avio is in the process of taking back its Vega-C from Arianespace. Beginning next year it will be marketing the rocket directly to customers. This major investment reflects this change. The company is now free to pursue profits wherever it can find them, and it appears it wishes to market itself aggressively to American satellite companies as well as its defense industry.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon or from any other book seller. If you want an autographed copy the price is $60 for the hardback and $45 for the paperback, plus $8 shipping for each. Go here for purchasing details. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News