Intelsat, APT Satellite Join Hands to Tap Asia-Pacific Market
Posted on: Saturday, 3 December 2005, 09:00 CST
Intelsat, APT Satellite join hands to tap Asia-Pacific market
HONG KONG, Dec. 2 (Xinhua) -- Bermuda-based satellite group Intelsat Friday signed here an agreement with its Asia Pacific counterpart APT Satellite to jointly explore market resources of the region.
"We believe that the agreement with APT Satellite positions us well to take advantage of any new business initiatives or opportunities that arise in the Asia Pacific region, including China, over the near and longer terms," said Intelsat CEO David McGlade at a brief signing ceremony held in Hong Kong on Friday morning.
Created in 1964 through a consortium among 147 nations, Intelsat is a leading company in the world's satellite communications, owning 28 satellites and providing services to around 200 countries.
But the group doesn't do a lot of business in many Asian countries, including China, said McGlade, noting that the agreement with APT Satellite will give Intelsat access to the Asian market.
"We believe that entering in this agreement creates value at the company and customer levels," he said.
However, Intelsat can't predict revenue increase to be brought by the cooperation with APT Satellite. "Our team has to sit down and discuss with our customers on their needs," McGlade told Xinhua. "Overtime, we'll see more and more income."
On the other hand, APT Satellite also expected the cooperation with Intelsat to give them access to Intelsat's capacity in other regions of the world via Intelsat's 28 satellites.
"The alliance will...enable APT Satellite to provide more comprehensive services to its customers," said Ni Yifeng, executive director and president of APT Satellite.
Listed in both Hong Kong and New York, APT Satellite owns five satellites and has provided transmission of content to their customers in the region since its establishment in 1992.
The two companies also looked forward to providing new services to their customers through the cooperation described as "strategic."
"Both Intelsat and APT Satellite will continue to explore other potential cooperation initiatives in the region, such as satellite digital multimedia broadcasting services," said Ni.
Source: Xinhua News Agency - CEIS
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