OHB Shares Rise After 554 Million Euro Satellite Contract Win
Dow Jones11-04 21:02
Shares in German satellite maker OHB jumped after the company said it received a contract from the European Space Agency valued at 554 million euros ($620 million) to develop a satellite as part of the agency's Copernicus program.
The contract includes the option for a second satellite, OHB said Wednesday. The company will develop the satellite as part of a consortium.
Shares traded 5.7% higher at 223.50 euros in European afternoon trade.
The satellite is part of the European Union's Copernicus program, which provides data and information on the state of the Earth, atmosphere and oceans.
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