Rakon gets lift-off with new $17m space contract

Rakon gets lift-off with new $17m space contract
Rakon parts were onboard when the European Space Agency’s mission to observe Jupiter and its moons for signs of life launched in April. (Image: ESA/M. Pédoussaut)
Rebecca Stevenson
Listed advanced manufacturer Rakon has snagged a $17 million satellite parts supply contract.The New Zealand Exchange-listed (NZX) company said on Wednesday the three-year contract would supply its products to a global leader in communications satellites for a new Low Earth Orbit (LEO) satellite constellation. The new deal was its largest space contract win and would earn it $3m in revenue in 2025, Rakon said.After the announcement, Rakon shares were up 8.14% to 93 cents.Rakon makes frequency control products and timing solutions for...

More Markets

Vector agrees to sell LPG assets for $150m
Markets

Vector agrees to sell LPG assets for $150m

The deal is subject to regulatory approvals and commercial conditions.

Rebecca Howard 26 Jul 2024
ASX: Australian shares slide to a two-week low as tech drags
Markets

ASX: Australian shares slide to a two-week low as tech drags

Every sector of the Australian share market has lost ground.

AAP 26 Jul 2024
NZ sharemarket down 0.38%
Markets Market close

NZ sharemarket down 0.38%

The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.

Graham Skellern 26 Jul 2024
Forsyth Barr initiates full Turners coverage
Markets

Forsyth Barr initiates full Turners coverage

Forsyth Barr says a premium valuation is now warranted. 

Rebecca Howard 26 Jul 2024