A SCISYS Board note on ‘Brexit’ - 19 Apr 2017
Articles in the British press last week reported the possible stance being considered by the EU towards the award of contracts for the latest phase of work on the EU's Galileo satellite navigation system and speculating what impact this may have on the UK space industry. Since the beginning of the programme, SCISYS has won and delivered key software systems for Galileo through its British and German subsidiaries, both independently and in collaboration. Building on this proven track record, SCISYS will continue to leverage its expertise and capabilities in both geographies.
SCISYS is confident that Brexit will not impact our revenues from Galileo because its geographical footprint will enable existing business to remain within the Group through its ability to bid for work through either its UK or German offices.
SCISYS believes that Galileo is strategically important not only to the EU but also the UK. This explains why the UK government invested heavily in Galileo and British industry continues to play a significant role in its development as a result. In consequence, SCISYS believes that a pragmatic solution will be ultimately found for Galileo that benefits all parties.
Further to this, SCISYS is excited by the opportunities created by the UK Space Agency’s initiatives in areas such as spaceflight from British shores and the promotion of downstream satellite applications. Finally, the contract signed last year between our UK subsidiary and OneWeb, a global satellite communications service provider that is building the world's largest satellite constellation, demonstrates our ability to win new export work in the global market.
In summary, SCISYS remains confident and optimistic about retaining its position within the Galileo programme and the new growth opportunities within the space sector that will benefit the Group as a whole and our UK and German subsidiaries.