Virgin Galactic Get Full Ownership of Space Vehicle BuilderMonday, October 8, 2012
Virgin Galactic bought out its partner in The Spaceship Company, the Mojave-based development and manufacturing firm that is building the sub-orbital space vehicles Virgin Galactic will fly into space.
The terms of the deal between Virgin Galactic and Scaled Composites for the acquisition if Scaled’s 30 percent stake in The Spaceship Company were not disclosed.
The Spaceship Company was founded in 2005 as a joint venture by Scaled Composites and Virgin Galactic for the production of the SpaceShipTwo space vehicle and its carrier aircraft, WhiteKnightTwo.
The acquisition signals the completion of the first phase of development of The Spaceship Company of building out the manufacturing and assembly facilities in Mojave, according to a release from Virgin Galactic.
Scaled Composites will hand over the SpaceShipTwo development program to Virgin Galactic but will continue to participate in test flight operations, according to the release.
Scaled Composites, founded in 1982 by noted aviation and aerospace pioneer Burt Rutan, and is owned by a subsidiary of Northrop Grumman Corp.
Mark R. Madler