Sierra Nevada Corporation Spins Off Space Division Into New Subsidiary, Sierra Space
takyon writes:
Sierra Nevada Corporation to spin off space division
Sierra Nevada Corporation (SNC) will spin off its space division into a separate company, a move reflecting the "historic growth" it foresees for that business in the next several years.
In a message to employees April 14, SNC Chairwoman and President Eren Ozmen said the company's Space Systems division will become a standalone company, called Sierra Space, although remain a subsidiary of SNC.
Creating Sierra Space, she said, will enable the company to better capture expected growth in the space industry. SNC's space business currently generates $400 million in annual revenue, and she projected that increasing to $4 billion in 5 to 10 years. Privately-held SNC has traditionally disclosed few details about its revenue.
Sierra Nevada Corporation's Dream Chaser spaceplane is scheduled to deliver cargo to the ISS in 2022.
Previously: Sierra Nevada Corporation Gets Approval for its First ISS Commercial Resupply Services Mission
Sierra Nevada Corporation's Dream Chaser Spacecraft Could Spell Trouble for Northrop Grumman
Sierra Nevada Corporation Shows Off an Inflatable Habitat
Read more of this story at SoylentNews.