EU issues Galileo contracts
The European Commission awarded more than €1 billion worth of contracts on Jan. 7 to set up its Galileo satellite navigation system, Europe's effort to compete with the U.S. Global Positioning System, or GPS.
German company OHB-System AG received about half the amount -- €566 million -- to build the first 14 satellites, the commission said in a statement. The system is expected to require no more than 32 satellites.