Terran Orbital Breaks Ground on New State-of-the-Art Satellite Manufacturing Facility
94,000-square-foot facility developed by W. P. Carey will help fast-growing satellite manufacturer bolster production capacity
From left to right: Scott Voigts, District Director for Chairman Donald Wagner,
The facility will be located on a five-acre site and upon completion will increase Terran Orbital’s satellite assembly, integration, and test facility space by over three times the Company’s current size. All satellite assembly will be transitioned to this new facility enabling the dedication of Terran Orbital’s existing facilities to the production of components and modules. This optimization will enhance the efficiency and capacity of Terran Orbital’s entire production system.
The property will have 36-foot clear heights and will be built with several sustainable features, including solar panels on the rooftop and electric vehicle charging stations. It is also expected to receive a LEED Gold certification.
“Terran Orbital is thrilled to break ground on 4 Goodyear,” said Terran Orbital Co-Founder, Chairman, and Chief Executive Officer Marc Bell. “The new facility will propel Terran Orbital to new heights. We are currently working on 30 programs and over 375 satellites, including initial constellation orders for SDA, Rivada, and a new constellation customer announced on May 15. We also look forward to the capacity increase the new facility will create as we continue to onboard contracts and satellite orders. W. P. Carey has been a joy to work with and we look forward to developing this new facility together.”
Nicolas Isham, Managing Director, W. P. Carey added, “We are thrilled to leverage our development capabilities to redevelop an outdated office asset and construct a new, state-of-the-art industrial facility for Terran Orbital, a global leader in satellite-based solutions. In addition to bolstering Terran Orbital’s satellite production capacity and bringing jobs to the
About Terran Orbital
Terran Orbital is a leading manufacturer of satellite products primarily serving the aerospace and defense industries. Terran Orbital provides end-to-end satellite solutions by combining satellite design, production, launch planning, mission operations, and on-orbit support to meet the needs of the most demanding military, civil, and commercial customers. Learn more at www.terranorbital.com.
About W. P. Carey Inc.
Celebrating its 50th anniversary, W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately
Forward-Looking Statements
This press release contains “forward-looking statements” for purposes of the federal securities laws. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. All statements, other than statements of present or historical facts, contained in this press release, regarding our future operations, our ability to execute and the expectations, plans and objectives of management are forward-looking statements. Forward-looking statements are typically identified by such words as “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook, “estimate,” “will,” “should,” “would” and “could” and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements involve a number of risks, uncertainties (many of which are beyond our control), or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by the forward-looking statements contained in this press release, including, but not limited to: our ability to scale-up our manufacturing processes and facilities; our ability to finance our operations, research and development activities and capital expenditures; the ability to implement business plans, forecasts, and other expectations, and to identify and realize additional opportunities; anticipated timing, cost, financing and development of our satellite manufacturing capabilities; prospective performance and commercial opportunities and competitors; our expansion plans and opportunities; our ability to finance and invest in growth initiatives; the possibility that the COVID-19 pandemic, or another major disease, natural disaster, or threat to the physical security of our facilities or employees disrupts our business; supply chain disruptions, including delays, increased costs and supplier quality control challenges; and the other risks disclosed in our filings with the Securities and Exchange Commission (the “SEC”) from time to time, including in “Part I, Item 1A. Risk Factors” of our most recent Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the SEC on March 23, 2023.
These forward-looking statements are based on management’s current expectations, plans, forecasts, assumptions, and beliefs concerning future developments and their potential effects. There can be no assurance that the future developments affecting us will be those that we have anticipated, and we may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. New risk factors and uncertainties may emerge from time to time, and it is not possible to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make.
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Source: Terran Orbital
