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[b]Virgin Galactic Acquires Full Ownership of The Spaceship Company[/b]
Virgin Galactic, the world's first commercial spaceline, today (Oct. 5) announced that it has taken 100% ownership of its sister company, The Spaceship Company (TSC), by acquiring the 30% stake held by Scaled Composites (Scaled) since TSC's formation under a joint venture with Virgin Galactic.
This acquisition, details of which are not being disclosed, marks the successful completion of a long-term strategy and signifies the end of the first phase of TSC's development. During this development phase, TSC completed the build out of manufacturing and assembly facilities in Mojave, CA, established a specialized workforce and transitioned necessary assets from Scaled in order to begin building Virgin Galactic's commercial fleet of WhiteKnightTwo (WK2) carrier aircraft and SpaceShipTwo (SS2) manned sub-orbital spacecraft. These vehicles will be utilized for Virgin Galactic's planned spaceline operations which will be based at Spaceport America in southern New Mexico.
The completion of the acquisition comes as Virgin Galactic and Scaled begin to plan the handover of the SS2 development program to Virgin Galactic, with Scaled remaining fully committed to the final portion of the WK2 and SS2 test flight programs prior to Virgin Galactic commencing commercial operations.
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