SUNNYVALE, Calif. and MOSCOW, May 28 /PRNewswire-FirstCall/ -- Trimble (Nasdaq: TRMB) and Russian Space Systems announced today that they have signed a definitive agreement to form a joint venture in Russia.
The joint venture, Rusnavgeoset, will be officially launched at the GLONASS Forum in Moscow on June 1, 2010.
Rusnavgeoset, 50 percent owned by Trimble and 50 percent owned by Russian Space Systems, will be responsible for selling commercial Global Navigation Satellite System (GNSS) geodetic network infrastructure systems localized for Russia and the Commonwealth of Independent States (CIS).
Rusnavgeoset will be based in Moscow. Operations will begin following the completion of the joint venture's registration, which is expected to be in June 2010.
About Russian Space Systems
Russian Space Systems is a Joint Stock Company (JSC: RSS). RSS is the leading company in the field of designing, developing, manufacturing, implementing, maintaining and supporting space information systems in the Russian Federation. RSS is the principal organization of the Russian aerospace industry for navigation and geo-spatial technologies. These include: the development, upgrade and use including functional augmentations, user equipment and ground control complex for the GLONASS system; the Russian Federation's unified System of Navigation/Timing Support; the State Unified TT&C Ground Complex for Spacecraft and on test ranges' control complexes; the development and realization of basic key technologies for navigation, control, monitoring and Earth remote sensing; systems for receiving, processing and distribution of Earth remote sensing data; federal, branch and regional systems for monitoring critically important objects and hazardous cargos. For more information, visit: www.rniikp.ru.
Trimble applies technology to make field and mobile workers in businesses and government significantly more productive. Solutions are focused on applications requiring position or location--including surveying, construction, agriculture, fleet and asset management, public safety and mapping. In addition to utilizing positioning technologies such as GPS, lasers and optics, Trimble solutions may include software content specific to the needs of the user. Wireless technologies are utilized to deliver the solution to the user and to ensure a tight coupling of the field and the back office. Founded in 1978, Trimble is headquartered in Sunnyvale, Calif.
For more information visit Trimble's Web site at www.trimble.com.
This press release contains forward-looking statements within the meaning of U.S. federal securities laws that involve known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied in this press release. Factors that could cause or contribute to such differences include, but are not limited to, the timing for completing the joint venture's registration and launch of operations, and the availability of localized systems for the Russian and CIS markets. More information about potential factors that could affect Trimble's business and financial results is set forth in reports filed with the U.S. Securities and Exchange Commission, including Trimble's quarterly reports on Form 10-Q and its annual report on Form 10-K. Trimble assumes no obligation to update any forward-looking statement contained in this press release.