Boeing and SPACEHAB, Inc. Agree to Pursue Teaming Opportunities On International Space Station Program.VIENNA, Va.--(BUSINESS WIRE)--Dec. 9, 1998--SPACEHAB, Inc. (Nasdaq:SPAB SPAB Society for the Protection of Ancient Buildings (UK) SPAB School Pupil Activity Bus SPAB Supply Priorities and Allocations Board SPAB Security Policy Advisory Board SPAB Society for the Preservation of Adolescent Behavior ) and The Boeing Company today announced the two companies have signed a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. to jointly outline specific areas of cooperation for commercial operations and utilization services for the International Space Station (ISS ISS See Institutional Shareholder Services (ISS). ). Under the terms of the agreement, SPACEHAB will work with Boeing to define potential ISS commercialization initiatives including but not limited to cargo processing, station enhancements and services. SPACEHAB Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Shelley A. Harrison praised the agreement: "The combined application of the resources, expertise and business approaches of Boeing and SPACEHAB will be mutually beneficial and provide cost savings and increased flexibility to our customers, especially NASA NASA: see National Aeronautics and Space Administration. NASA in full National Aeronautics and Space Administration Independent U.S. ." Boeing is NASA's International Space Station prime contractor and directs an industry team comprising most major US aerospace companies and hundreds of smaller subcontractors. Boeing is responsible for design, development, integration, testing and delivery of the US-built elements. SPACEHAB, with its Johnson Engineering and Astrotech subsidiaries, is the world's leading provider of commercial payload processing services for manned and unmanned payloads. SPACEHAB is the first company to commercially develop, own and operate habitable habitable adj. referring to a residence that is safe and can be occupied in reasonable comfort. Although standards vary by region, the premises should be closed in against the weather, provide running water, access to decent toilets and bathing facilities, heating, modules that provide laboratory facilities and logistics re-supply aboard NASA's Space Shuttles. The Company also supports NASA astronaut training at Johnson Space Center, Houston. |
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