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SNC to spin off space business
Posted: Sun, Apr 18, 2021, 11:30 AM ET (1530 GMT)
Sierra Nevada Corporation (SNC) plans to spin off its space division into an independent business. The company said its Space Systems division will be transformed into a separate company, Sierra Space, although remaining a subsidiary of SNC. The company explained the move as a way of better capturing projected growth in the space industry, including applications for its Dream Chaser spaceplane and an inflatable habitation module called LIFE. SNC said revenues from its space business, currently $400 million a year, could grow to as much as $4 billion in 5 to 10 years. The company said details about the creation of Sierra Space have yet to be worked out, but that the process will take several months to complete.
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