Sea Launch in deal with AsiaSat

California-based Sea Launch Co. says it has an agreement to launch a commercial satellite for Asia Satellite Telecommunications Co.

Terms of the deal announced Monday have not been released.

The launch will be conducted between 2012 and 2014 from Sea Launch's oceangoing rocket platform, which travels from the Port of Long Beach to a position in the equatorial Pacific.

AsiaSat's current fleet of three satellites provides services to the broadcast and telecommunications industries.

Sea Launch also says it is moving toward exiting Chapter 11 bankruptcy protection. A U.S. Bankruptcy Court hearing on its reorganization plan is scheduled for July 27.

Copyright 2010 The Associated Press.

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