Ibadan, 22 May 2023. – Terran Orbital Corporation and W. P. Carey have broke ground on a 94,000-square-foot satellite manufacturing facility at 4 Goodyear in Irvine, California. In partnership with Terran Orbital, W. P. Carey will redevelop one of its outdated office properties into a new Class A industrial facility. As a result, it will serve as the Company’s fifth production facility. Demolition of the existing building commenced in February 2023, and the project will tentatively end in January 2024.
The facility will be on a five-acre site and, upon completion, will increase Terran Orbital’s satellite assembly, integration, and test facility space by over three times the Company’s current size. Furthermore, the Company will transition all its satellite assembly processes to this new facility to enable the dedication of Terran Orbital’s existing facilities to the production of components and modules. As a result, this optimization will enhance the efficiency and capacity of Terran Orbital’s entire production system.
“Terran Orbital is happy to break ground on 4 Goodyear,” said its Co-Founder, Chairman, and Chief Executive Officer Marc Bell. “The new facility will propel Terran Orbital to new heights. We are currently working on 30 programs and over 375 satellites, including initial constellation orders for SDA, Rivada, and a new constellation customer announced on May 15.”
The CEO also added, “We also look forward to the capacity increase the new facility will create as we continue to onboard contracts and satellite orders. W. P. Carey has been a joy to work with, and we look forward to developing this new facility together.”