Article Posted on : - May 31, 2010

MOSCOW (BNS): An agreement has been signed between Russian Space Systems Corporation and the US Trimble Navigation Group to set up a joint satellite navigation venture in Russia.

The joint company �Rusnavgeoset� to be based in Moscow will produce Global Navigation Satellite System (GNSS) geodetic network infrastructure systems, RIA Novosti said.

"This high-technology, innovative sphere of activities directly contributes to the commercializing of GLONASS," a statement by Russian Space Systems said.

Russian Space Systems - the principal organisation of the Russian aerospace industry for navigation and geo-spatial technologies and the US Trimble Navigation Group - a leader on the US satellite navigation equipment market, will hold a 50% stake each.

Rusnavgeoset will be inaugurated at the GLONASS Forum in Moscow, Tuesday.

GLONASS - Global Navigation Satellite System � is the Russian equivalent of the US GPS (Global Positioning System), designed for both military and civilian use.