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Loral Data Systems
Loral Corporation was a defense contractor founded in 1948 in New York City, New York by William Lorenz and Leon Alpert as Loral Electronics Corporation. The company's name was taken from the first letters of each founder's surname. History Loral Corporation originally developed radar and sonar systems for the US Navy. In 1959 it went public with an initial offering of 250,000 shares at $12 each. Part of the proceeds from this offering were used to build a new headquarters on its site at 825 Bronx River Avenue, in the Soundview, Bronx, Soundview section of The Bronx, New York. In 1959 it began to diversify, buying several smaller companies, through which it won more military contracts. Some purchased companies included Willor Manufacturing Corp., American Beryllium Co., Inc., of Sarasota, Florida, Arco Electronics, and several plastics companies. In 1961, it formed a division for developing communications, telemetry, and space navigation systems for satellites. As its ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loral Space & Communications
Loral Space & Communications Inc. is a Delaware-domiciled satellite communications company headed by Michael B. Targoff. The company was formed in 1996 from the remnants of Loral Corporation when Loral divested its defense electronics and system integration businesses to Lockheed Martin for $9.1 billion. In 2006, Bernard L. Schwartz retired after leading the company for 34 years. Loral presently has an investment in Telesat Canada in partnership with the Public Sector Pension Investment Board of Canada, and merged into a new stock offering (TSAT) on the Nasdaq in November, 2020. The company also participates in a number of international and domestic joint ventures, including an ownership stake in XTAR. History On March 20, 1998, Loral completed the acquisition of Orion Network Systems, Inc., through the exchange of common stock. The transaction was valued at approximately $479 million. In January 2002, Loral reached a settlement with the U.S. Government in a case relating ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |