October 3, 1994 |
Loral Keeps Role In Air-Traffic Overhaul: The Federal Aviation Administration said Loral Corp. can maintain its lead contract, valued at about $1 billion, to upgrade the nation's air-traffic control network, provided both parties reach agreement on a new schedule and price. Loral's role was in danger because of cost overruns and delays on the program that mainly occurred while the contract was held by IBM's Federal Systems group, which Loral bought earlier this year.
July 30, 1992 |
Defense contractor Loral Corp. said Wednesday that it may consider moving its missile production from Newport Beach to one of two LTV Corp. plants in Texas or Arkansas. Loral Aeronutronic employs about 2,000 people in Newport Beach on land leased from Ford Motor Co. The rent on the land is due to increase dramatically in several years, so parent Loral Corp., based in New York, has said that it may relocate the plant.
September 1, 1992 |
Loral Corp. said Monday it has completed its acquisition of the missile operation of LTV Corp., setting the stage for a possible transfer of jobs from Orange County to Texas or Arkansas. For its share of a three-partner deal, Loral expects to pay LTV a total of $244 million for the missiles division of Dallas-based LTV, which is reorganizing under Chapter 11 bankruptcy protection. Loral's partners, the Carlyle Group in Washington and Northrop Corp.
January 9, 1996 |
The 1,100 managers, engineers, technicians and assemblers at Loral Aeronutronic here learned Monday that they will be working for their third employer in six years. The plant, which started life as a division of Ford Aerospace, will become part of Lockheed Martin Corp., which said Monday that it is acquiring most of Loral's operations. There was no word from either company about plans for the Orange County facility. "It is business as usual," said a Loral Corp.
October 21, 1992
Riding high on increased sales and greater profit margin, defense contractor Loral Corp. reported Tuesday that its net income rose to $40.6 million, or $1.05 a share, during the second quarter ended Sept. 30. This is 39% higher than the $29.1 million, or 93 cents a share, earned during the corresponding period last year. Loral, which recently acquired the missile operation of the bankrupt LTV Corp., said revenue rose to $738.9 million from $700 million a year ago.
September 4, 1990 |
By 1996, Loral Corp. will be paying $1-million-a-month rent for the 99-acre property where Ford Aerospace Corp.'s Newport Beach defense plant is located under a sublease with Ford. That rent might be stiff enough to inspire Loral, a New York-based defense contractor that is buying Ford Aerospace, to move the plant. Ford has been leasing the land on a long-term lease since 1958 at what were thought to be very low rates.