& communications type public traded as nasdaq lorl industry communications space manufacturing founded 1996 headquarters 600 third avenue new york city new york key people michael b. targoff ceo harvey rein senior vice president cfo products communications satellite manufacturing satellite services revenue 882m usd fy 2007 number of employees 3 100 1 website www.loral.com loral space & communications inc. is a satellite communications company headed by michael b. targoff and incorporated in delaware . 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 many years . loral presently has an investment in telesat canada in partnership with the public sector pension investment board of canada . the company also participates in a number of international and domestic joint ventures including an ownership stake in xtar . history edit 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 . 2 in january 2002 loral reached a settlement with the u.s. government in a case relating to the company s involvement in the disclosure of information during a review of a chinese rocket launch failure in 1996 . 3 loral agreed to pay a civil fine of 14 million to the state department without admitting or denying the government s charges . 4 according to a house select committee loral under ceo schwartz provided the chinese government with advice regarding a guidance system for future prc road mobile intercontinental ballistic missiles . 5 the defense technology security administration concluded loral committed a serious export control violation and that the significant benefits derived by china from these activities are likely to lead to improvements in the overall reliability of their launch vehicles i.e. rockets and ballistic missiles and in particular their guidance systems . 6 loral paid a total fine of 20 million the largest that a company has ever paid under the arms export control act . 7 on july 15 2003 loral and certain subsidiaries filed voluntary petitions under chapter 11 of the united states bankruptcy code . in conjunction with the filing loral announced the sale of its north american satellite fleet to intelsat to help reduce its debt . loral emerged from chapter 11 on november 21 2005 . on feb 1 2006 a subsidiary of loral space & communications loral skynet began the construction of telstar 11n a powerful new multi region ku band communications satellite . 8 on october 5 2007 loral space & communications inc. and the public pension investment board of canada received the final regulatory approval necessary to complete the acquisition of telesat from bce inc. for cad 3.25 billion . the acquisition closed on october 31 2007 . loral hold a 64 % economic interest and a 331 3 % voting interest in telesat holdco the ultimate parent company of the resulting new entity . at the same time telesat canada merged with loral skynet a subsidiary of loral space & communications . this resulted in the transfer of all of the assets of loral skynet to telesat . on november 2 2012 loral space & communications inc. announced the sale of subsidiary space systems loral ss l to macdonald dettwiler . 9 references edit http www.mercurynews.com business ci 19291336 satellite business taking off in palo alto san jose mercury news november 8 2011 . loral completes acquisition of orion network systems . mar 20 1998 . http www.loralpresscenter.com inthenews 020109.html loral and us government settle chinese launch matter loral news release january 9 2002 . http www.loralpresscenter.com inthenews 020109.html loral and us government settle chinese launch matter loral news release january 9 2002 . http www.house.gov coxreport chapfs app.html http www.house.gov coxreport chapfs ch6.html http www.militaryaerospace.com articles print volume 13 issue 4 departments cots watch loral arms technology exports lead to 20 million government fine.html construction of loral skynet s telstar 11n satellite begins at space systems loral . feb 1 2006 . http www.ssloral.com html pressreleases pr20121102.html loral closes sale of space systems loral to mda loral news release november 2 2012 . external links edit loral space & communication official website space systems loral ss l loral space & communications at answers.com yahoo loral space & communications inc. company profile v t e telecommunications history beacon broadcasting cable tv communications satellite computer network drums electrical telegraph fax heliographs hydraulic telegraph internet mass media mobile phone optical telecommunication optical telegraphy photophone prepaid mobile phone radio radiotelephone satellite communications semaphore smartphone smoke signals telecommunications history telautograph telegraphy teleprinter teletype telephone the telephone cases television timeline of communication technology undersea telegraph line videoconferencing videophone videotelephony pioneers edwin howard armstrong john logie baird paul baran alexander graham bell tim berners lee jagadish chandra bose vint cerf claude chappe donald davies lee de forest philo farnsworth reginald fessenden elisha gray innocenzo manzetti guglielmo marconi antonio meucci alexander stepanovich popov johann philipp reis nikola tesla camille tissot alfred vail charles wheatstone vladimir k. zworykin transmission media electromagnetic radiation electrical cable free space optical communication molecular communication optical fiber network topology and switching links nodes terminal node network switching circuit packet telephone exchange multiplexing space division frequency division time division polarization division orbital angular momentum code division networks arpanet bitnet cellular network computer cyclades ethernet fidonet internet isdn lan mobile ngn npl network public switched telephone radio telecommunications equipment television telex wan wireless world wide web category portal retrieved from https en.wikipedia.org w index.php title loral space % 26 communications & oldid 689887123 categories aerospace companies of the united statescompanies established in 1996companies based in new york cityloral space & communicationscompanies that filed for chapter 11 bankruptcy in 2005 navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a 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