LORAL ACQUIRES MICROCOM CORPORATION FOR $7 MILLION.SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , Calif.--(BUSINESS WIRE)--April 12, 1995-- Loral Conic, a subsidiary of Loral Corporation Loral Corporation was a small Bronx defense contractor on the verge of bankruptcy when in 1972 it was acquired by Bernard Schwartz, who over the course of the next two decades built it into a major player in the global aerospace and defense industry, acquiring sixteen other defense (NYSE NYSESee: New York Stock Exchange :LOR LOR Letter Of Reprimand (military) LoR Lord of the Rings (J.R.R. Tolkien) LOR Learning Object Repository LOR Linux.Org. ), has acquired substantially all of the assets of Microcom Corporation, a telemetry telemetry Highly automated communications process by which data are collected from instruments located at remote or inaccessible points and transmitted to receiving equipment for measurement, monitoring, display, and recording. and communications products manufacturer, for $7 million in cash. Microcom Corporation, Warminster, Pa., designs and manufactures communications and telemetry components and systems for airborne applications used by the U.S. Department of Defense and the aerospace industry. The products are used principally for training and test and evaluation. They include dual frequency transponders and R3 components for range instrumentation, distributed data acquisition systems, and telemetry components and systems. Microcom Corporation's products complement Loral Conic's product lines and will give Loral the ability to offer a more complete selection of telemetry products. The acquisition of Microcom Corporation also will solidify Loral's position as a telemetry supplier to the Department of Defense. Microcom Corporation employs approximately 250 people at its facilities in Warminster and had sales in excess of $20 million in 1994. Loral Conic designs and manufactures airborne telemetry and range safety receivers; telemetry, video and command/control transmitters; satellite transponders/embedded encryption modules; telemetry systems and data links; video compression systems and range instrumentation transceivers. Loral Corporation, headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , is a high- technology company that primarily concentrates in defense electronics, communications, space and systems integration. CONTACT: Joseph Tedino, 703/416-5540 |
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