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ORBITEC Forms Of Five Strategic Business Units
Madison WI (SPX) Dec 02, 2008 Orbital Technologies has announced that its Board of Directors has approved a plan to issue new common stock to accredited investors for selected near-term growth opportunities from its product and technology portfolio. In this connection, ORBITEC has formed five strategic business units with specific technical and financial objectives to enable further investment and enhancements to the company's suite of solutions and capabilities. The new organizational structure will ensure a strong customer focus as each strategic business unit brings its suite of competitive solutions to market with dedicated leadership. Tom Crabb, President and CFO, comments: "This will allow us to invest strategically over time in our people and in capabilities that will enhance solutions for the benefit for all ORBITEC customers. It marks a new era for ORBITEC and I am pleased to see five strong business units inside our company ready to take the lead and build on two decades of R and D and successful customer retention." Going forward, ORBITEC will consist of the following five separate and autonomous strategic business units: + Propulsion, Space Resources, and Energy Systems -next generation propulsion systems and advanced resource and energy utilization for civil and military space applications + Human Support Systems -life support, environmental controls, air and water recovery, and instrumented science systems for commercial and space applications + Emergency Response Systems - breakthrough efficiency in mobile attacks on fire and contamination sources for civilian and military applications + BioProducts and BioProduction Systems - structural fiber, pharmaceutical, and industrial protein products from plants; and highly productive and controlled bioproduction systems + Interactive 3D Training Systems and Services - tools and content for web visualization, portable and web-based training and operations support in the field, and interactive architectural and urban planning guides and support According to Crabb, "This has been in the works for more than a year to focus the results of our developments further into available products, working with strategic partners wherever possible. The near-term growth expected is huge relative to the initial capital needed for the launch of these areas. There will be focused investment offerings in these areas as we spin select products and services out of ORBITEC." ORBITEC has retained NORROC Partners LLC, based in San Francisco, California, as strategic and financial advisors for ORBITEC's planned stock issuance and growth initiatives. ORBITEC also has retained Quarles and Brady and Grant Thornton for legal and accounting services related to this offering. Related Links Orbital Technologies The latest information about the Commercial Satellite Industry
SES ASTRA To Broadcast MTVNHD In France
Betzdorf, Luxembourg (SPX) Dec 02, 2008SES ASTRA has announced the signature of a long term contract for the broadcast of MTVNHD, MTV Networks High Definition, in France. MTVNHD is the first international high definition service dedicated to music and children in France. |
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