At one point, the Canadian space budget was projected to be only C$100 million by 2000, one-fifth of its 1995 level. Spar Aerospace acquired by L-3 Communications, Name of the organization that made the acquisition, Descriptive keyword for an Organization (e.g.
The MSat program began in the mid-1980s and cost US$500 million. Colin D. Watson became president and CEO of Spar in 1996. The vision, sensory, and 'expert' systems of the new 'smart arms' allowed them to perform many complex and delicate tasks virtually unaided by manual input. Aircraft equipment repair and overhaul was the company's largest product segment, accounting for C$2 million of its sales. Spar had 300 employees at the time. Delaney Capital Management Ltd. gained control of the Spar board through its 58 percent share ownership. For faster navigation, this Iframe is preloading the Wikiwand page for, Note: preferences and languages are saved separately in https mode. Watson became vice-chairman to board chairman Eric Rosenfeld.
It was the Canadarm that was used to perform repairs on the Hubble space telescope in 1993.
Spar Aerospace is a provider of high-end aviation support services. As consumers, we often take for granted all the hard work that goes into building a great company. TORONTO---Spar Aerospace Limited today announced that it has entered into a support agreement with L-3 Communications Corporation whereby L-3 Communications will make an offer to acquire all of the fully-diluted common shares of Spar at C$15.50 cash per Spar common share, being in the aggregate approximately C$230 million. He arrived just in time to announce the surprise loss in the first quarter that caused Spar's share price to fall another 50 percent.
However, in July, 14 insurance companies sued Spar for US$135 million, alleging that the company's satellite communications system caused a Lockheed Martin satellite launched in 1995 to fail. Emblazoned with a maple leaf, the Canadarm caught the world's attention when it began operations on the second flight of the space shuttle Columbia.
Spar made the systems on the new arms modular so that components could be replaced as technology advanced over their expected 30-year service life. The program fostered more than national pride: by the 1990s it was bringing in C$20 million a year for maintenance support.
Aviation Services accounted for C$14.4 million of profits and C$123.1 million of sales in 1998.
Spar Aerospace Limited is perhaps better known for what it once was than what it is.
Although dependent upon the ups and downs of government procurement, at least Spar was not devoted exclusively to military programs at the end of the Cold War.
Its first full year in operation as an independent company brought sales of C$5.1 million.
SPAR Aerospace invented, built, and tested the Canadarm in Canada, because it's a Canadian company.
The company also produced flight data recorders and communications equipment for military clients, for whom it continued to provide maintenance. Space-related work accounted for 82 percent of the company's revenues; aviation and defense, 13 percent.
{{::mainImage.info.license.name || 'Unknown'}}, {{current.info.license.usageTerms || current.info.license.name || current.info.license.detected || 'Unknown'}}, Uploaded by: {{current.info.uploadUser}} on {{current.info.uploadDate | date:'mediumDate'}}. Com Dev, Inc., a C$60 million microwave component specialist, unsuccessfully bid against Spar to build the MSat, a Canadian mobile communications satellite. Divestitures have pared Spar down to its Aviation Services division.
In the face of competition from much larger manufacturers, Spar refocused its production from complete satellites to components such as antennae. We see them around but we don't know what goes on behind the scenes.
One of 1998's highlights came when the Canadarm completed its 50th mission in space aboard the space shuttle Columbia. Source: International Directory of Company Histories, Vol. Although sales reached C$9.8 million in 1970, the company still posted a loss, of C$371,000.
Management bought the company in 1967 and took it public the next year. Give good old Wikipedia a great new look: Cover photo is available under {{::mainImage.info.license.name || 'Unknown'}} license. The company provides a vast array of services including comprehensive technical publications support and engineering services.
Not surprisingly, it sought to attract more civilian clients to this division. Spar worked on bringing its robot arm expertise to land-based applications. The year 1969, which saw the first human step onto the surface of the moon, ironically brought Spar serious setbacks.
The first, MSat-1, was launched on April 20, 1996. The Canadian Commercial Corp., a government agency, made the award.
Watson had sought to make Spar a C$1 billion company by 2000, but the problem of profits prevented that.
Another advanced research project involved American Mobile Satellite Corp., Hughes Aircraft Corp., Spar Aerospace, and Telecast Mobile, another Canadian firm, which worked to produce two MSats, or mobile satellites. Spar Aerospace is a global provider of turnkey aviation life cycle management services, providing value-added engineering and upgrades for selected military and commercial aviation programs, component repair and overhaul and support services. In the spring of 1999, it also agreed to sell its robotics division, which would leave it with aviation services. In late 1992, it bought ComStream Corp., a US$30 million San Diego digital communications company, for US$58 million. learn how over 7,000 companies got started! Follow-up work had brought in C$200 million already. Such milestones were bittersweet.
Spar settled this case in July 1999 for US$15 million. Would you like to suggest this photo as the cover photo for this article? SED Systems, MDA, IMP, CAE Electronics, and CAL Corp., all Canadian firms, were on board as subcontractors. Spar felt the ground operator deserved some of the blame. In the 1950s and 1960s, the Special Products and Applied Research division of de Havilland Aircraft of Canada Limited developed missile components and other advanced aerospace products. Government support for the 'Canada Hand'--$170 million worth--gave Spar some much-needed good news in the spring of 1997. SaaS, Android, Cloud Computing, Medical Device), Operating Status of Organization e.g.
Finally, we can read about how these great companies came about with Company Histories.. The company manufactured Olympus-1 (or L-Sat) satellites in collaboration with Fokker.
After attempts to sell or revive the company through new CEOs and workforce reductions, Spar arranged to sell the unit to Radyne Corp. for US$17 million in cash and promissory notes in August 1998. The Satellite Products Unit was then sold to Electromagnetic Sciences Inc. for C$29.5 million. In the mid-1980s, Spar built communications satellites for Hughes Aircraft and Telesat Canada (the Anik-E). 32. Spar developed the Canadarm robotic control arm in the late 1970s. Com Dev, MacDonald Dettwiler and Associates (MDA), and Spar did cooperate in the Radarsat International joint venture, formed to market data from the world's most advanced radar satellite.
The program by that time represented C$500 million in exports. Acquired by L3 Technologies on October 03, 2001 Founded: January 01, 1942
The arm's maintenance and support requirements brought in C$20 million a year. Index of /spar Name Last modified Size Description : Parent Directory - ap.htm: 2009-02-24 03:57 : 11K Spar owned an 11 percent interest in MDA and planned to buy the remainder for about C$50 million; however, these negotiations broke off abruptly in July 1992. Spar gave the first one to NASA in 1981. MacDonald, Dettwiler and Associates, Ltd. (MDA) bought Spar's robotics business for C$63 million. Spar, however, was precariously dependent on these 'golden chains': its government contracts amounted to C$275 million in 1991.
Spar Aerospace is a global provider of turnkey aviation life cycle management services, providing value-added engineering and upgrades for selected military and commercial aviation programs, component repair and overhaul and support services. The system used satellites instead of towers to relay signals.
The Nixon administration cut back sharply on military aerospace programs, and Spar's takeover of Levy Industries Limited's York Gears Division produced complications in the form of difficult-to-collect receivables and unprofitable, unfulfilled contracts. Spar soon added X-ray equipment, battery chargers, and urethane structures to its product line. The Asian financial crisis extinguished enthusiasm in one of Spar's hottest markets. Copyright (c) 2019 Company-Histories.com.
Spar Aerospace Limited is perhaps better known for what it once was than what it is. Get the top SPAR abbreviation related to Aerospace Engineering.
SPAR Aerospace was a Canadian aerospace company. It had also teamed with the giant Canadian telephone company Satellite Telecommunications Laboratory in a research venture. Spar sold Astro Aerospace Corporation to TRW Inc. for C$30.6 million in December 1998.
Half of its revenues came from space communications hardware. Many of Spar's high-profile businesses were sold after the ownership shift. As impressive as the Canadarm was, the next generation of robot arms in development eclipsed it handily. Space Robotics had profits of C$16.9 million on sales of C$128 million.
Spar supplied the antennae and transponder. WhatsApp acquired by Facebook). Your input will affect cover photo selection, along with input from other users.
Japanese and Italian firms also tapped Spar for its robotic expertise in preparing their countries' respective ISS components. Spar lost C$556,000 on sales of C$7.2 million for the year. An October launch of the space shuttle Columbia, manned by Canadian astronaut Steve MacLean, also displayed the new Space Vision System, a joint project of Spar and the National Research Council. In 1996 Spar won a C$30 million contract to supply the International Space Station with two robotic workstations for the Mobile Servicing System (MSS). An investment group led by New York-based Crescendo Partners LP, IMP Group Ltd. of Nova Scotia, and Toronto's C.A.
The Space Station Remote Manipulator System's Special Purpose Dexterous Manipulator was designed to replace space-walking astronauts for many tasks.
Communications and space programs accounted for slightly more than 40 percent each of Spar's revenues in 1995, while the Aviation and Defense unit added another 13 percent. Its share price fell 25 percent and its dividend was eliminated.
For example, ComStream went for months without a CEO in 1995 and 1996.
ComStream posted a profit of C$10.5 million on revenues of C$250.7 million in 1995.
In addition, its Sun Microsystem computer network linked the four firms throughout design, testing, and manufacturing.
It also won contracts to maintain Sea King helicopters for the armed forces of the United States, Brazil, Malaysia, and others.
What does SPAR stand for in Aerospace Engineering?
The board also continued to entertain offers to buy the remainder of the company. Active, Closed, Whether an Organization is for profit or non-profit, Auto-generated name of transaction (e.g. When Watson took over at Spar, many of ComStream's technical staff were demoralized that the company had not followed through with a promised initial public offering for the unit. Watson had previously led the cable television operations of Rogers Communications Inc.
You can help our automatic cover photo selection by reporting an unsuitable photo. In these years that were so difficult for the industry in general, Spar did find some success in supplying satellite components for the Hughes Aircraft Co. and, through its York Gears subsidiary, gears for the Bell Helicopter Company. It soon had most of the company's C$150 million cash paid out in dividends, forsaking any acquisition plans. It sold off its applied systems business. After losing C$34 million in 1997, Spar posted a C$31 million profit on sales of C$251 million in 1998.
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