Robotics to assume lead R&D focus at re-vamped Spar aerospace as it exits from satellite communications sector

From: Research Money | Date: January 20, 1999| Author: | Copyright information

Spar Aerospace Ltd is selling its satellite products unit to a US-based firm as part of a dramatic restructuring to focus future efforts and accumulated cash on robotics and aviation maintenance. The sale is just the latest in a series of divestments made throughout 1998 that marks the Toronto-based aerospace firm's exit from the satellite communications sector. When the agreement with Electromagnetic Sciences Inc (EMS), Norcross GA, closes later this month, Spar will pocket $10 million in cash, $5 million in cash or EMS stock and $15 million in convertible notes, swelling its liquid cash ...

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