To: Valueman who wrote (2036 ) 2/24/1998 1:17:00 PM From: Nilda Ovalles Respond to of 10852
You all probably know this, but I'll post it anyway: The Spar Aerospace's investment was made back in 1997. Attention Business Editors: SPAR INVESTMENT IN SKYBRIDGE SATELLITE CONSTELLATION UNDERSCORES COMMITMENT TO NEW PRODUCT STRATEGY TORONTO, Nov. 12 /CNW/ - Spar Aerospace Limited announced today that it has made a significant investment in SkyBridge(TM), the new 64-satellite low earth orbit multimedia constellation. ''This strategic investment positions our Ste-Anne-de-Bellevue, Quebec, satellite division to supply satellite sub-systems to SkyBridge(TM)'s 64 satellites and will allow Spar to share in future SkyBridge(TM) incomes,'' said David Masotti, President, Spar Space Systems. ''It demonstrates our commitment to our satellite product strategy and our confidence in the long term potential of this business.'' SkyBridge(TM) will provide global connectivity to business and residential users through such real-time, highly interactive services as high-speed Internet access, telecommuting, videoconferencing and interactive entertainment services. With downlink speeds of 60Mbps and uplink speeds of 2Mbps, it will offer performance similar to future terrestrial broadband technologies. The SkyBridge(TM) venture is being led by global telecommunications giant Alcatel Alsthom with Loral Space & Communications Corporation and Toshiba Corporation as existing partners. Spar is joined by four other major corporations in investing in SkyBridge at this time: Aerospatiale (France), Mitsubishi Electric Corporation (Japan), Sharp Corporation (Japan) and the Soci‚t‚ R‚gionale d'Investissements de Wallonie (Belgium). SkyBridge(TM) will begin providing services in 2001. They will be delivered locally through local telecommunications operators and service providers. Spar is a leading Canadian advanced technology company with businesses in the space, communications, aviation services, and software industries. Operations are located in North America, Europe and the Pacific Rim, and nearly 70% of revenues are derived outside Canada. It is listed on the Toronto and Montreal stock exchanges. Stock symbol: SPZ. Website address: www.spar.ca. -30- For further information: Deborah Allan, (416) 682-7619, dallan@spar.ca SPAR AEROSPACE LIMITED has 68 releases in this database.