Company Overview
Highlights
Founded in 1948 and focused on defense electronic systems in the '80s as the Cold War escalated.
Barred from offering satellite services for two years, finally resuming business in March of 2006.
Loral bought Telesat Canada in Octobre 2007, making it the fourth largest fixed satellite services operator in the world.
The Loral Corporation was founded in 1948 by William Lorenz and Leon Alpert, who combined the first syllables of their last names to name the company. Having been involved in a number of different areas (toys, copper, and industrial meters), Loral turned its interests toward defense electronic systems in the '80s as the Cold War escalated. Today, the company operates in two business areas: fixed-satellite services, including satellite-based data networks, and satellite manufacturing and technology.
In July 2003, the company sold off a large part of its business to Intelsat and filed for Chapter 11 bankruptcy protection. Loral emerged from it in November 2005.
As part of the Intelsat deal, Loral was barred from offering satellite services for two years, and finally resumed business in March of 2006. In October 2007, Loral bought Telesat Canada. This acquisition made the company the fourth largest fixed satellite services operator in the world. Though the fleet of a dozen satellites is significantly smaller than those of its competitors, it provides Telesat with a strong enough presence in North American presence to make a notable impression on a global scale.