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Loral Space and its owner Bernie Schwartz sold China technology that allowed them to increase the throw weight, range and accuracy of their missiles in violation of the Arms Export Control Act or the International Traffic in Arms Regulations.

Loral laid to rest the allegations against it by agreeing with the State Department to pay a $14 million fine and to spend $6 million on internal reforms dedicated to stopping overseas technology transfer.


HISTORY

  • 1987 . Loral acquires Goodyear Aerospace Corporation , which becomes Loral Defense Systems.

  • October 1990 . Loral acquires Ford Aerospace , the divisions of which become Space Systems/Loral and Loral Western Development Labs.

  • 1991 . With Qualcomm , Loral begins the Globalstar project, and at the peak owns a 42% share in the company.

  • 1994 . Loral acquires IBM 's Federal Systems Division, which becomes Loral Federal Systems.

  • May 5 , 1995 . Loral acquires ''Paramax'', the defense unit of Unisys , for $862m in cash.

  • January 8 , 1996 . Lockheed Martin acquires the defense electronics and system integration businesses of Loral for $9.1 billion. Loral becomes Loral Space & Communications.

  • In January 2002 '', Jan. 1 , 2003



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