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Business briefs: March 11
Posted: Tue, Mar 12, 2002, 7:17 AM ET (1217 GMT)
  • Alcatel announced Monday that it has won a contract from SES Americom to build a new communications satellite. The AMC-23 satellite will be based on Alcatel's Spacebus 4000 model and provide 60 C-band transponders for transatlantic communications. The contract is partial compensation for the cancellation of four satellite orders by SES Global last month and late last year.
  • Northrop Grumman said Monday that it has filed notification of its plans to acquire TRW with the US Justice Department and Federal Trade Commission, so that these agencies can begin their antitrust review. Northrop announced a week earlier that it planned to proceed with a hostile bid to acquire TRW after the company turned down Northrop's $47/share offer.
  • Three executives will join Boeing's Office of the Chairman, the company announced Monday. CFO Michael Sears, CTO David Swain, and chief people and administration officer Laurette Koellner will join CEO Phil Condit in the office effective March 15. The move is being made in preparation of the retirement this June of Boeing vice chairman Harry Stonecipher.
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