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Spacehab Completes Next Phase in Revitalization Plan
Houston - May 5, 2003 Spacehab says it has completed the next phase of its corporate reengineering activities to enhance its operating plan and competitive position. In January 2001, Spacehab implemented a multi-faceted plan to stabilize the Company and improve its financial health. The continuous successful execution of this plan has resulted in an improved financial position, satisfactory operating margins and costs, and a reduction in debt obligations. Spacehab has recently taken additional steps to implement a new organization structure, reduce excess staffing levels, and streamline sales, general, and administrative expenses. Spacehab has reorganized its Johnson Engineering subsidiary to optimize the Company's ability to perform government cost-type contracts, particularly new business opportunities in support of the International Space Station program. Now doing business under the name of Spacehab Government Services (SGS), this business unit successfully provides high-value engineering and related aerospace services primarily to NASA's Johnson Space Center. Mr. Dan A. Bland, who is currently Spacehab's Senior Vice President of Space Flight Services, will expand his responsibilities to include leadership of the SGS business unit. In this role he will oversee Spacehab's commercial and government contracts and new business pursuits. Within SGS, an Advanced Programs group has been created to lead the execution of new programs, such as Orbital Space Plane, that build on Spacehab's existing core competencies and develop a 'bridge' to future business. Furthermore, Business Development has been centralized and combined under the Strategic Programs organization in order to facilitate a coherent approach for pursuing future involvement in space flight markets. This strategic organization, led by Mr. Karol "Bo" Bobko, Spacehab Vice President and former NASA astronaut, encompasses the business development process, strategic planning, and all research and development activities. "In order to enhance the performance of our business units and to align them with our strategic objectives, the Company has instituted a new corporate structure," said Michael E. Kearney, Spacehab President and Chief Executive. "This structure supports short-term goals, helping us refocus our organization toward activities important to us today, such as ISS Program contract consolidation, and it revitalizes our strategic momentum." Community Email This Article Comment On This Article Related Links Spacehab SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express The latest information about the Commercial Satellite Industry
Stratos Steps Closer To Xantic Acquisition
Bethesda MD (SPX) Jan 5, 2006Stratos Global recently announced it had taken a step closer toward the completion of the acquisition of Xantic, having received positive advice from the Works' Council in the Netherlands, and executed a definitive agreement to purchase Xantic from KPN and Telstra Corporation. |
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