Orbital to Sell Magellan and Navigation Solutions Subsidiaries

Orbital Sciences Corp. is placing its Magellan Corp. subsidiary up for sale as part of a larger restructuring. Magellan, which builds portable satellite-based navigation units, posted US$97.3 million in revenue for 2000, a 10 percent drop from 1999, and a loss of US$14.9 million. Orbital is also selling its interest in Navigations Solutions LLC. The combined price tags for Magellan and Navigation Solutions aren't likely to exceed US$90 million.

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