In the wake of its failed attempt to merge with Contel Corp, Communications Satellite Corp, the Washington-based satellite communications firm, is embarking on a radical restructuring that will result in net charges and provisions of $98m with its second quarter figures – see Company Results, alongside. The company is putting its Amplica microwave components manufacturing business on the block – which will account for $46m in provisions. The second biggest charge is $32m against the cost of two direct broadcast satellites it has under construction and for which it has found no buyers. The balance is made up of $16m in write-offs on Comsat International Communications, also being sold, and $3m for the cost of the aborted merger.
