[sac-forum] Celestron, Tasco out of Business
- From: Paul Dickson <dickson@xxxxxxxxxxxxxxxxx>
- To: SAC Forum <sac-forum@xxxxxxxxxxxxx>
- Date: Fri, 31 May 2002 23:40:36 -0700
From SKY & TELESCOPE's WEEKLY NEWS BULLETIN - May 31, 2002
CELESTRON, TASCO OUT OF BUSINESS?
Telescope giants Tasco Worldwide and Celestron International are once
again in the news following Wednesday's announcement that Tasco is
liquidating its assets after defaulting on nearly $30 million in loans.
In 1998 Tasco purchased Celestron, becoming the sole owner of the
California-based telescope manufacturer that changed the world of amateur
astronomy when it began mass marketing high-end Schmidt-Cassegrain
telescopes in the 1970s.
Currently it is unclear whether Tasco's liquidation will mean that the
company is sold intact or in pieces. Celestron's vice president of
engineering, Rick Hedrick, told Sky & Telescope that despite Tasco's woes
Celestron is fully staffed and "continuing normal operations" at its
Torrance, California, headquarters....
> http://SkyandTelescope.com/news/current/article_618_1.asp
-Paul
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