May 1, 2017 / 11:53 PM / 4 months ago

BRIEF-Orbite provides corporate update

May 1 (Reuters) - Orbite Technologies Inc

* Orbite provides corporate update

* Approximately 39 full time employee equivalents, out of 81, have been temporarily laid-off

* Is now under protection of companies' creditors arrangement act

* Orbite technologies inc - Denis Arguin, vice-president of engineering and operations, left company on April 28

* Orbite Technologies Inc - most of layoffs are at cap-chat plant

* Superior court of Quebec's initial order provides for an initial stay of all proceedings until may 29, 2017

* Orbite Technologies - repayment of principal under main agreements with Investissement Québec, Canada economic development is scheduled to commence in 2020, 2021 Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below