Orbcomm Global L.P. says its Vantage Tracking Solutions subsidiary will continue to serve trucking customers despite a recent Chapter 11 bankruptcy filing - even if Orbcomm sells Vantage as part of a restructuring plan. The wireless communications company says it will also continue operating and maintaining its satellite network and related ground facilities.
"We have a commitment to that segment and we're going, through Vantage, to serve it," says Orbcomm chairman and CEO Scott L. Webster.
Vantage Tracking Solutions was first to market with a national trailer tracking system based on Orbcomm's constellation of 35 low-earth-orbit (LEO) satellites in late 1998. Orbcomm and seven subsidiaries, including Vantage, filed for court protection on September 15 as it attempted to find new capital and reorganize. Earlier this year, the company laid off 212 employees and received a $17-million loan from its parent company, Teleglobe.
"Vantage will continue, is continuing now," Webster told FLEET OWNER. "We've had to reduce staff, but the core people, the core intellectual property and a substantial amount of good working inventory is on hand."
