Corporate Announcements

Year 19 Day 230 – Loronar Corporation Acquires TranStar Construction as Part of Deal to Gain Megaproject in Outer Rim

OUTER RIM TERRITORIES —  Thrane Blis, President & CEO of Loronar Corporation (GSE: LOR) announced today that the Corporation had signed a major contract with Confederate Remnant Partner, Kutol-Chan Industries, to provide construction and city development and administration services on [redacted], a war-torn planet in the Outer Rim. The contract for what has been called a “megaproject” by local media outlets marks a new approach for Loronar Corporation, which has previously focused primarily on starship and space station construction as major streams of revenue, although the Corporation does own many subsidiaries in a variety of industries. Blis also announced that the Corporation has formally acquired TranStar Construction (GSE: TSC), which had suffered in recent years after losing key Imperial contracts.

Loronar CEO Thrane Blis

“The Corporate Board did our due diligence as we would with any acquisition,” Blis said during a virtual news conference aboard the [LCS] Triumph. “TranStar has a history of working on projects similar to this one. It’s no secret they have been struggling the last few years, but I think it’s indicative of their spirit and shrewdness that they have been able to maintain their liquidity, with much of their previous infrastructure remaining in place despite losing Imperial business. We can now take advantage of that, putting their capital equipment and experienced personnel to use in this project and adding our logistics expertise in the process. I’ve also asked our CFO, Nox Rime, to serve for a few months on their board to make sure they course-correct back to where they need to be.”

Loronar COO Xior Sorath

“We have already spent hundreds of millions of credits on raw materials and personnel to get started on the project,” Xior Sorath, Loronar’s Executive Vice President and Chief Operations Officer, commented. “But the TranStar acquisition goes beyond this project alone; it gives us the opportunity to expand our planetary development capabilities and become a major competitor in that market in the coming months and years.”

Ddsate Krell, the project manager in charge of the construction efforts, said, “Mobilization for this project has already taken place, actually — we knew that this was coming down the pike weeks ago and were able to deploy some assets ahead of time, thankfully. In fact, some initial construction phases have already begun within various cities on [redacted]. We’ve already been able to construct power generation facilities and some basic roads, as well as landing pads and hangars to expand our logistics capacity and establish our presence on-planet. We’re digging out foundations for apartment blocks, offices, and all the other necessities for the new settlers that will be calling [redacted] ‘home’ soon.”

The megaproject is expected to be completed in late Year 19.