Published:
Norsat Enters Strategic Partnership With Navisystem Marine Electronics
Partnership Facilitates Company's Expansion Into the Maritime Satellite Communication Market
Norsat International Inc. (TSX: NII) (OTCBB: NSATF) ("Norsat"), a leading provider of intelligent satellite solutions,
today announced that it has entered into a strategic partnership with
Italy-based Navisystem Marine Electronics S.R.L. ("Navisystem"), a provider
of maritime very small aperture terminals ("VSAT").
As per the terms of the agreement, Norsat will sell Navisystem's marine
satellite terminals under the Norsat brand in North America, and Navisystem
will act as a non-exclusive reseller of Norsat's satellite systems in
Europe, the Middle East and Asia. In addition, the two companies will
explore opportunities for joint development projects, working to leverage
each company's respective technology expertise to introduce a suite of
marine satellite terminals that meets the varying needs of government and
commercial maritime markets worldwide.
"A 2008 objective for Norsat is to establish a foothold in the global
maritime satellite communication market, and this strategic partnership is
a key first step," said Dr. Amiee Chan, President and CEO, Norsat
International. "Navisystem is a leading developer of maritime satellite
terminals, making its product offering a natural addition to our portfolio
of satellite systems. We look forward to working with Navisystem to further
expand our product suite in an effort to become a strong player in the
worldwide maritime satellite communication market."
"Partnering with Norsat expands our geographic reach, enabling us to better
capitalize on the global demand for maritime satellite communication
systems," said Dr. Brunello Locatori at Navisystem. "By leveraging Norsat's
strong brand and leadership position in the portable satellite terminal
industry, we believe we will be well positioned to effectively penetrate
the North American market."
Norsat and Navisystem will be jointly exhibiting at the Cannes
International Boat and Yacht Show, September 10th, 2008 - September 15th,
2008 in Cannes, France; the Genoa 48th International Boat Show (Salone
Nautico Internazionale di Genova), October 4th - October 12th, 2008 in
Genova, Italy; the 49th International Boat Show, October 25th, 2008 -
November 2nd 2008 in Hamburg, Germany; the 49th Annual Fort Lauderdale
International Boat Show, October 30th, 2008 - November 3rd, 2008 in Ft.
Lauderdale, Florida; and the Marine Equipment Trade Show (METS), November
18th - 20th, 2008 in Amsterdam, the Netherlands.
Navisystem Marine Electronics S.R.L.
Navisystem Marine Electronics S.R.L., founded in 1993, specializes in the
design and development of maritime satellite systems. The Massarosa,
Italy-based company has a comprehensive portfolio of 48 antenna models
ranging from 44 cm to 150cm, which have found success with small boats,
mega yachts, commercial ships and cruise ships.
About Norsat International Inc.
Norsat International Inc. designs, engineers and markets intelligent
satellite solutions for high-speed data transmission. Additional
information is available at www.norsat.com. Further information is
available through email at investor@norsat.com or by phone, 1-604-821-2808.
Forward-Looking Statements
Statements in this news release relating to matters that are not historical
fact are forward-looking statements based on current expectations,
forecasts and assumptions that involve risks and uncertainties that could
cause actual outcomes and results to differ materially. Factors that could
cause or contribute to such differences include, but are not limited to,
general economic conditions, changes in technology, reliance on third party
manufacturing, managing rapid growth, global sales risks, limited
intellectual property protection and other risks and uncertainties
described in Norsat's public filings with securities regulatory
authorities.
This information should be read in conjunction with Norsat's audited
consolidated financial statements and related notes included therein for
the three months ended June 30th, 2008, and the Management Discussion and
Analysis for the three months ended June 30th, 2008. All of the company's
financial statements are prepared in accordance with Canadian generally
accepted accounting principles (Canadian GAAP). Additional information may
be found at www.norsat.com.
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Tags: ,Telecom:Cable and SatelliteServices, Telecom:TelecommunicationEquipment, Telecom:TelecommunicationServices, Telecom:Wireless, TransportationandLogistics:Maritime, ,OTCBULLB,OTCBULLB,BC,VANCOUVER, BC
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