GN Store Nord Sells Off Last of Maritime Communications Unit

Friday, July 13, 2001
Danish diversified technology firm GN Store Nord said on Friday it had sold the remainder of its GN Comtext maritime sector communications unit to U.S.-based EasyLink Corp. for an undisclosed sum.

GN said the sale would have a negative impact on group income before tax of about 95 million crowns ($10.9 million), denting net profit for the full year to the tune of some 60 million crowns.

The company said in a statement it had now sold off its entire stake in the unit after selling off parts of the firm last year.

"GN Great Nordic has divested GN Comtext with effect from July 1 in line with the company's strategy to enhance its focus on its core businesses, GN NetTest, GN ReSound and GN Netcom," it said.

GN NetTest is a fiber optic operation, while GN ReSound makes hearing aids and GN Netcom manufactures headsets.

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0551 sec (18 req/sec)