Northstar Electronics Finalises Echotec Takeover

Press Release
Thursday, May 24, 2012

Northstar Electronics completes acquisition of Echotec Sonar

Northstar Electronics, Inc is announcing today that they have completed the acquisition of Echotec Sonar, which is now a wholly owned subsidiary of the company.  Terms of the deal fall in line with previous announcements and will be fully disclosed in regulatory filings.

With Echotec now being the cornerstone entity of Northstar Electronics, the company plans to aggressively develop sonar systems needed by the defense, Homeland Security, commercial shipping, cruise ship and commercial fishing sectors. As well, Echotec will pursue contract opportunities to design, develop and build systems for particular projects in North America and internationally.

Northstar will now be seeking new partners for joint developments, projects and for funding.

"We saw this as an excellent chance to get back to our original business area, the sonar world, and we will now endeavor to fully capitalize on this opportunity," added Dr. Wilson Russell, CEO of Northstar Electronics.  "We are in the process of the disposition of our defense operating subsidiary, focused on contract manufacturing, so this will effectively be a rebranding of Northstar."

Northstar Electronics, Inc., is a holding company with executive management specialized in design engineering, defense, advanced systems, security, sonar, systems integration, and prototyping fields.

 

 


 

 

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Materials

Nordic Yards Delivers 'Wind Server'

Nordic Yards officially handed over the offshore service vessel to the Danish company DBB Jack-Up Services A/S. During the handover ceremony, the ship was named ‘WIND SERVER’.

Gatto Industrial Starts Electroplating in North America

Gatto Industrial Platers, Inc. has launched its new Large Parts Zinc Electroplating Line, capable of plating parts up to 27 feet long and weighing up to 8,000 pounds.

Crewboat Sold to European Buyers‏

Marcon International, Inc. of Coupeville, Washington infomred that Tidewater Marine International Inc. has sold their 41.2m x 8.2m x 3.5m depth / 2.38m draft,

Electronics

Lowrance Renews Insight Genesis College Cup

Lowrance®, a world-leading brand in fishing electronics since 1957— announced today the renewal of its Insight Genesis™ College Cup. In its second year, the

NMEA Updates Installation Standards

2014 edition of NMEA 0400, Version 4.00 features extensive updates and new information   The National Marine Electronics Association (NMEA) has published Edition 2014, Version 4.

K Line to Expand Use of Eco-efficiency Software

Three further K Line vessels to install ClassNK-NAPA GREEN eco-efficiency software after reporting fuel savings during trials on an 8,600 TEU container vessel   NAPA

Mergers & Acquisitions

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

Teekay Tankers to Acquire 5 Tankers

Teekay Tankers Ltd. announced that it will acquire four coated Aframax tankers and one uncoated Aframax tanker for an aggregate purchase price of approximately $230 million.

DP World: Shareholders Back EZW buy, London Delisting

Shareholders of DP World have approved buying Economic Zones World from its majority shareholder and also backed the port operator's delisting from the London Stock Exchange,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1352 sec (7 req/sec)