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

Marine Materials

Petrobras P-66 Platform Module to Boost Production

The P-66 platform’s first modules, built at the Tomé Ferrostaal Consortium’s Module Plant located at the Port of Maceió, Alagoas, are now ready and loaded on the São Tomé barge.

Maersk Interceptor Named in Norway

In a ceremony held at GMC Marine Partners yard in Mekjarvik in Norway, Mrs. Anita Utseth, Senior Vice President in Det norske oljeselskab ASA (Det norske) had

Fincantieri & Vittoria Shipyard Join Forces

During the 24th edition of Euronaval, the most prestigious event in the world for naval defense, Fincantieri, one of the major shipbuilding groups worldwide, and Vittoria Shipyard,

Electronics

Aquarius MAS with Marine Solar Power Installed on Delos

Eco Marine Power together with strategic partners has installed an Aquarius Management & Automation System (MAS) integrated with a marine solar panel array on-board the Blue Star 'Delos'.

New Videoconferencing Kits Offer Medical Lifeline

DigiGone, a communication solution provider specializing in secure video transmission, introduced its new remote telemedicine kits for marine, aviation and land-based applications.

L-3 MSI Supplies Navigation for the Oasis Class

L-3 Marine Systems International (L-3 MSI) has been awarded a contract to provide its NACOS Platinum navigation system, including an integrated dynamic positioning system,

Mergers & Acquisitions

MHI to Change Name of Group Company

Effective November 1 Mitsubishi Heavy Industries, Ltd. (MHI) will change the name of its group company in Singapore from Mitsubishi Heavy Industries Engineering & Services Private Ltd.

Vale CEO: Coal Deal Soon

Brazilian mining company Vale SA is close to making a "strategic" announcement concerning its coal unit, the company's chief executive Murilio Ferreira said on

Fincantieri & Vittoria Shipyard Join Forces

During the 24th edition of Euronaval, the most prestigious event in the world for naval defense, Fincantieri, one of the major shipbuilding groups worldwide, and Vittoria Shipyard,

 
 
Maritime Standards Naval Architecture Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
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: 0.4740 sec (2 req/sec)