Marine Electronics Company Navico Emerges

Today, a company to be known in the development, production, marketing and sales of marine electronics comes to life, under the name of Navico. The launch of Navico is the result of the merger between Simrad Yachting AS and Lowrance Electronics Inc. The newly merged company will reach world wide revenues close to $300m for 2006. The company's headquarters is located at Lysaker outside of Oslo, Norway and the total number of employees will be approximately 2.500, spread world-wide. Bringing it all together is new company owner Altor, a Nordic investment company.

The market for marine electronics is experiencing international growth. Bringing together four of the world's strongest brands in the marine electronics business in one company, Navico strongly believes in its ability to realize considerable synergies of revenues and costs. This will benefit both customers and the Navico organization.