Norsat Launches New Power Solutions Division
Norsat International Inc. announced the establishment of Norsat Power Solutions. The new business division will provide turnkey, project-specific power conversion and energy storage solutions for high-integrity applications in the communications, transportation and resource sectors. It will also develop complementary products for Norsat’s other divisions, including power supplies and dc-dc converters for the Company’s Microwave Products Division and portable power products for its Satellite Solutions Division. Norsat Power Solutions will be located at Norsat’s Aurora, Ontario plant, which is also headquarters to the Company’s Sinclair Division.
Ivan Gissing, who was recently appointed General Manager of Sinclair will also lead Norsat Power Solutions. Gissing has over 20 years experience in the technology manufacturing industry and is a specialist in power conversion and energy storage solutions.
"We are always exploring new revenue opportunities," said Dr. Amiee Chan, President and CEO of Norsat. "Our Power Solutions Division will enable us to diversify into a new market segment, while leveraging a number of our existing Norsat / Sinclair customer relationships, especially in the utility and rail sectors. The new division will also allow us to expand our existing product offerings and may create some modest cost synergies. As an added benefit, the power solutions market segment includes projects that have ongoing monitoring or service requirements as well as regular upgrade and renewal cycles. These projects, if won, would create new recurring revenue streams for Norsat, which is a key strategic objective."
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