St. John's companies sign contract during Iceland trade mission

NorthStar Technical Inc. and Nordsea Ltd. of St. John's, signed a contract with Ismar hf. in Iceland yesterday at a reception hosted by the Department of Industry, Trade and Rural Development for members of the Icelandic business community and government. The Reykjavik company has been appointed exclusive sales representative in Iceland for NorthStar's NETMIND� Trawl Monitoring System and will collaborate with NorthStar on product development. 

NorthStar Technical Inc. and Nordsea Ltd. signed an agreement with Ismar hf. to market NorthStar's NETMIND� Trawl Monitoring System in Iceland and to collaborate in product development for the next generation of acoustic sensors and receivers to be produced by NorthStar Technical. The NETMIND� Trawl Monitoring System is used extensively in the world's commercial fishing industry. 

MHA George Sweeney, Parliamentary Secretary to Minister Beaton Tulk for Information and Advanced Technologies, participated in the signing. "In the past, acoustic trawl monitoring devices were exported to Newfoundland and Iceland almost entirely from Norway. It is to NorthStar's credit that they have produced a product of international caliber that can compete side-by-side with some of the most recognized names in this field," he said.

The Minister of Industry and Commerce for Iceland, Valgerdur Sverrisdottir also participated in the signing.

NorthStar Technical Inc. is a high technology development and manufacturing company with two main business activities: underwater communications systems and marine electronic contract manufacturing. NorthStar was also winner of the New England Trade Export Award at the 17th Newfoundland and Labrador Export Awards in April. 

Nordsea Ltd. is the international marketing agent for NorthStar Technical's NETMIND� Trawl Monitoring System.

"The combination of Nordsea's fishing gear expertise, NorthStar's dedication to innovation and production excellence and Ismar's experience are essential to capture market share in Iceland and Europe," said Don Vokey, manager of marketing and sales for NorthStar Technical. "The contract will benefit all of the parties involved."

Ismar hf. brings more than 20 years of experience in sales, service and innovative solutions within the field of acoustic trawl monitoring in the demanding Icelandic market.

Reynir Gudjonsson, managing director of Ismar hf., said he is enthusiastic about the cooperation between the three companies and the first development project. Mr. Gudjonsson also said he sees significant potential market for the NETMIND� Trawl Monitoring System in the Faroe Islands, Denmark, Norway and Iceland.

The first NETMIND� Trawl Monitoring System in Iceland will be installed in November 2001.

Media contact: 
          Don Vokey, NorthStar Technical Inc., (709) 738-6440
          Josephine Cheeseman, Industry, Trade and Rural Development, (709) 729-4570.

2001 10 16                             9:15 a.m.