Innovation, Trade and Rural Development
August 1, 2007

St. John�s Technology Company Signs Contract following Iceland Trade Mission

Northstar Technical Inc. of St. John�s has signed a contract with R. Sigmundsson EHF of Reykjavik following a trade mission to Iceland sponsored by the Department of Innovation, Trade and Rural Development.

R. Sigmundsson has been appointed exclusive sales representative for Northstar�s NetMind� Trawl Monitoring System for Iceland, Greenland and the Faroe Islands. The two companies will also collaborate in product development for the next generation of acoustic products to be produced by Northstar Technical. The NetMind� Trawl Monitoring System is currently used extensively in the world�s commercial fishing industry.

"Helping companies such as Northstar Technical break into new export markets is the reason we organize trade missions," said the Honourable Trevor Taylor, Minister of Innovation, Trade and Rural Development. "This mission streamlined the process of making new business contacts by pre-arranging meetings between Newfoundland and Labrador companies and appropriate companies in Iceland. I congratulate Northstar on its success."

Northstar Technical is a high technology development and manufacturing company with two main business activities: underwater communications systems and marine electronic contract manufacturing. R. Sigmundsson is a major service company for the Icelandic fishing industry and represents a wide range of products.

"Our product line is now complete with the addition of Northstar�s NetMind� Trawl Monitoring System," says Haraldur Ulfarsson, managing director of R. Sigmundsson.

"The combination of R. Sigmundsson�s knowledge of the Icelandic market and Northstar�s dedication to innovation and production excellence is essential to capture market share in Iceland and Europe," says Don Vokey, vice-president of marketing and sales for Northstar Technical. "This contract will greatly benefit both companies for many years to come."

The trade mission to Iceland took place in June 2007 with 12 multi-sector companies from various regions of the province. The mission was an initiative of the Department of Innovation, Trade and Rural Development (INTRD), in partnership with the Canadian Manufacturers and Exporters (CME), the Newfoundland and Labrador Organization of Women Entrepreneurs (NLOWE), the Atlantic Canada Opportunities Agency (ACOA), and the Department of Foreign Affairs and International Trade Canada (DFAIT).

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Media contacts:

Clifford Grinling
Manager of Communications
Department of Innovation, Trade and Rural Development
709-729-7066
cgrinlin@gov.nl.ca
Don Vokey
Vice-President, Marketing and Sales
Northstar Technical Inc.
709-738-6440
donvokey@netmind.ca

2007 08 01                                                   11:00 a.m.

 


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