|
Innovation, Trade and Rural Development April 16, 2009
Local Manufacturer Targets International Marine Market Notus Electronics Ltd., a manufacturer of wireless acoustics technology, is conducting a market analysis of potential export opportunities in Spain and how to best position its products in that market. Building on its track record of success in the United Kingdom, the company views the Spanish fishery as a potential base to further market its marine-based technology products. "The Provincial Government�s $22,025 investment in Notus Electronics to conduct market intelligence represents our continued commitment to growing the local manufacturing sector,� said the Honourable Shawn Skinner, Minister of Innovation, Trade and Rural Development. �In the current economic climate, it is essential for companies to conduct due diligence when targeting new opportunities and markets. Planning and analyzing how best to target a new market is a critical step for any company to expand its market reach.�
Incorporated in 1992, Notus Electronics Ltd. is the only company in the world that has applied its wireless 360-degree acoustics technology to create high-quality net monitoring systems for the global commercial fishing industry. The company�s office in the United Kingdom (Notus UK) has already enjoyed success with its technology installed on more than 150 UK trawlers. With a large network of distributors to service and sell its products world-wide, Notus Electronics is now the world�s third largest supplier of complete net monitoring solutions. "The investment by the Provincial Government has allowed Notus to make an in-depth study of the Spanish market," said Francis Parrott, Marketing Manager, Notus Electronics. "This investigation has been the main basis for Notus�s decision to invest in Spain." A locally-owned company, Notus Electronics develops and manufactures its technology from the St. John�s head office. Notus UK completes sales and service in the United Kingdom and Ireland, representing 50 per cent of the company�s revenues. Currently, the firm employs eight people but with sufficient market intelligence to move into Spain, Notus will locate a position in that country and up to two additional staff members at the local site. "I am confident that Spain�s fishing industry will see the benefits of the innovative technology developed by Notus Electronics," said Bob Ridgley, MHA, St. John�s North. "Application of the company�s technology makes it easier for skippers to locate fish stocks and prevent gear damage, thereby avoiding unnecessary costs. The company�s expansion plans hold great potential for bringing new dollars to the provincial economy."
The project was funded through the Business and Market
Development Program (BMDP). Administered by the Department of
Innovation, Trade and Rural Development, BMDP provides new entrepreneurs
and expanding small businesses with matching funding to help them
acquire the necessary expertise to pursue new business ideas and
markets. Budget 2009 includes $1 million for the program, which supports
new growth opportunities in the economy, such as value-added
manufacturing activities and export-oriented opportunities. - 30 - Media contact: 2009 04 16
10:55 a.m.
|
|
|
|
All material copyright the Government of Newfoundland and Labrador. No unauthorized copying or redeployment permitted. The Government assumes no responsibility for the accuracy of any material deployed on an unauthorized server. Disclaimer/Copyright/Privacy Statement |
