By NZPA
Thursday 26th July 2007 |
Text too small? |
Prairie Capital, which bought Navman Wireless, comprising around a third of the original company sold by US marine products company Brunswick, said it had virtually doubled its local head count to 80 in the last year.
Auckland-based vice-president of product delivery, Chris Bradley, said business had never been better and the company was growing in all its markets, especially in New Zealand.
The New Zealand operation is largely responsible for the development of fleet-tracking Global Positioning Systems (GPS).
Bradley, previously with Navman in the US, heads New Zealand-based development.
Prairie Capital has over $US500 million ($NZ630 million) invested in 60 businesses.
The marine assets of Navman were sold in March to Norwegian firm Navico International, which hired 260 of the 280 New Zealand staff in that division previously employed by Brunswick.
Bradley said that, like all New Zealand firms, the high currency was providing its challenges and squeezing margins. However, it received a natural hedge by purchasing many components in US dollars and had still managed to build markets.
There was no plan to shift operations elsewhere.
He said the global investment in the wireless division had been significant and continued through the whole sales process.
"If anything it's probably taking up speed."
No comments yet
Infratil releases Climate Related Disclosures
The Warehouse Group Appoints Chief Digital & Transformation
The Financial Collapse Has Already Begun - Will You Be Caught Off Guard?
NWF - IMPLEMENTATION OF SCHEME OF ARRANGEMENT
EROAD Publishes FY25 Group Climate Statement
Synlait provides performance update
Air New Zealand Chief Executive Officer Appointment
July 30th Morning Report
IKE 1Q FY26 Performance Update
July 29th Morning Report