Canada’s Norsat streamlined operations by reducing sites to Burna...
Canada’s Norsat streamlined operations by reducing sites to Burnaby and Winnipeg and cutting 30% or 50 positions from work force. Company hopes restructuring will save $2 million. Plans call for global sales and marketing units under Vp Lindsay Ryerson…
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also to resume responsibility for broadband components and systems business. Company said Vp-Norsat Broadband Networks Gordon Deans and Pres. Norsat Atlanta Percy Rivera would be leaving company to pursue other opportunities. Norsat also said it still was looking for buyer of Norsat America distribution business and, in effort to further reduce costs, was finalizing sale of Norsat America assets. Transaction is expected to be completed by end of Feb., generating $5.5 million in cash.