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FURUNO Electric Co., Ltd and Electronic Navigation Ltd join forces

FURUNO Electric Co., LTD. is pleased to announce that it is joining forces with Electronic Navigation Ltd (hereinafter called "ENL"), New Zealand's largest marine electronics company and the developer of the award winning WASSP sonar. In a joint announcement ENL & FURUNO have announced that FURUNO will take an initial 10% shareholding in ENL and its wholly owned subsidiary WASSP Ltd.

This major investment reflects not only ENL's and FURUNO's near 50-year relationship with ENL representing and supporting FURUNO's products to the commercial fishing industry and recreational markets in New Zealand and the wider Pacific territory, but also the opportunities and forward looking growth that the two companies see can be capitalised on with technical and financial collaboration.

The core strength behind ENL's success is the company's innovative approach to problem solving, its world-class signal processing technology and its people and culture are well aligned with the world leading technology of FURUNO.

ENL's WASSP is a multi-award winning multi-beam system, which produces 3D topographic imagery of the seafloor and associated fish detection and is regarded as a technology showcase for New Zealand's high-end software expertise. Since its commercial introduction in 2006, WASSP has established itself as a major player in this specialised and technically demanding market with over 700 systems shipped to date to customers worldwide in markets covering commercial fishing, defence, survey & mapping and super-yacht applications.

Location: New Zealand, Auckland
Representative: Gareth Hodson, Managing Director
URL: http://www.enl.co.nz/