Furuno and ENL join forces
Japan’s Furuno Electric Co has acquired an initial 10% shareholding stake in New Zealand marine electronics company, Electronic Navigation Ltd (ENL), and its wholly-owned subsidiary WASSP Ltd.
The two companies, which have worked together for almost 50 years supplying Furuno products to New Zealand markets, say the investment reflects the opportunities and forward-looking growth that can be capitalised on with technical and financial collaboration.
“This strategic alliance is the most significant milestone in our 69 year history. Furuno’s financial investment in ENL will strengthen our position in the New Zealand and South Pacific sector with the Furuno brand, together with numerous opportunities to expand our R&D and global export business from New Zealand,” said Gareth Hodson, managing director, ENL.
Founded in 1945, ENL is known for its award-winning, multi-beam WASSP sonar, which produces 3D topographic imagery of the seafloor and is regarded as a technology showcase for New Zealand’s hi-end software expertise.
Since its launch in 2006, WASSP has established itself as a major player in the market, with over 700 systems shipped to date to customers worldwide in markets covering defence, survey and mapping, fishing and superyacht applications.
“ENL is known for its excellent customer support, and we look forward to deepening the relationship between ENL and Furuno even more now that ENL is part of our family. Both companies are committed to developing superior technology and contributing to the safety and enjoyment of all mariners around the world,” added Mike Koike, managing director, Furuno Electric.
By Rachael Doyle
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