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FURUNO acquires majority shares in Electronic Navigation Ltd, New Zealand

2018-07-30

FURUNO Electric Co., Ltd raised its stake ratio to 51% and completed a significant acquisition of the Electronic Navigation Ltd (ENL), the official FURUNO distributor in New Zealand and Manufacturer of WASSP Multi beam sonar.

Since 1945, ENL has been conducting its business in commercial fishing, super yacht, defense and recreational markets in New Zealand and across the world. The mutual cooperative relationship between FURUNO and ENL has been grown over many decades. While ENL takes responsibility of representing and supporting FURUNO products in New Zealand and the South Pacific, the FURUNO Group in turn distributes WASSP Multi Beam Sonar in key fishing markets worldwide developed in New Zealand.

In 2014, FURUNO took initial 10% of shareholding in ENL and raised the capital key to 29.5% in the next year. This year, FURUNO took the majority of shares by upraising the ratio to 51%. This milestone investment has been made to bolster growth of FURUNO presence in New Zealand and the South Pacific and WASSP sales in international markets, while taking full advantage of ENL’s proven strength in research and development and engineering skills.

Actual screenshot of WASSP F3
Actual screenshot of WASSP F3

About Electronic Navigation Ltd (ENL)
Location: New Zealand, Auckland
Representative: Gareth Hodson, Managing Director
Capital: NZD 2. 6million (as of July 1st, 2018)
Projected sales: NZD 15million (September, 2018)
URL: http://www.enl.co.nz/

More information about WASSP Multi Beam Sonar, visit our website on https://wassp.com/.