SOURCE: Norsat International Inc.
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March 11, 2008 05:30 ET
Norsat Awarded NATO Basic Ordering Agreement
VANCOUVER, BC--(Marketwire - March 11, 2008) - Norsat International Inc. (TSX: NII) (OTCBB: NSATF), a leading provider of intelligent satellite solutions, announced
today that it has signed a Basic Ordering Agreement (BOA) with NATO's
Consultation, Command and Control Agency (NC3A) for its OmniLink and
GLOBETrekker portable satellite terminals, as well as its suite of
microwave products.
"Being awarded this BOA opens the door to a large range of potential
customers for Norsat, as we now have formal access to new market
opportunities for which we could not have previously been a contender,"
said Dr. Amiee Chan, president and CEO Norsat International Inc. "Although
there is no immediate dollar value tied to this type of agreement,
establishing such contract vehicles makes it easier for customers to order
products from Norsat."
A BOA is a procurement vehicle whereby the contract is negotiated in
advance and placed centrally with a supplier. The BOA outlines the clauses
that will be applicable to the future procurement of a specified range of
goods and services. In the case of NC3A BOAs, all basic contract
provisions are agreed upon, including prices or a definitive pricing
methodology, after which NATO, NATO Member Nations and other eligible
purchasers can place individual orders against the central contract. NC3A
negotiates all BOAs on behalf of NATO in accordance with NATO guidelines
and procedures.
About Norsat International Inc.
Norsat International Inc. designs, engineers and markets intelligent
satellite solutions for high-speed data transmission. Additional
information is available at www.norsat.com. Further information is
available through email at investor@norsat.com or by phone, 1-604-821-2808.
Forward-Looking Statements
Statements in this news release relating to matters that are not historical
fact are forward-looking statements based on current expectations,
forecasts and assumptions that involve risks and uncertainties that could
cause actual outcomes and results to differ materially. Factors that could
cause or contribute to such differences include, but are not limited to,
general economic conditions, changes in technology, reliance on third party
manufacturing, managing rapid growth, global sales risks, limited
intellectual property protection and other risks and uncertainties
described in Norsat's public filings with securities regulatory
authorities.
This information should be read in conjunction with Norsat's unaudited
interim consolidated financial statements and related notes included
therein for the nine months ended September 30, 2007, and the Management
Discussion and Analysis for the nine months ended September 30, 2007. All
of the company's financial statements are prepared in accordance with
Canadian generally accepted accounting principles (Canadian GAAP).
Additional information may be found at www.norsat.com.