Nortech Systems Sells Zercom Marine Product Line; Sale Will Enhance Focus on Core Businesses.MINNEAPOLIS--(BUSINESS WIRE)--Nov. 12, 1997-- Nortech Systems, Inc. Conference Call Announcement/ 1-800-369-3306 Thursday, November 13 at 4:00 p.m. (CST CST abbr. 1. Central Standard Time 2. convulsive shock treatment CST Central Standard Time Noun 1. ) Nortech Systems, Inc. (Nasdaq: NSYS) today announced it has completed the sale of its Zercom Marine product line to Emerging Recreational Technologies, Inc., St. Paul St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery , Minn. Zercom Marine products include recreational fish locators and depth finders depth finder n. An instrument used to measure the depth of water, especially by radar or ultrasound. depth finder . Terms of the sale were not disclosed. "Because the products associated with Zercom Marine are of a retail/recreational nature, they don't fit with our core contract manufacturing or display products businesses," says Quent Finkelson, Chairman, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Nortech Systems. "This sale will eliminate a non-synergistic element of Nortech, and will enable us to focus exclusively on serving our main customers -- original equipment manufacturers in a number of high-tech industries." Nortech Systems, Inc., based in Wayzata, Minn., is a manufacturer of wire harnesses, cable and electromechanical The use of electricity to run moving parts. Disk drives, printers and motors are examples. Electromechanical systems must be designed for the eventual deterioration of moving components that wear over time. The first TVs were electromechanical systems (see video/TV history). assemblies, printed circuit board assemblies and higher-level assemblies for a wide range of commercial and defense industries. Nortech Systems has additional Minnesota facilities in Aitkin, Bemidji, Fairmont and Merrifield Mer·ri·field , R(obert) Bruce Born 1921. American biochemist. He won a 1984 Nobel Prize for developing a method of synthesizing peptides and proteins from amino acids. ; and facilities in Augusta, Wis adv. 1. Certainly; really; indeed. v. t. 1. To think; to suppose; to imagine; - used chiefly in the first person sing. present tense, I wis. See the Note under Ywis. . Nortech Systems' Imaging Technologies division, based in Plymouth, Minn., manufactures and markets high-performance display monitors for medical imaging, document imaging, radar, and industrial applications. Nortech Systems is traded on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol NSYS. -0- Fax-On-Demand Information: To receive this press release or other Nortech Systems company information by fax, call Nortech Systems' free "Fax On Demand" service toll-free at 1-888-286- 8106 and follow the easy, step-by-step instructions. To receive the most recent press release, press 1. For an index of all available information, press 2. If you already have an index and wish to place an order, press 3 -0- Note: Nortech Systems, Inc.(Nasdaq:NSYS) announces a conference call to be held at 4:00 p.m. CST on Thursday, November 13, 1997, to discuss third quarter results. Anyone interested in participating in the conference call can dial 1-800-369-3306 (Passcode "Third Quarter Results"). CONTACT: Nortech Systems, Inc., Minneapolis Quent Finkelson, 612/473-4102 or Brookside Communications Group, Minneapolis Warren Djerf, 612/920-3908 |
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