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Multi Million Dollar Month For Navman Oem

Multi Million Dollar Month For Navman Oem

Navman NZ's Christchurch-based OEM division has just recorded its first $US1million revenue month.

According to Navman OEM executive vice president Mark Bowman, this is expected to double shortly as the OEM business grows.

"The OEM team recently won Navman's biggest single deal worth around $40m (supplying GPS technology to Germany's electronic road toll system) and we have also shipped our first 100,000 modules after only nine months of operation."

Mr Bowman says the meteoric growth of the company's Christchurch division was kick-started by the 2002 acquisition of US company Conexant's GPS business.

"This was a significant move for Navman (reflected in our winning of the HiTech Deal of the Year), making us one of the industry's leading GPS manufacturers,

"It also gave us a global distributor network and a number of new international customers, several of whom are global industry leaders," says Mr Bowman.

Navman's OEM operation employs 28 staff, located in Christchurch, Auckland and California.

About Navman NZ Limited * Navman is a recognised world leader in the design, manufacture and marketing of high reliability GPS products for the marine, personal GPS, fleet management and OEM markets. * It is one of New Zealand's fastest growing companies, employing around 300 people globally in Australia, USA, Europe and its home base in New Zealand. * The company is Trade New Zealand's Supreme Exporter of 2002 as well as New Zealand's Hi- Tech Company of the year.

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