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Tahia & Zeus Invest In Fusion Electronics


Tahia & Zeus Invest In Fusion Electronics

February 9 2006, Auckland, New Zealand: Fusion Electronics Ltd, the New Zealand-based Consumer Audio and Electronics Company, announced today that Tahia Investments and Zeus Management Group have made a significant investment in the company.

Fusion Electronics was established in 1998 in West Auckland, New Zealand by Kurt McNall who was later joined by brother Stuart and father Colin. The company has achieved rapid global expansion in recent years, with particularly strong sales coming from the USA and UK markets, and inroads made into the Middle East, South America and Russia.

Fusion will use the investment capital to fund the rollout of new product lines as well as further expansion into new territories.

“This injection of fresh capital will enable us to expand our product range, deploy new marketing strategies, and enter new markets.” Said Fusion co-founder Stuart McNall, “And the management experience that comes with the investment package will help us to reach new levels of business performance.”

Nick Maire, Director of Tahia Investments, the investment vehicle of Navman founder Peter Maire, says Fusion has strong prospects for growth. Peter Maire completed the sale of Navman to US based Brunswick Corporation in 2005.

”Many NZ tech companies spend all their funds on the development of a great idea or product but leave little to actually take it to the world. Yet from its inception, Fusion’s focus has been about building a distinctly different brand, great product, and taking it to the world” Nick said.

“Fusion has a design led, global mentality” said Peter Maire. “Kurt and Stuart have done an exceptional job in building Fusion into a high performing brand, first in New Zealand and now around the world. The company reminds me of Navman when it was growing fast. There are many learnings from our experiences that we can apply to Fusion’s business. We’re looking forward to being a major part of what will be a very exciting future.”

Zeus Capital’s Andrew Clements has been appointed as Chairman of Fusion Electronics Ltd as part of the capital placement. Mr Clements is director of a number of listed and private companies including Ryman Healthcare Limited, New Zealand Experience Limited, TVD Holdings Ltd, and Orion Corporation Limited. “Fusion has a fantastic brand, a passionate management team and is poised for considerable growth” said Mr Clements. “I’m delighted to be playing a role in this exciting new chapter of Fusion’s history.”

ENDS

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