Garmin Completes Acquisition Of Distributor In Finland

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by Staff Writers
Cayman Islands (SPX) Jul 01, 2008
Garmin has announced that it has completed the acquisition of NavCor Oy, the distributor of Garmin's automotive, outdoor recreation, fitness and marine products in Finland.

The company will be renamed Garmin Suomi Oy and will retain its management, sales, marketing and supporting staff, and will continue operations at its current headquarters and warehouse facility located in Lohja, Finland.

Dr. Min Kao, chairman and CEO of Garmin Ltd., said, "We are very pleased to complete this acquisition and to be able to integrate the NavCor team into the Garmin organization. We anticipate the completion of this acquisition will enable us to expand our ability to support the key retail channels for our products in Finland."

Tony Malmstrom, managing director of NavCor, said, "We look forward to achieving further growth of Garmin's sales in Finland and to realizing the benefits of full integration into the Garmin team."

Financial terms of the transaction were not released.

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