Today, Norsat International Inc. announced that it has created a new division called Norsat Capital to provide customers and potential clients the option of leasing or renting the companyâ€™s equipment. According to the press release, this initiative is a direct result of the companyâ€™s turnaround over the past couple of years. Because of its improved capital structure, the company can now afford to offer more financing options on its products.
Dr. Amiee Chan, President and CEO of Norsat, stated, â€œOur balance sheet has immensely improved over the last few quarters and as a result, weâ€™ve established a financial unit so that our sales force is able to offer financing options to our clients and future customers. We are constantly seeking new opportunities to enable end users to obtain Norsatâ€™s renowned equipment and products. It is our belief that with the global economic slowdown, the rental/leasing option will enable us to offer such products to more customers. Our products are highly ruggedized with long life expectancies, factors which relate well with the leasing option.â€