NetTest completes restructure
16 September 2003 Copenhagen, Denmark Lightwave - Test systems manufacturer NetTest announced that the restructuring of the company has been successfully completed.
16 September 2003 Copenhagen, Denmark Lightwave - Test systems manufacturer NetTest announced that the restructuring of the company has been successfully completed. Danish investment company Axcel acquired NetTest from GN Great Nordic Group on December 31, 2002. At the time of the acquisition, NetTest was operating with loss due to a severe reduction in the demand for fiber-optic test equipment and optical components. NetTest has returned to a profitable position with a turnover of $259 million DKK and a net result of $12 million DKK in the first six months of 2003.
NetTest has returned to a positive financial position through a realignment of its products with market trends which resulted in the divesture of business units involved in the development and sales of equipment to manufacturers of fiber and cables for optical networks. Today, three business units "Instruments," "Systems," and "Networks" are focused on providing wireless and wireline telecommunications providers with the test, measurement and monitoring solutions they need to optimize their existing networks. Within each of the business units, business practices have been streamlined, improving efficiency and profitability. This has enabled NetTest to gain additional funds for research and development and customer support, thus enhancing its product line and maintaining top-quality international service.
Since its restructure, NetTest has experienced renewed customer confidence and expansion into new territories. Sales of its MasterQuest wireless monitoring solution continue to attract new customers in the U.S., Russia, and South America. Sales of the CMA5000 multi-layer test platform continue to gain acceptance with NetTest customers. In the operator's quest for optimization of existing mobile networks, Compass, the expert optimization tool on top of the high performance InterQuest Probe has proven to be a valuable solution. This increased demand has resulted in positive expectations for the newly released Compass UMTS solution.
NetTest has recently received a number of major orders, which bodes very well for the future of all areas of the company, among them an order from Saudi Telecom for the provision of a QuestFiber Remote Fiber Test System, and orders from Telia Mobile Denmark and Russian Operator Vimpelcom for the MasterQuest solution.
To strengthen NetTest's strategic efforts even further, Agner N. Mark has joined the Board of Directors of NetTest A/S and NetTest Holding A/S. Agner N. Mark brings a strong background with management experience from the global IT and telecommunications industries. Agner N. Mark holds a position of executive chairman of MACH, the Luxemburg-based clearing house for GSM roaming. Prior to that, Agner N. Mark held chief executive officer positions in Dan Net A/S, among others.
"I am pleased with the progress that our chief executive officer, Allan J. Vestergaard, and all the employees have achieved during the first period of the new ownership, and I am delighted to welcome Agner N. Mark to the board," says Kaj Juul-Pedersen, chairman of the Board.