Norsat Becomes Debt Free
By JJ McCoy | June 1, 2007
Norsat International Inc. made a final payment on its $1 million short-term debt, the company announced May 31, marking the first time since 1983 that the company had been debt-free.
"This is a significant milestone in the company’s renewal efforts," Amiee Chan, president and CEO of Norsat, said in a statement. "The pay-down clearly demonstrates our resolve to strengthen our financial foundation on a compressed schedule."