Northstar Electronics, Inc. (OTCQB: NEIK) has announced plans to proceed with its expansion from being an aerospace contract manufacturer to becoming an Original Equipment Manufacturer (OEM) with its own products, the company said.
NEIK made significant headway in the purchase of the worldwide rights to a single engine turbo prop airplane from a major overseas aerospace company. The company´s management anticipates making a deal with the owners of the airplane in short-order.
Northstar Sealand Enterprises, Ltd., (NSEL), a subsidiary of NEIK, has put together a stellar team of professionals to establish themselves as a strong player in the turbo prop aviation world.
Northstar Electronics, Inc. carried out design and manufacturing contracts for various divisions of Lockheed Martin Corporation including LM MS2 (Submarine Command and Control Consoles), LM Canada (Naval Anti-Terrorism System), LM Aeronautics (Parts for P-3 Orion Airplane), and L-3 ( Navy Frigate Command and Control Consoles). Northstar also designed, manufactured, and sold its own sonar-based system to commercial customers. In the past few years, Northstar has moved towards making and selling its own independent systems.