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COMROD COMMUNICATION <strong>ASA</strong> – LISTING ON THE OSLO STOCK EXCHANGE - introduce the Flat Pack technology for defence power supplies - maximize the synergies between the different divisions - maintain the superior quality and flexibility of products and deliveries 5.5 Business Overview 5.5.1 Principal activities The Company develops and manufactures tactical masts, antennas and antenna systems, power supplies, battery chargers and commercial products. The Company’s main focus is on the defence communication market. Customers within this market segment are highly demanding in terms of technical specifications, delivery precision and functional requirements. A typical project can last for several years, starting with an extensive development and/or a pre-qualification phase. The Company manufactures its products under two brand names, Lerc and Comrod. Both companies have strong international brand names, associated with high-quality and long-lasting products. Operations in Norway (Comrod AS) The Norwegian subsidiary, Comrod AS, is a supplier of antennas, antenna systems and power supplies, mainly for the defence market, but also for other maritime and commercial applications. Operations in France (Lerc SA) The Company’s subsidiary in France, Lerc SA, is a supplier of masts, antennas and industrial products. All products are sold both to the defence segment and to the commercial market. 5.5.2 Product groups The Company’s main product groups are: 1. Antennas and antenna systems 2. Masts 3. Industrial products 4. Power supplies The following sections describe each product group in more detail. 1. Antennas and antenna systems Comrod manufactures antennas for the defence market and for civilian/commercial use. For the defence market, Comrod also supplies sophisticated antenna systems. The manufacturing of antennas and antenna systems takes place in Norway and France. The Company provides advanced technology solutions to meet defence requirements and supplies a comprehensive range of tactical mobile antennas suitable for man-pack, vehicles and transportable remote applications. The product line of antennas for the defence segment includes combined antennas for VHF/GPS, VHF/DECT, VHF/WLAN, UHF/GPS, UHF/DECT and UHF/WLAN. For commercial use the Company supplies marine antennas for a number of different vessels, from deep-sea fishing boats, workboats to cruise and pleasure boats. 29
COMROD COMMUNICATION <strong>ASA</strong> – LISTING ON THE OSLO STOCK EXCHANGE The table below lists the various antenna products manufactured by the Company. Product description antennas: Applications: Comments: HF: 1.5 to 30MHz - Man-pack - Development of new generation - Vehicle wire antennas - Stationary - Traditional - Wire or whip - Commercial shipping VHF: 30 – 88 or 108 MHz - Vehicle - Handheld - Manpack - Stationary - Commercial shipping and light marine UHF: 225 – 512 MHz - Handheld - Vehicle - Station - Commercial shipping and light marine Dual Band and Multi-Band: Center-Fed VHF + GPS End-Fed VHF + GPS 30 – 88 Center-Fed + 2.4GHz 30 – 88 + UHF 225 – 512 MHz 30 – 512 MHz Radio Link antennas - Center-fed - End-fed - Mostly vehicle antennas - Emerging market - Development of new generation whip antennas - Market moving towards Multi- Band - High volume – high pricing - More technology – patents - Higher margins Spare parts - Stable business Radio Beacon - Offshore and commercial shipping - Used for aircraft guidance Civil antennas - Airports - ILS monitoring AIS receiver antenna - Automatic identification system - Monitoring of ships The VHF segment is the main product constituting an estimated 60% of the turnover within the antenna segment. The HF products make up approximately 30% and the UHF products approximately 10% of the turnover within this segment. The defence segment comprise approximately 80% of the Company’s turnover from antennas. The clients include OEMs, defence organisations and commercial vessels. The main customers within the antenna segment are ITT, Harris, Thales and Rhode & Schwarz. FIGURE: ANTENNAS -MANPACK, HANDHELD AND VEHICLE 30
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