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Optelecom revamps Paragon AV operating unit

Posted: 11 Jun 2002 ?? ?Print Version ?Bookmark and Share

Keywords:Paragon AV? copper-wire? fiber-optic?

Optelecom Inc. is restructuring its Paragon AV operating unit in an effort to reduce operating costs, expand product offerings and integrate the unit into the company's global sales and marketing efforts.

Optelecom will consolidate Paragon's North American sales initiative into its domestic operations. In addition to the traditional copper-wire product line, Paragon will begin to support the full range of Optelecom's fiber-optic product line in Europe, Middle East and Africa. The revamped unit will continue to be led by its current Managing Director, Michael Weight.

James Armstrong, Optelecom's VP of Finance, said, "This is part of our plan to establish and maintain solid business practices throughout the company. We're doing so by streamlining our sales efforts, controlling costs, and holding people accountable for present and future profitability. We expect to incur a small charge in our second fiscal quarter ending June 30, 2002, for changes in Paragon's operations."

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