Canadian
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| Founded in 1982,
Beamscope is a leading distributor of video and
electronic equipment for such manufacturers as Sony,
Nintendo, Sega and Bell ExpressVu. It supplies inventory
to over 7000 retailers across Canada. It also partcipates
in the South American market in partnership with Unisel
Holdings. It has also entered the new economy through a 15% interest in Ironside Technologies, a business-to-business Internet software solutions provider, and its wholly owned subsidiary, Flex Logistics. Flex Logistics is a third-party logistics company providing e-commerce management solutions including inventory control, order fulfillment, warehouse managment and shipping. Beamscope faced declining sales and increasing debt through the first half of 2000 and embarked on an extensive cost-cutting program which included closing its Vancouver distribution center, downsizing staff, and centralizing activities in Toronto. In August 2000 it sold its money-losing computer hardware and software division to Ingram Micro for $20 million. This was followed up with the sale of its video game software division to Minnesota-based Navarre Inc. leaving the company to focus on entertainment hardware and satellite television systems. Its Flex Logistics subsidiary scored a major coup in August forging a strategic alliance with Canada's leading web portal, Canoe, to bring its e-commerce division Shop.Canoe online. With re-organization well under way and its e-business interests prospering, the company's stock started a recovery in early October 2000. Shares Outstanding: 11,059,330
Address: Phone:
905-763-3000 This page first posted: Oct. 8, 2000 |
Stock Symbol: BSP (TSE) Profile News: Forums: |