Avigilon (TSX:AVO), a surveillance equipment company with headquarters in Vancouver and a manufacturing plant in Richmond, has announced the expansion of its European sales team to meet the growing needs of that market.
Because the company is based locally, the overseas expansion will lead to money flowing back into the B.C. economy, said Avigilon president and CEO Alexander Fernandes.
“It certainly means increased revenue, and our revenue comes back –is repatriated – in Canada,” Fernandes said.
“It means more jobs in manufacturing here in Richmond and British Columbia, it means more jobs in finance and accounting and support staff.”
Fernandes added that it will also increase skilled labour positions such as engineers and software developers.
Avigilon designs and manufactures high-definition surveillance products and equipment, including software and megapixel cameras.
In addition to its North American facilities, the company has locations in Africa, Latin America, the Middle East and Europe.
Avigilon completed a successful IPO in November. As well, it has just increased its presence in South Africa.
As of press time, Avigilon’s per share price was $4.30, down 0.69%.
Emma Crawford