History of Nortek
During the period 1996-1999, Nortek and SonTek operated under a mutual agreement whereby Nortek did business primarily in Europe and Asia and SonTek did business primarily in North and South America. Today, there is no formal or informal relationship between the two companies, nor are there any common elements in the respective hardware and software. Nortek operates in all countries but development and manufacturing is still based in Norway. The company has six international subsidiaries:
- NortekUSA (1999)
- Nortek b.v. (2002 - formerly Qmetrix)
- NortekUK (2003)
- NortekChina (2003)
- NortekMed (2008)
- NortekScientific (2008)
These provide sales, support, and services. The organization has about 60 full time employees and more than 15 have advanced degrees.
The hardware, firmware, and software that forms the basis for the various product lines have been developed by engineers still employed by the company. We expect this situation to continue, although we see an increasing trend also in development to outsource development tasks that are better and faster done by external consultants.
Since the start, Nortek has enjoyed an annual revenue growth of 20-25% per year. The annual revenue of Nortek AS for the first time hit US$ 10 mill in 2006.