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Fourth Acquisition In A Year For Donaghys

27 October 2006

Fourth Acquisition In A Year For Donaghys

One of New Zealand’s largest rural manufacturers, Donaghys Industries, has made its fourth acquisition in a year

Donaghys announced today it had bought Christchurch-based Polynet Products bailnet business. New Zealand’s rural industry is a hungry consumer of bailnet with annual usage of over 77 million metres a year for hay and silage.

Managing director Jeremy Silva says the acquisition nicely rounds out the range of bailnet products Donaghys offers the rural sector and connects them to additional customers.

“The acquisition provides Donaghys with exclusive distribution rights to Novatex bailnet in New Zealand. Novatex bailnet is recognised as the global leader in premium round bale netting. The Novatex range have been specially developed for the New Zealand environment with extra UV stabilization for the harsh local conditions,” said Mr Silva.

“Increasing numbers of farmers are moving away from traditional twine to bailnet because it increases balers’ operating speed. This means less time and less fuel consumption.”

Over the last year Donaghys has been aggressively buying Australasian applied technology firms including Southern Ocean Ropes, Jenkins Biolabs and National Ropes.

The Novatex bailnet will be supplied exclusively through rural merchants with technical support provided by Donaghys 15 Territory Managers. Polynet will continue to trade its specialist horticultural products.

“We’re currently eyeing a number of other acquisitions and hope to make an announcement early in 2007,” Mr Silva said.

Started in Dunedin in 1876, Donaghys Industries is New Zealand’s oldest rural manufacturer. It has representation in Australia, Europe and North America as well as Auckland, Christchurch, Dunedin and Invercargill.

ENDS

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