Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Scott Technology agrees to buy Applied Sorting Technologies

Scott Technology agrees to buy Applied Sorting Technologies for $1.3M

By Jonathan Underhill

June 16 (BusinessDesk) - Scott Technology, the industrial automation firm, is to make its second acquisition this year by agreeing to buy Melbourne-based Applied Sorting Technologies (AST) for $1.3 million to gain inspection technologies with applications for the meat and mining industries.

The purchase would follow the acquisition in May of Ohio-based RobotWorx for up to US$7.7 million in cash and shares, a company that programmes and fits-out industrial robots so they can perform automated manufacturing.

AST provides Scott with "skills and expertise in advanced sensing and imaging technologies including X-ray, DEXA and CT scanning," the company said in a statement.

The purchase price includes an amount for the net tangible assets and an amount for the transfer of intangible assets, subject to earn-out over the next
18 months, Scott said, adding that the acquisition will add to earnings immediately.

In March, the Dunedin manufacturer reported a 63 percent slide in first-half profit as the strong kiwi dollar eroded export earnings and stiff competition pushed down margins.

At the time, the company said it had evaluated a number of potential acquisitions in the period, rejecting some while others remained under consideration.

Shares of Scott were unchanged at $1.55, and have dropped 18 percent this year.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Warming: Warming Signs From State Of Climate Report

Climate data from air, land, sea and ice in 2013 'reflect trends of a warming planet' -- says the latest State of the Climate report, launched by U.S. and New Zealand scientists. More>>

ALSO:

Scoop Business: Embrace Falling Home Affordability, Says NZIER

Despair over the inability to afford a house is misplaced and should be embraced as an opportunity to invest in more wealth-creating activity, says the principal economist at the New Zealand Institute of Economic Research, Shamubeel Eaqub. More>>

Productivity Commission: NZ Regulation Not Keeping Pace

New Zealand regulators often have to work with out-of-date legislation, quality checks are under strain, and regulatory workers need better training and development. More>>

ALSO:

Callaghan Innovation: Investment To Help Deepen Innovation Reporting

Callaghan Innovation, the government’s high tech HQ for Kiwi business, is to help deepen New Zealand media coverage of the commercialisation of innovation through an arms-length partnership with independent business news service BusinessDesk. More>>

ALSO:

Tax Credits, Grants: Greens $1Bn R&D Plan

In the Party’s headline economic announcement, the Greens have launched their plan to build a smarter, more innovative economy which has as its centrepiece an additional $1 billion of government investment in research and development (R&D) above current spend, including tax breaks for business. More>>

ALSO:

Inflation: CPI Increases 0.3 Percent In June Quarter

The consumers price index (CPI) rose 0.3 percent in the June 2014 quarter, Statistics New Zealand said today. This follows rises of 0.3 percent the March quarter and 0.1 percent in the December 2013 quarter. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news