Scott Technology conditionally agrees to buy US-based AGV manufacturer Transbotics
By Rebecca Howard
May 31 (BusinessDesk) - Scott Technology has entered a conditional agreement to buy Transbotics, a US-based automated guided vehicle manufacturer. No price was disclosed.
The deal will add 30 staff to the 700 it has globally. The effective completion date is expected to be June 1. The deal is subject to conditions, including Transbotics shareholder approval.
Dunedin-based Scott Technology said the deal "will achieve our goal of building a complete end-to-end offering for the overall production process from raw material receipt to final distribution."
Managing director Chris Hopkins was not immediately available for comment, but Scott Technology said its recent purchase of European industrial automation specialist Alvey Group was the first step toward this goal, "however an AGV business such as Transbotics was also needed to complement these back-end logistic capabilities."
The company also said it has recently carried out projects that required the integration of AGV systems from third parties. "We will now be able to meet this need in-house while removing the risk and cost associated with outsourcing," it said. Also, Transbotics will provide a strong platform to launch its existing materials handling and logistics products into the North American market.
Brazilian meat processor JBS owns 50.7 percent of Scott Technology.
Scott Technology shares last traded up 1.5 percent at $3.40 and have fallen 5.9 percent so far this year.