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

 

Scott Technology conditionally agrees to buy Transbotics

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.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

SMC Expert Reaction: Record Dry Spells And Effects On Forests

With no rain forecast before Sunday, Auckland is about to break a record for the city's longest dry spell. Niwa says Auckland is likely to hit 40 consecutive days without rain this weekend . The upper North Island is seeing severe meterological ... More>>

ALSO:

Reserve Bank: Official Cash Rate Remains At 1.0 Percent

The Monetary Policy Committee has decided to keep the Official Cash Rate (OCR) at 1.0 percent. Employment is at or slightly above its maximum sustainable level while consumer price inflation is close to the 2 percent mid-point of our target range. ... More>>

ALSO:

Research: Climate Change Throws Tree Seeding Out Of Sync – New Study

Climate change is negatively affecting tree reproduction by throwing seed production systems out of synchronisation, according to a new international study co-authored by a University of Canterbury scientist. Many tree species worldwide produce large ... More>>

ALSO:


Science Media Centre: Novel Coronavirus Detected In China – Expert Reaction

The virus was detected after more than 40 people were hospitalised with pneumonia in Wuhan City, China and the outbreak traced to a large animal and seafood market. The Centers for Disease Control and Prevention reports that person-to-person transmission ... More>>

ALSO:

Science Media Centre: Flooding could release toxic gas – Expert Reaction

A chemical substance known as ouvea premix stored at an old paper mill in Mataura could release toxic ammonia gas if it comes in contact with water.More>>

ALSO: