Scott to buy BladeStop assets

Stuart McLauchlan.
Stuart McLauchlan.
Dunedin company Scott Technology has confirmed it will buy the business assets of BladeStop Pty, in Australia, for an upfront payment of $A6million ($NZ6.4million).

The vendors will share in BladeStop earnings for an agreed period.

Scott chairman Stuart McLauchlan said in a statement the purchase price was structured to retain knowledge of the technology within the Scott business and to align the interests of both the vendors and Scott.

Scott's Australian subsidiary, Scott Automation & Robotics Pty, manufactured and sold the BladeStop technology under licence and would be the Scott entity which acquired the company's business assets.

BladeStop bandsaw safety technology was used in the meat-processing industry and it would sit alongside Scott's expanding suite of meat-processing applications, which focused on improving safety, efficiency and yield, Mr McLauchlan said.

BladeStop was designed to reduce the risks of serious injury by mechanically stopping the bandsaw blade when the unit sensed a person had come in contact with the blade.

Final settlement would take place after the vendor fulfilled certain preconditions of sale and was expected to be completed within the next two weeks, he said.

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