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Listed Dunedin company Scott Technology has bought Melbourne sensory technology company Applied Sorting Technologies Pty Ltd (AST) for $1.3 million.
Scott, which manufactures assembly lines and meat robotics and also has numerous mining sector niche markets, announced the acquisition yesterday.
AST products include include a range of X-ray inspection products, and applications for the mining and meat processing sectors, which would complement Scott's current skills and capabilities, Scott chief executive Chris Hopkins said in a statement.
AST is expected to be immediately earnings-positive for Scott. It has contracts for a base workload for the next two years, which can be expanded into the mining and meat processing sectors, Mr Hopkins said.