Scales sells bulk liquid storage unit for $20M, building war chest for acquisitions

Mon, 13 Aug 2018

By Paul McBeth Aug. 13 (BusinessDesk) - Scales Corp will sell its bulk liquid storage unit to Taranaki's SBT Group for $20 million as the agriculture group builds up a war chest to seek out new acquisitions. Christchurch-based Scales said the Liqueo Bulk Storage division reported earnings before interest, tax, depreciation and amortisation of $1.5 million in calendar 2017. While it had "grown well", the operation was "sub-scale" for the wider group and didn't closely match its storage business. SBT Group has interests in rendering and...

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