Scott Technology agrees to buy Alvey Group to speed up expansion

Tue, 20 Feb 2018

By Tina Morrison Feb. 21 (BusinessDesk) - Scott Technology has agreed to buy European industrial automation specialist Alvey Group for 12.1 million euro, speeding up its expansion drive and access to international markets. Dunedin-based Scott has completed due diligence and is finalising the sale and purchase agreement with a target acquisition date of April 4, it said in a statement. The purchase would be funded through its cash reserves, which stood at $26.7 million as of August 2017, and is expected to have a positive impact on earning...

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