Scott Technology may raise capital after 3rd purchase in 18 months

Scott Technology may raise capital after 3rd purchase in 18 months
By Suze Metherell Dec. 4 (BusinessDesk) - Scott Technology, the industrial automation firm, has bought Australian business Machinery Automation and Robotics for A$13 million via bank debt, and said it raise new capital to reduce borrowings. The Dunedin-based company will fund the purchase of the industrial automation firm through bank borrowings with MAR expected to add to earnings from day one, it said in a statement. This is Scott Technology's third acquisition in 18 months, after buying Melbourne-based Applied Sorting Technologies (AST...