Tru-Test buys milk storage unit for $73 mln from NDA

Sun, 03 Feb 2013

By Paul McBeth Feb. 4 (BusinessDesk) - Tru-Test Group, the agri-tech group that ranked 16th on the TIN100 survey of the country's top research and technology firms, has bought milk storage and refrigeration firm Dairy Technology Services from local manufacturer NDA Group for $73 million. The Auckland-based company bought the company after raising $5.4 million in a two-for-nine renounceable rights issue at 96 cents apiece, which it said would be used to help fund the DTS acquisition. Though Tru-Test today said it wouldn't disclose the value o...

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