Scott Technology announces strategic review

GENERAL

Thu, Jun 15 2023 08:30 am

SCOTT TECHNOLOGY ANNOUNCES STRATEGIC REVIEW

Auckland, New Zealand: Scott Technology Limited (NZX: SCT) advises that after discussions with majority shareholder JBS (which owns 53.05% of the Scott shares), it intends to undertake a strategic review of its ownership structure, with a view to exploring options to maximise value for all shareholders. Scott has engaged Macquarie Capital as financial adviser to assist with the strategic review.

Scott delivers smart automation and robotic solutions that transform industries by making businesses safer, more productive, and more efficient. Its diverse capability makes Scott the first choice for many of the world’s leading brands. Scott has design and build operations across New Zealand, Australia, China, Europe, and America and is backed by over 100 years of engineering excellence.

As the review progresses, Scott remains committed to continuing to grow under its Scott 2025 strategy. The strategic review is expected to take several months, and there is no certainty that any transaction will result.

No decisions will be made regarding any potential transaction or other outcome until the completion of the process.

ENDS