Saturday, April 20, 2024

OIO okays sale

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Scales Corporation will pursue further investment in agribusinesses now the sale of its Polarcold cold store assets is due to be settled.
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That should happen before May 17 now the sale to United States firm Emergent Cold has been approved by the Overseas Investment Office, chairman Tim Goodacre said.

The $151.4 million sale was announced in early May last year and has been waiting for OIO clearance since then.

Once the sale is completed directors will update the market on earnings guidance for the December 31 year, Goodacre said. 

Scales’ major business is the apple orchardist and exporter Mr Apple. 

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