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Scales Corporation welcomes BayWa shareholding
PRESS RELEASE
7th March 2012
Scales Corporation Limited (Scales) welcomes German based BayWa Aktiengesellschaft (BayWa) into the majority shareholding of Turners and Growers Limited (T&G).
Scales has recently purchased a 10.3% shareholding in T&G and is looking forward to working with BayWa as a supportive minority shareholder. In particular Scales wishes to, via Mr Apple its large apple growing and exporter subsidiary, work with T&G's apple business ENZA to improve returns to New Zealand apple growers.
Scales sees BayWa as a large experienced apple and agri-business industry player whose investment into New Zealand via T&G will be positive and beneficial.
ENDS
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