New York-listed General Electric has bought South Island technology firm Commtest, which is part-owned by a subsidiary of South Canterbury Finance, the Timaru-based company that went into receivership last year.
South Canterbury receiver Kerryn Downey of McGrathNicol said he was unable to comment on the sale until a press release was issued.
According to the Companies Office, Hornchurch, a subsidiary of South Canterbury Finance, is a major shareholder of Commtest.
See more at: http://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=10746818
and:
http://www.smartplanet.com/blog/smart-takes/ge-acquires-commtest-expands-industrial-condition-monitoring-portfolio/18663
This blog is updated on a regular basis by representatives of the Condition Monitoring Technical Committee “COMADIT” for the British Institute of Non-Destructive Testing. Send any news items to comobindt@gmail.com - there's no charge!
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