LIC buys Salvus stake in Tru-Test
30 November 2006Farm improvement company, LIC, has purchased a share of agri-tech company, Tru-Test.
LIC chief executive Mark Dewdney said LIC had a long association with Tru-Test through the provision of milk meters and working together on herd management innovations.
"This investment complements our commitment to agri-tech and farm automation innovations."
LIC bought 13 per cent of Tru-Test at $2 per share, from listed company Salvus Strategic Investments.
Tru-Test is a private company with annual revenue of roughly $100 million from the development and supply of agritech electronic and software products.
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