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The latest announcement is out from Scales Corp. Ltd. ( (NZ:SCL) ).
Scales Corporation has moved to reassure investors after Dutch authorities launched an investigation into Esro Food Group, the Netherlands-based company that is its 50% joint-venture partner in Esro Pet Food. The agribusiness group stressed that Esro Pet Food is legally and operationally separate from Esro Food Group, sells exclusively into the pet food market, and is not included in the current probe.
According to Scales, Esro Pet Food operates from distinct premises with its own licences and permits, and its business activities continue without disruption. By clarifying the separation between the entities, Scales aims to limit concerns about regulatory or operational fallout from the Dutch investigation for its pet food joint venture and its wider agribusiness portfolio.
More about Scales Corp. Ltd.
Scales Corporation is a diversified agribusiness investor with three operating divisions: Global Proteins, Horticulture and Logistics. Founded in 1897 as a shipping business by George Scales, the company now has operations across New Zealand, Australia, the United States and Europe, giving it broad international exposure across food and logistics markets.
Average Trading Volume: 108,427
Technical Sentiment Signal: Buy
Current Market Cap: N$884.6M
Find detailed analytics on SCL stock on TipRanks’ Stock Analysis page.