NZ's Scott Technology tracks best day in over 4 months on signing MoU

Scott Technology

30/05/2022 23:49

** Shares of automation engineering firm Scott Technology
 SCT.NZ  rise as much as 6.1% to NZ$2.95, marks best session
since Jan 6, if gains hold
    ** Company says it has signed a non binding memorandum of
understanding (MoU) to deliver its first fully automated
warehousing system for a beef processing facility in Canada
 urn:newsml:reuters.com:*:nNZW4DRRFJ
    ** Adds that the deal entails an estimated value of $35
million
    ** Under MoU, co will design and build a complete end-to-end
material handling solution capable of handling 85,000 cartons
    ** Stock hits highest level since May 23
    ** More than 17,000 shares change hands, compared with the
30-day average volume of about 6,000
    ** Stock has fallen 14.5% this year, as of last close

 

 (Reporting by Jaskiran Singh in Bengaluru; editing by Diane
Craft)
 ((Jaskiran.Singh@thomsonreuters.com;))