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  1. #441
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    The $38.6 million would be the minimum JBS would have to pay. Should existing shareholders collectively decline to sell under b) of the offer, and act upon c) with enthusiasm, SCT would have to issue new shares under d), upping the ante for JBS.

  2. #442
    percy
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    The company's balance sheet is in bad shape.
    I doubt shareholders would have had the stomach for the HUGE capital raising that would have been required.
    With 45,473,890 shares on issue,they would have been up in arms if SCT had announced a 1 for 1 share issue at 85cents
    The company stays afloat,with hopefully a controlling shareholder who can show financial leadership.
    Last edited by percy; 20-08-2015 at 04:58 PM.

  3. #443
    Senior Member Marilyn Munroe's Avatar
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    JBS are romoured to be kicking the tyres of Siver Fern Farms.

    I wonder when doing investigations of SFF they were entranced by the SFF-SCT automated meat processing and decided to go large on automated meat processing also scooping up as much of the IP as they could get their hands on.

    Boop boop de do
    Marilyn

  4. #444
    percy
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    Quote Originally Posted by Marilyn Munroe View Post
    JBS are romoured to be kicking the tyres of Siver Fern Farms.

    I wonder when doing investigations of SFF they were entranced by the SFF-SCT automated meat processing and decided to go large on automated meat processing also scooping up as much of the IP as they could get their hands on.

    Boop boop de do
    Marilyn
    I would expect they will find all the tyres are flat.!! lol.

  5. #445
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    JBS definately ARE kicking the tyres of SFF, I fear they are going to get it far too cheaply. (I'm going to get flamed here), but of all the NZ primary production companies which talk about 'value add', they are one of the FEW companies which are actually walk the talk and the ONLY one in the meat sector.

    If JBS were given control they certainly would be showing 'financial leadership' - I would imagine a number of BUs being sold off (HTS etc).

    Same thing would happen to SFF, sadly that would mean going back to the commodity trade...

  6. #446
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    Interesting. $13.9m is chump change for JBS. But most of Scott's products are (currently) orientated towards lamb, and JBS is a primary a beef company, apart from in Australia - which probably already have some Scott lamb units at their plants. Obviously after the know-how, experience etc.

    i dont think they they necessarily came across Scott when doing any work on SFF. Scott has an agent in Brazil, and would have an agent in Brazil for a reason. Plus the Australian lamb connection.

    However, many of the developments are under Robotic Technologies, JV between SFF and Scott, so not sure how that fits.

    As as an aside, JBS would most likely be after SFF's beef business. I would think that most likely trying to flog off the lamb division and them themselves as a beef business. Announcement must be due soon......

  7. #447
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    Yea small fry for JBS, they've been doing a big buy up of major companies over the last few years. SFF themselves would be happy to get rid of their lamb business as at the end of the day their primary focus is beef, I find the Co-Op merger arguements with Alliance silly, as they are two different companies, focused on different protein production, with entirely different strategies. If JBS do put capital into SFF, it may be a bit of an uncomfortable alliance as JBS are known not to be farmer friendly.... Is the SFF trading halt still on?

    Who knows what brought them to Scott, the lamb cut up robots are quite impressive, I imagine there would be a fair bit of work to build a beef centric plant but if there's production gains in it then I'm sure they will make it happen.

    As an aside, how much did the HTS-110 purchase cost them, the Government had put ~$60-80M into that research group over the years....

  8. #448
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    Yes KDB, SFF trading halt still on. Announcement expected within the next week, but don't believe JBS. JBS have been milking it out of Australia in the last year, and as you mention, don't think it would sit comfortably.

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  10. #450
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    As an aside, I know some of the managers up at Macraes mine who have their teams using the RockLabs gear - apparently it's not quite as robust as it should be and the 'automation' can be problematic/unreliable.

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