$70.5 million acquisition

Monday, 18 February, 2008


Global communications specialist Codan Limited has announced the proposed $70.5 million acquisition of Australian-based metal detection and electronics business, Minelab Electronics Pty Ltd.

Like Codan, Minelab is an Australian-built, multi-award winning business that has successfully scaled world markets to command global leadership in its key areas of operation.

The acquisition includes all of Minelab’s metal detection technology and businesses, covering global consumer and countermine markets, and the company’s wholly owned subsidiary Parketronics, which provides electronics manufacturing and testing services for Australian manufacturers. Minelab’s specialist Halcro audio equipment operations are not being acquired.

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