Millstreet Development Corp. has acquired the assets of Spray-Air Canada Ltd. of Carseland, Alta., and the patents of Alida Group Inc. of Spokane, Washington.
Lionel Kambeitz, president and chief executive officer of Millstreet, said in a release the deal gives his Regina-based company the rights to Air Assist technology.
“Air Assist represents the next farm sprayer technology leap. It will allow North American farmers to maximize the effectiveness of farm pesticides they apply and implement a chemical rate reduction strategy on their farm,” he said.
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The exact cost of the deal was not revealed, but it involved the transfer of Millstreet shares valued at 45 cents a share.
Spray-Air reported average sales over the last three years of $3.9 million annually.
The new sprayers will be marketed at Millstreet’s seven Ag Depot locations across Western Canada.
Millstreet also announced that George McCallum, formerly a vice-president of Richardson Greenshields, has joined the company’s investor relations department. He is expected help Millstreet become listed on the Toronto Stock Exchange. It is now listed on the Alberta Stock Exchange.
A quick sale
Saskatoon newsroom
AgrEvo has announced it is sold out of one of its new Liberty Link canola hybrids.
InVigor 2273, a herbicide-resistant variety, was sold out just three months after hitting the market, the company said in a news release.
Limited stocks of InVigor 2153, another Liberty-Link hybrid, are still available.
