Investors in Scott Technology, the industrial robotics firm, have been told its order book remains at a high level, with moves afoot to increase its manufacturing capacity and the number of staff.
Chief executive Chris Hopkins told the annual general meeting in Christchurch that he expected the biggest opportunities to come from the mining and meat processing sectors in the near term, where he said new products are already being commercialised.
The Dunedin-based company completed a scheme of arrangement in April which raked in $41 million of new capital after Brazilian meat processor JBS took a 50.1% majority stake, some existing shareholders sold down, and others took up their entitlements under the associated rights issue. At balance date, the company had $34 million of cash in the bank and no debt.
According to notes published to the NZX, Mr Hopkins told investors that they would look to put more people into local markets.
"Supporting engineering sales and marketing efforts with local staff ensures that we pick up and respond to emerging trends impacting on our customers," he said.