christopher-ohio
Active member
This was formally announced today 
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WOW-Minelab has gone the way of Fisher-SOLD!
- Thread starter christopher-ohio
- Start date
Elevatorguy
Member
[quote SNOWY]Where did you get that info from ???
[/quote]
http://www.codan.com.au/Portals/0/investorpubs/1.%20Acquisition%20Announcement%20.pdf
[/quote]http://www.codan.com.au/Portals/0/investorpubs/1.%20Acquisition%20Announcement%20.pdf
pat (chicago)
Member
http://www.abc.net.au/news/stories/2008/02/15/2163624.htm?section=australia
John - Maryland
Member
SEE: http://www.codan.com.au/Portals/0/investorpubs/5.%20Minelab%20Overview.pdf
Big Fang Coin Biter
New member
I was wondering if Bounty Hunter will keep making detectors or if they will now make "Bounty Hunter" Fishers. It sort of looks like they are already doing that. For Fisher and ML all we can do is hope for the best!
HH - BF
HH - BF
migolddigger
New member
I was in Las Vegas last Wednesday, So I stopped by to see the folks at Mine lab. Not a word was said about the situation. I honestly believe it's a good marriage between these two company's. With the economy in such bad shape, people are not spending allot of $ on recreational things. To further give you food for thought, (Pun intended) I was in Las Vegas (the lowest unemployment place in the country) and the food service department at MGM just laid off 60 of its workers. I live in Michigan where the highest unemployment rate in the country is. It's built around the Auto Industry's big 3. GM wants to buy out 75,000 factory jobs here.Recession is on us!!!. I think Mine lab is just smart enough to see the writing on the wall and bring in another financial backer.
IMHO it's a good move. It just solidifies there place as a leader in technology for metal detectors for years to come .
I wish everyone well and I look forward to reading your comments on this.
Tom
IMHO it's a good move. It just solidifies there place as a leader in technology for metal detectors for years to come .
I wish everyone well and I look forward to reading your comments on this.
Tom
Perhaps they didn't say a word about it because they were not aware of it. No dealers were aware of it. If it were not from the new's clipping, I doubt if we would of learned of for some time.
It was not them in need of another financial backer, they sold the company outright. Bruce Candy the chief engineer was one of the main owners of Minelab, he sold it also. One can only wonder.
Rissa
It was not them in need of another financial backer, they sold the company outright. Bruce Candy the chief engineer was one of the main owners of Minelab, he sold it also. One can only wonder.
Rissa
Company's are bought & sold all the time. They saw a chance to make some big money, and sold out. Don't forget, over there in OZ land the government helps financially, so company's won't leave the country. Lot's of guarantees given here in order to get that much money for the company, even if it was Au. dollars.
Let's all wish them good luck.
Rissa
Let's all wish them good luck.
Rissa
Hard Nosed Dave
New member
I agree with you.
I do hear and read that things are pretty tough with the economy in the USA. It's not a nice feeling to hear that things are tough ANYWHERE in the world. We've always looked to the green back as our almighty standard.......and still do. In Australia it's a booming economy and we have RECORD UNEMPLOYMENT. Lowest its' been since 1974 we are told. How long will it last?
Don't know.
We are being told for the next 20 odd years. It's our resources that are in such high demand. We've still some left, maybe a whole lot left.
It's Minelab Australia that has sold to another private Australian company and maybe because it makes good sense to sell it:
1: for it's price
2: To a company that is a leader in it's field.
You can be pretty certain that Minelab were approached by this company for it's outstanding technology. Doesn't seem like a bail out or fire sale, so it's probably just a shrewd decision by it's owner who has not floated Minelab on any stock exchange. It's a private company that has sold up NOT out. Both companies have a long history of successful in roads into industry with Codan starting in South Australia back in 1959.Both companies are successful and recognized as leaders in their fields who have branch out over the globe. That's really good news.
Has been very successful because it uses clever enviable technology and good business practices that seem to be some what questionable by some who just don't understand and think they know better.
Over here the attempt to bring down those who are up so high, is an affliction we call the "tall poppy" syndrome. A syndrome that sees someone who will always try and cut down the poppies that are taller than the others and usually themselves.
They just can't stand to see them being over shadowed and some others grow above the rest.
Maybe it's just some level of peaniss envy.
I don't know .
What ever happens will happen and I have no criticism to make about what a business and it's owners who decide to do with what they have worked hard to build up and sell off for better or for worse. The best wish for the new buyer that may just give us( given the nature of THEIR business) a more advanced and maybe improved technology....if they can be bothered with the public consumer market of course.
GOOD ON THEM for the hard work.
I too wish everyone well and look forward to reading your comments on this.
David E Di Prospero, Perth Western Australia.
I do hear and read that things are pretty tough with the economy in the USA. It's not a nice feeling to hear that things are tough ANYWHERE in the world. We've always looked to the green back as our almighty standard.......and still do. In Australia it's a booming economy and we have RECORD UNEMPLOYMENT. Lowest its' been since 1974 we are told. How long will it last?
Don't know. We are being told for the next 20 odd years. It's our resources that are in such high demand. We've still some left, maybe a whole lot left.
It's Minelab Australia that has sold to another private Australian company and maybe because it makes good sense to sell it:
1: for it's price
2: To a company that is a leader in it's field.
You can be pretty certain that Minelab were approached by this company for it's outstanding technology. Doesn't seem like a bail out or fire sale, so it's probably just a shrewd decision by it's owner who has not floated Minelab on any stock exchange. It's a private company that has sold up NOT out. Both companies have a long history of successful in roads into industry with Codan starting in South Australia back in 1959.Both companies are successful and recognized as leaders in their fields who have branch out over the globe. That's really good news.
Has been very successful because it uses clever enviable technology and good business practices that seem to be some what questionable by some who just don't understand and think they know better.
Over here the attempt to bring down those who are up so high, is an affliction we call the "tall poppy" syndrome. A syndrome that sees someone who will always try and cut down the poppies that are taller than the others and usually themselves.
They just can't stand to see them being over shadowed and some others grow above the rest.
Maybe it's just some level of peaniss envy.
I don't know .
What ever happens will happen and I have no criticism to make about what a business and it's owners who decide to do with what they have worked hard to build up and sell off for better or for worse. The best wish for the new buyer that may just give us( given the nature of THEIR business) a more advanced and maybe improved technology....if they can be bothered with the public consumer market of course.
GOOD ON THEM for the hard work.
I too wish everyone well and look forward to reading your comments on this.
David E Di Prospero, Perth Western Australia.
Hello Dave, I can't help thinking that these two high tech companies coming together will result in some exciting possibilities.
Once you get over the initial impact of the news, things become clearer...
I see Codan wish to share the skills of the two companies, and further develop each others products.
Codan were impressed with Minelabs marketing strategies too it seems.
They appear to be very positive about the future, ~ I'm feeling pretty good about what's happened.
Time will tell, eh !
Once you get over the initial impact of the news, things become clearer...
I see Codan wish to share the skills of the two companies, and further develop each others products.
Codan were impressed with Minelabs marketing strategies too it seems.
They appear to be very positive about the future, ~ I'm feeling pretty good about what's happened.
Time will tell, eh !
James Edison
New member
This happens all the time, when companies see big money,they straight away sell off...
but it is a smart move i think, grab money and run ...haha..
but it is a smart move i think, grab money and run ...haha..