January 11, 2007

Australian cattle firm merges with New Zealand sheep firm
 

Australian cattle technology company Genetic Solutions has merged with New Zealand sheep technology company Catapult to form a combined DNA technology company Catapult Genetics.

Catapult Genetics would now bring together DNA marker research, development and commercialisation for both sheep and cattle.

Shareholders in the merged company are Meat & Wool New Zealand, AgResearch, CSIRO and Nanyang Innovation Fund, managed by Kestrel Capital and the founders of Genetic Solutions Jay Hetzel and Gerard Davis.

Genetic Solutions chairman Mel Bridges said the merger combined leading research and development capacity which would enable the new company to bring more technologies to the two largest livestock industries in Australasia.

Jeff Grant, chairman of both Catapult and Meat & Wool New Zealand welcomed the merger. AgResearch chairman Rick Christie said DNA technologies were already adding considerable value and transforming decision making in breeding and in livestock value chains.

Merging the two companies would deliver more DNA technologies and ensure that a strong commercially focused business emerges from the years of research and development investment, said Grant.