July 25, 2007

Australia's Stirling Products buys Progressive Bioactives

Stirling Products, an Australian animal health company has bought Progressive Bioactives Inc, a Prince Edward Island company specializing in bioactive products for animal health.

The acquisition of Progressive Bioactives is an important advancement for both companies, said Calvin London, Stirling CEO and managing director.

Progressive Bioactives can provide Stirling with an immediate revenue stream from sales of their lead product, ProVale, and the opportunity to advance Stirling's R-salbutamol technologies in North America.

Shane Patelakis, president and CEO of Progressive Bioactives, said the two companies are a natural fit.

With Stirling's medicated feed additive products containing R-salbutamol and Progressive Bioactives' natural, non-medicated feed additives based on beta glucan, both have scope to expand each other's markets, he said.