Giltrap employs 80 staff in New Zealand and Australia.
Both companies have a history of developing and innovating in agricultural manufacturing, and their consolidation will benefit farmers and the wider community, says Giltrap Engineering managing director Craig Mulgrew.
“We have proven we can compete successfully on the world stage in developing products that suit a global market. This move positions us really well for the future by guaranteeing jobs in Otorohanga and potentially providing further jobs and growth in the future.”
Giltrap has also bought the Duncan Ag land and buildings in Timaru and is guaranteeing job security for Duncan Ag employees.
Mulgrew says the current economic climate offers opportunities for consolidation in agricultural machinery, and Giltrap is keen to grow its footprint in NZ and Australia and elsewhere.
“You’d be hard pressed to find two companies that could mesh together better, with a similar growth trajectory and sharing a common dealer network,” Mulgrew said.
“A big part of the deal was to undertake to keep the Duncan Ag business based in Timaru. This gives us service centres for the business in the North and South Islands and a greater ability to service the market.”
Clough Agriculture chairman Don McFarlane says the two business are a great fit, both bringing strong brands and product lines that complement each other perfectly.
“This is an ideal marriage of companies strongly involved in exports, with very good growth opportunities in bringing the two together and achieving the synergies this delivers.”
McFarlane says the most important thing, from the board’s perspective, was that current employment continue.
“When regional companies merge or are purchased, often there are losses to the region. In this case, it’s very positive.
“We have a company that is committed to growth and maintaining a strong business and employment in Canterbury.
