MLA Sells VIAscan to SASTEK

SYDNEY - Apr 23/04 - SNS -- Meat and Livestock Australia (MLA) sold its VIAscan technology to Brisbane-based company SASTEK.

VIAscan is the Australian-developed video imaging analysis technology designed to deliver more objective feedback on carcass yields. The sale of VIAscan and VQA to SASTEK will include a payment of around $500,000 to MLA, along with a percentage of sales should revenues exceed an agreed threshold.

MLA Managing Director Mark Spurr said the sale to SASTEK would enhance the potential of the VIAscan technology.

"SASTEK has over 24 years experience in providing technological solutions to the processing sector, so we anticipate the uptake of the VIAscan technology to continue under their ownership," Spurr said.

"MLA's intention has always been to commercialize the VIAscan technology and place the administration, marketing and development of VIAscan in the hands of a commercial organization that has the required infrastructure and expertise to ensure uptake and utilization by industry - SASTEK fits this criteria."

SASTEK Chief Executive Officer Keith Roskam said VIAscan would form a very good strategic fit with SASTEK's existing business.

"SASTEK is an Australian owned company and we have strong links to the meat processing sector, not only in Australia but in New Zealand as well," Roskam said.

"We are committed to meeting the needs of the existing customer base and promoting the technology into the future.

"SASTEK has a history of innovation in the area of meat processing technology and we look forward to increasing industry uptake and enhancing the current VIAscan technology both within Australia and internationally. This is a positive move for our company and for VIAscan."

VIAscan's marketing arm, VIAscan Quality Assessment (VQA) has also been purchased by SASTEK.

Expressions of interest for the purchase of the VIAscan technology and VQA were sought in November last year after ownership reverted to MLA.