Pacific Environment (ASX:PEH) has negotiated a management buy-out of its non-core stack emissions measurement business unit for $470,000 in cash.
This reflects and supports the company’s strategic direction as an environmental services and technology company, led by the flagship EnviroSuite software platform.
Proceeds from the transaction will be applied to the on-going technical and commercial development of EnviroSuite 2.0.
The two companies will retain a close working relationship, and Pacific Environment will continue to use the services of this newly formed entity (Assured Monitoring Group Services Pty Ltd) where appropriate.
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