AQL goes organic

Friday 8th June 2001

Former salmon farmer and Chinese aquarium operator AQL Holdings is going organic. It will pay $275,000 in cash and issue 1950 million shares as total payment of $5.15 million for Thames-based Organic Interceptor Products, which makes organic alternatives to synthetic chemical products for agriculture, home and industry.

The company, which will be renamed Certified Organics, said it owned the world's first patented certified organic weed controller, and its products control weeds, moss and lichen.

The company was founded by Rodney and Stuart Innes and will be run by Dr Earl Stevens, a biochemist, company executive and chairman of Wood Hardening Technologies, based at the Forest Research Institute in Rotorua.

AQL shareholders will decide on the transaction at a special meeting next month. AQL shares last traded at 2c.

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