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Hemisphere GPS Sells Non-Ag Assets
(KNZA )-Hiawatha-based Hemisphere GPS has sold its non-agricultural business assets.
The Canadian subsidiary of Beijing UniStrong Science and Technology Company has purchased the assets for nearly $15 million.
UniStrong markets to China, and products sold to the subsidiary include marine, land survey, construction, mapping and original equipment manufacturer segments.
In a news release, the company also announced it plans to changes its corporate name to AgJunction Inc. subject to approval of shareholders at their 2012 annual meeting in May.
Hemisphere GPS president and CEO Rick Heiniger said the decision to divest their non-agriculture operations reflects their focus on the core platforms necessary to extend their leadership in precision agriculture.
Heiniger said the result is a streamlined business, which can more effectively market opportunities in agriculture.
© Many Signals Communications
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