Japanese invest big bucks in Allora engineering firm
JAPANESE company Satake has purchased a pioneering Allora silo and engineering business, bringing talks of expansion and employment opportunities to the community.
Denny's Silo and Engineering is a family owned company established in 1956 and is now in the hands of an internationally growing business.
The purchase speaks highly for the region, with international buyers looking at the Southern Downs for quality investments.
The deal provides Satake access to world class bulk handling and storage equipment, further enhancing their capabilities as the leading Asian supplier of rice and grain handling solutions in the world.
The two companies had worked closely together for the last 30 years.
Satake approached Owner Bob Denny in February 2014 and asked if he would be interested in selling.
The Japanese business had its sight set on purchasing the Allora business after a year of diligent research on the company and the region.
The current nature of the business is to be preserved, with Mr Denny advising management.
Satake Director Craig Doorey said there are no plans to disrupt the family business, only to stablise it and help it grow.
"Yes, management has changed, but we want it to run like a family business," Mr Doorey said.
The company is talking about expansion, which will benefit all parties invovled .
Satake will have an opportunity to enhance their sales portfolio within Queensland, while Denny's will be provided with the perfect growth platfrom.
"For the local community it will mean more jobs," Mr Doorey said.
Mayor Peter Blundell said he is willing to talk to and welcome anyone who is wanting to do business in the area.