Tait Electronics is splitting off promising hi-tech parts of the business

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Tait Electronics is splitting off promising hi-tech parts of the busines

The electronics exporter, which is based in Christchurch, is protected from foreign ownership because Sir Angus Tait put it into a trust about 14 years ago. He died last year, aged 88.

Yesterday, however, it announced part of its group research division had been spun off as a separate company. "More such moves were likely in the future" says Tait Managing Director.

The new company, MiMOMax Wireless, would be owned by Tait Trusts, but its managing director Paul Daigneault said external shareholders could be taken on in the future to help raise capital. It is intended to retain New Zealand ownership with Tait Group as the majority shareholder, however.

"We're trying to create an environment where MiMOMmax will provide high tech opportunities for New Zealanders"

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