Aquaria gears up for organics production

Aquaria says it has now settled the purchase of Thames-based Organic Interceptor Products and is already working towards launching a range of organic home and garden products in New Zealand.

It is also working on overseas sales of Organic Interceptor, one of the key products in its range which is believed to be the world's first certified organic weed controller.

AQL MD, Earl Stevens, says the next step is for the company to set up a distribution network for its products and work on the branding and marketing of the certified organic range.

In line with shareholder approvals last month the company has entered into unconditional subscription agreements to issue 181.8 million shares at an issue price of 1.1 cents per share, with money due by the end of this week.

As part of the acquisition of the new organics business the current AQL board of directors has resigned.

The new board includes Organics Interceptor founders Rodney Innes and his brother Stuart, MD Earl Stevens, and chairman and non-executive director Dr Raymond Thomson, who is also chairman of Wellington Drive Technologies (NZSE: WDT),

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