Domino cracks egg investment

Domino Printing Sciences said the value of its investment in egg monitoring firm TEN Media had jumped by 25 million dollars in just one year.

In April 2011 Domino invested $50m in TEN, a business based in California set up to implement improved food safety monitoring, freshness and traceability systems in the egg industry.

Today the firm said Omron Automation & Safety, a supplier to the project, had invested as a minority shareholder, valuing TEN at $500m, a 50% increase in value.

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Omron's investment dilutes Domino's holding down to 14.85%, valuing it at $74.25m.

The firm is set to provide manufacturing and procurement services, automation hardware and engineering support to TEN.

"We are delighted that Omron, a significant supplier from the outset of the project, has decided to become a strategic partner in the business venture through this investment," said Nigel Bond, Domino's Managing Director.

"Omron, a proven technology provider over many years, will help enhance TEN's product offerings and is a great addition to the team."