Twitter
Advertisement

Mumbai based company to be second largest drip irrigation firm

Agriculture major Jain Irrigation Systems will acquire 100 per cent control from Habasit Holdings in California based Aquarius - in an all-cash deal for $21.5 million.

Latest News
article-main
FacebookTwitterWhatsappLinkedin

MUMBAI: Agriculture major Jain Irrigation Systems on Thursday said it will acquire 100 per cent control from Habasit Holdings in California based Aquarius - in an all-cash deal for $21.5 million.

With the closure of the deal, it would become the second largest drip irrigation firm in the world, a company statement said.

Aquarius is a leading designer and manufacturer of micro-irrigation systems for agriculture, landscape and nursery applications.

It has manufacturing facilities in Ontario, Fresno and Winter Haven and a strong network of over 1000 dealers for product distribution, the company said.

The deal would be closed immediately and the acquisition would be facilitated through Jain Irrigation's US based subsidiary Jain Irrigation Inc USA.

"With this acquisition, we have a firm foothold in one of the largest markets for irrigation business and access to latest technology for irrigation components," Jain Irrigation Managing Director Anil Jain said commenting on the development.

He said his company would now focus on synergies of its operations in India and USA to offer diverse but integrated products and services in the irrigation business worldwide.

In May 2006, Jain Irrigation acquired Chaplin Watermatics, a leading manufacturer of drip tape in New York.

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement