Jain Irrigation acquires Thomas Machines

04 March 2008

Mumbai: Jain Irrigation has bought a controlling 69.75-per cent stake in Switzerland-based Thomas Machines S.A with full management and operational control.

"We have not only secured technology for a significant and growing division but now we are a step ahead of all our competition in terms of quality of products, said Ajit Jain, joint managing director, Jain Irrigation Systems. "This will further help to consolidate JISL's leadership position in the industry worldwide," he said.

Thomas Machines is a manufacturer of specialist machines and equipment including drip irrigation lines, quality control and testing equipment, automation equipment, laser machine centres and laser products.

The company said the acquisition would help it to build irrigation capacities and increase speed-to-market for new generation drip lines including precision irrigation products.

Thomas Machines holds valuable IPRs and cutting-edge technology in both irrigation and composite pipes business Jain Irrigation said.

Jain Irrigation said the existing management will continue to operate Thomas Machines on a day-to-day basis under the overall guidance of the Board and the exiting shareholder will be retained as an advisor.