Jain inks agreement with Kibbutz Naan, completes NaanDanJain acquisition
Jain, which acquired 50 per cent of NaanDanJain five years ago, fully owns the company now. Senior b…
Jain, which acquired 50 per cent of NaanDanJain five years ago, fully owns the company now. Senior board members and executives of Jain and representatives of Kibbutz Naan and NaanDanJain were present when the agreement was inked.
It ensures that the scope of NaanDanJain's activities will remain in Israel until 2020, with the aim of expanding it in the future. Anil B Jain, managing director, Jain, was in Israel, and said, “Together, we expect to be the leading agro-industrial business concern in the world.”
Now the call option Jain has held since it acquired the first half of NaanDanJain has been realised. Incidentally, in the last five years, the latter reported that its sales turnover had gone up by over 25 per cent.
More than Rs 1,250 million has been pumped into NaanDanJain for the manufacturing of innovative drip irrigation equipment and sprinklers, both in Israel and in its subsidiaries overseas. There has been an increase in the investments in research and development as well.
The Jain-NaanDanJain collaboration opened new markets for the company, and the basket of products and services manufactured by both companies together is among the widest product range in the world.
It also realised Jain's One Stop Shop concept (the company introduced the drip lines-tapes technology to NaanDan Jain, and the latter offered sprinklers and dripper products to the former.)
It ensures that the scope of NaanDanJain's activities will remain in Israel until 2020, with the aim of expanding it in the future. Anil B Jain, managing director, Jain, was in Israel, and said, “Together, we expect to be the leading agro-industrial business concern in the world.”
Now the call option Jain has held since it acquired the first half of NaanDanJain has been realised. Incidentally, in the last five years, the latter reported that its sales turnover had gone up by over 25 per cent.
More than Rs 1,250 million has been pumped into NaanDanJain for the manufacturing of innovative drip irrigation equipment and sprinklers, both in Israel and in its subsidiaries overseas. There has been an increase in the investments in research and development as well.
The Jain-NaanDanJain collaboration opened new markets for the company, and the basket of products and services manufactured by both companies together is among the widest product range in the world.
It also realised Jain's One Stop Shop concept (the company introduced the drip lines-tapes technology to NaanDan Jain, and the latter offered sprinklers and dripper products to the former.)
