products and irrigation systems company Jain Irrigation
Systems Ltd will a acquire majority stake, Cascade Specialties,
Inc, which specialising in natural low bacteria onion
products and organic dehydrated onion.
transaction is expected to close before the end of December
company, which specialises in micro irrigation systems,
plastic pipes, plastic sheets and food processing is making
the acquisition of the Oregon-based American company through
its US subsidiary.
this acquisition, Jain Irrigation becomes the third largest
dehydrated onion producer in the world with a combined
capacity in excess of 25,000 MTS. This new capacity along
at full utilisation is expected to generate revenue in
excess of $50 million by FY 2009 as against $10 million
in FY 2006.
is in line with its aim to be among the 'top 5' companies
globally in the lines of businesses it operates and earlier
this year it had made two related acquisitions in India.
Indian company is traded on the BSE, Luxemburg and the
National Stock Exchange of India.