Jain Irrigation buys Thomas Machines

Jain Irrigation has acquired a controlling stake (69.75%) in Switzerland-based Thomas Machines S.A.

According to a release issued by Jain Iirrigation to the BSE today, 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 acquisition will help Jain Irrigation invest in the field of irrigation to build 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," the release added.

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