Page 54 - Plastics News May 2017

BUSINESS NEWS

Jain Irrigation buys two US-based irrigation firms for $48.5 million

he Jalgoan (Maharashtra) based Jain IrrigationSystems pumps, etc. Started in 2004, IDC opened in 2004 installs
TLtd (JISL) has acquired 80 percent stakes in two US- technological advanced irrigation equipment.
based micro-irrigation dealers - Agri-Valley Irrigation Inc JISL, with revenue of more than $1 billion, serves the
(AVI) and Irrigation Design and Construction Inc (IDC) agricultural, piping and infrastructure markets with
- for $ 48.5 million.AVI and IDC have entered into an micro-irrigation systems, PVC and HDPE pipes, plastic
agreement to merge ownership of their businesses to form sheets, etc. The company is the largest manufacturer of
a larger distribution company. The new entity - which will drip irrigation equipment in India and the world's second
be one of the leading players in design, construction, biggest. Micro irrigation is its largest business unit.
service and innovative agriculture technology – will
provide a unique platform to help growers implement Innovative Tech Pack bags
irrigation technology. AVI and IDC combined revenue
for 12 months ended December 2016 is $ 113 million. order from Bisleri to supply
caps for beverages

he Noida-based
TInnovative Tech
Pack Ltd (ITPL), a
manufacturer of plastic
containers, has received
a contract from Bisleri
to provide caps for its
This is a key strategic investment by JISL into one of packaged water and
the largest irrigation markets in the world. JISL already carbonated beverages bottles. "The company will be
has a presence in US micro irrigation market through its awarded a major contract by Bisleri, which is India's
California-headquartered wholly-owned subsidiary Jain leading company in packaged natural mineral water.
Irrigation Inc (JII). Bisleri has given us a mould to produce the caps for
its still water bottles. ITPL is now investing in a highly
California drought has now eroded with significant rains sophisticated mould under exclusive contract of Bisleri
over the last few months. Therefore, now there is strong for its carbonated beverage bottles,” said Ketineni
irrigation business opportunity in the next 18-24 months Sayaji Rao, managing director, ITPL, in a press release.
for the merged distribution company as well as JII. The These caps will be made on international norms and
merger will help Jain Irrigation to forward integrate standards enabling to retain the carbonated level in the
itself in the value chain and build direct relationship with bottle.Innovative Tech Pack has signed an agreement
growers. This fits into company’s strategy to participate withBisleri for supply of these caps for a period of five
in end-to-end project solutions to harness company’s years and Bisleri should also pay mould amortisation
unique capabilities in integrated irrigation project cost. "This business will help us enter into new field of
solutions.Anil Jain, CEO, Jain Irrigation Systems, said, closure for the carbonated beverages industry," said
“We are delighted to be able to invest and participate Rao. In December last year, Innovative Tech Pack had
in such an industry-changing and strategic partnership. bagged a 5-year contract from Dabur India Ltd for the
The transaction gives us the capability to provide grower supply of PET for the FMCG major’s plants in India,
focused, turnkey, end-to-end project solutions, consistent Bangladesh and Nepal. ITPL, which offers customised
with our global solutions and capabilities.” Agri-Valley packaging solutions for diverse industries, serves
Irrigation, founded in 1983, designs, fabricates, installs reputed customers with jars, bottles, caps, closures and
and maintains irrigation projects using technologies such dispensers in PET, polypropylene (PP), HDPE and PCTA.
as drip irrigation systems, micro sprinkler systems, filters,

Plastics News | May 2017 54