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Jain Irrigation, through its multi generation subsidiary, acquires controlling stake in Thomas Machines S.A. of Switzerland (THE). Jain Irrigation Systems Ltd has acquired of 69.75% shareholding of Thomas Machines S.A. of Switzerland (THE) with full management and operational control. THE is a manufacturer of specialist machines and equipment, including drip irrigation lines, quality control and test equipment, automation equipment, laser machine centers and laser products. Acquisition to help JISL to further invest in the field of irrigation to build its capacities and increase speed to market for new generation drip lines including precision irrigation products THE holds valuable IPRs and cutting edge technology for its business in both irrigation and composite pipes business. JISL has additionally entered into Shareholders Agreement with holder of the 30.25% shares of THE, with call option which can be exercised over the next 3 years."
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