NaanDanJain’s 2009 Press release
NaanDanJain’s strategy to fully own subsidiaries drives the company to buy 30% of PSI from Irritec and Siplast.
Kibbutz Naan, Israel, February 25, 2009 – NaanDanJain Irrigation Ltd. (NaanDanJain), a global technological leader for irrigation solutions, announced that it has fully acquired the US Irrigation firm "Point Source Irrigation" (PSI). NaanDanJain, who has already owned 70% of the company, bought the 30% shares from its Italian partners Irritec and Siplast.
The acquisition is part of the company's strategy to broaden its worldwide sales and marketing network with wholly owned subsidiaries.
PSI, located in Fresno, CA, is responsible for all sales and customer support in the USA. In addition, the company runs a production site for driplines and fittings. The wholly owned subsidiary overlooks a number of testing sites for new and upgraded lines and works closely with the R&D department of NaanDanJain in Israel.
"The USA forms a great potential for growth for NaanDanJain; needs for high-quality irrigation solutions and products are immense," states Avner Hermoni, CEO at NaanDanJain.
NaanDanJain Irrigation Ltd: A global irrigation company providing technological leadership with the widest range of cost-effective and customized solutions. With over 70 years of experience in more than 100 countries, NaanDanJain offers top quality products that deliver higher productivity per unit of resources. The 2007 merger of NaanDan and Jain has created an enriching multi-cultural synergy with significant expansion of the product portfolio, R&D activities, and worldwide sales and marketing network. Kibbutz Naan in Israel and Jain Irrigation in India each own 50% of the company.