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NaanDan Jain Acquires US Irrigation Firm "Point Source Irrigation"
Kibbutz Naan, Israel, February 25, 2009 – NaanDan Jain Irrigation Ltd. (NaanDan Jain), a global technological leader for irrigation solutions, announced that it has fully acquired the US Irrigation firm "Point Source Irrigation" (PSI). NaanDan Jain, 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 NaanDan Jain in Israel.
"The USA forms a great potential for growth for NaanDan Jain; needs for high-quality irrigation solutions and products are immense," states Avner Hermoni, CEO at NaanDan Jain.
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