Jain Irrigation buys onion dehydrater Cascade
The US subsidiary of Jain Irrigation Systems has signed an agreement to purchase majority interest in US-based Cascade Specialties Inc.
According to a release issued by Jain Irrigation to the BSE today, Cascade Specialties is an onion dehydrater based in Boardman, Oregon, USA, and specialises in natural, low bacteria onion products and organic dehydrated onion.
"We are very pleased to be involved with Cascade Specialties," Anil Jain, managing director of Jain Irrigation, said. "Cascade’s commitment to produce high quality products, coupled with its excellent reputation for customer service, is exactly the approach we take to the marketplace with our other businesses," he added.
With the acquisition, Jain Irrigation becomes the third-largest dehydrated onion producer in the world with a total combined capacity in excess of 25,000 mt.
"The new capacities, along with Cascade capacity at full utilization, is expected to generate revenue in excess of $50 million by FY2009 as against $10 million in FY 2006," the release added.
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