Advanta India accquire 100 pc stake in GT

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New Delhi, Mar 4: Advanta India Ltd today said it's subsidiaries have acquired 100 per cent business of Garrison&Townsend LP, (GT) for 10.5 million dollars. GT has strong presence in Grain Sorghum about 32 per cent of its revenue, forage sorghum, BMR sorghum and Sorghum Sudan about 67 per cent of its revenue. The fiscal year 2007, the company achieved a sale of about 11 million dollars.

''This acquisition bolsters the company's presence into Sorghum in US in particular and strengthens its presence in sorghum world wide, in general'' a company statement said.

GT is a hybrid gain and forage sorghum research, production, conditioning marketing and selling Company. Its products are marketed throughout the United States as well as in Italy, Israel, Pakistan, Mexico, Central America, South America and Japan.

UNI

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