Quebec’s Premier Tech buys majority interest in Lankan firm

Monday, 29 August 2011 00:33 - - {{hitsCtrl.values.hits}}

Premier Tech, which specialises in agriculture and environmental technologies, said Wednesday it has acquired the majority interest in Tropicoir Lanka Ltd. in Sri Lanka to increase its presence in Asian markets.

The Quebec company didn’t release financial terms of the deal.

The company also said the acquisition would add to its products for residential and commercial markets in Europe and North America.

Tropicoir Lanka has been a strategic partner of Premier Tech’s environmental technologies division for more than 10 years with its filters for the treatment of waste water, Premier Tech said in a news release.

Premier Tech said it would integrate about 200 employees into its business as a result of the acquisition, bringing the number of team members it has in Asia to nearly 300.

Premier Tech also has a horticulture and agriculture division as well as an industrial equipment division. It has more 2,300 employees in the Americas, Europe and Asia.