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Technico Pty Limited, Australia (‘Technico’) is an agri-biotechnology company specializing in rapid seed potato production. Technico has developed the proprietary TECHNITUBER® technology, which involves the use of pathogen-tested tissue culture and processes that enable the rapid multiplication of seed potatoes from pathogen-tested plants in controlled environment. This ‘enabling technology’, which can be applied to all potato varieties, significantly reduces the number of years it takes to produce commercial quantities of quality seed potatoes and also shortens the time required for introduction of new varieties.
Technico has structured its business operations in India, China, Canada and USA through subsidiaries.
 Technico was a subsidiary of Chambal Biotech Private Ltd, Singapore [a subsidiary of Chambal Fertilizers and Chemicals Ltd, a K.K.Birla group company]. The minority stake in Technico was held between Gresham Rabo Management Ltd (15%) and other shareholders (7%). On 17th August 2007, Russell Credit Limited, a wholly owned subsidiary of ITC, acquired 100% of the shareholding in Technico from its owners.
 The acquisition is expected to provide strategic sourcing support to ITC’s Salty Snacks business through secured long-term access to high quality chip grade potato seeds. ITC had earlier launched ‘Bingo!’ in different varieties, including potato-based salty snacks, which has received encouraging support in the market. The acquisition of Technico will provide a strong synergy to the potato-based value chain, enhancing farmer capabilities through access to high quality seeds and internationally benchmarked best practices in agronomy. This is in line with ITC’s abiding philosophy to contribute to the development of the agriculture-based rural economy and secure competitiveness of the value-chains created by the Company through its agri and foods businesses.
 ITC’s extensive ‘e-Choupal’ network will leverage the TECHNITUBER® technology to provide improved and consistent yields to farmers. ITC will also use its sourcing strengths to make available such superior quality horticulture produce through its ‘Choupal Fresh’ stores. This is also expected to benefit vendors and other intermediaries in the retail chain through higher value realisation. The acquisition reflects ITC’s endeavour to create enduring value in its agri-food business by bringing superior R&D based technology to agriculture, thereby empowering farmers and enabling higher returns to both the agri and retail value-chains. |
