Ceva Enters Indian Market with Acquisition of Polchem16 March 2016
INDIA - Strong customer technical support will provide a natural platform for the coming together of the two businesses.
Founded 25 years ago by the two managing partners – Nitin Sahasrabudhe, a chemical engineer and Milind Limaye, a veterinary microbiologist - Polchem employs 270 people and has established a strong reputation for service through a team of field-based veterinarians backed up with first class diagnostic and laboratory support.
The two partners and existing management team will remain in place, to continue to grow Polchem’s flagship feed supplement and disinfectant ranges and develop Ceva’s innovative poultry vaccines and ruminant products in this important market.
For Ceva, this is a significant move into one of the world’s fastest growing economies. India is the world’s No.1 milk producer and 5th largest poultry producer. Both these sectors are strategically important for the company, which has a number of appropriate, innovative solutions for poultry and dairy producers.
Commenting on the deal, Ceva Chairman and CEO, Marc Prikazsky said: “India is much too strategic a country to ignore and yet we did not want to enter the market before finding the right partner. In Polchem, we believe we have found a partner, who shares our values and as a result is the right team to take our products into this important market.”
For Polchem, this marks a new era with the opportunity to introduce Ceva’s high-tech poultry vaccines and advanced vaccine delivery technology to an expectant and fast evolving Indian poultry market.
The Indian dairy sector is also poised for a big qualitative leap in the coming decade, with the Polchem team excited to introduce Ceva’s innovative reproduction management and infection treatment ranges.
Commenting on the deal, Polchem founding directors, Milind Limaye said: “We were approached by a number of multinationals who were interested to collaborate with us in the future, but we found Ceva’s philosophy and technology to be perfectly in sync with our own.”
While for Nitin Sahasrabudhe: “There is great synergy between the two companies. Ceva wants to help develop the Polchem range domestically and internationally and Polchem will establish Ceva’s innovative products and services in the Indian market."
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