Technico is an agri-biotechnology company specializing in rapid seed potato production. Technico has developed the proprietary TECHNITUBER® technology which enables the rapid multiplication of seed potatoes from pathogen-tested plants in a 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.
The acquisition of Technico by Russell Credit Limited, ITC's wholly owned subsidiary, will provide strategic sourcing support to ITC's Foods business through secured long-term access to high quality chip grade potato seeds. 'Bingo!', ITC's brand of potato chips and finger snack foods, will gain significant brand equity through such sourcing support.
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 expected to benefit vendors and other intermediaries in the retail chain.
