February, 26, 2018
DIMO Agribusinesses, the agriculture arm of Diesel & Motor Engineering PLC (DIMO), recently entered into partnership with Plantchem (Pvt) Limited and Plantseeds (Pvt) Limited to expand its footprint in the Agriculture business.
The new partnership will enable DIMO Agribusinesses to expand its product portfolio in crop care solutions, seeds and other agriculture speciality products and will create quick access to markets around the country. Through this partnership, DIMO has acquired a 51% stake in Plantchem (Pvt) Limited and Plantseeds (Pvt) Limited.
DIMO has been in the Agriculture industry for over two decades providing Agri Machinery solutions and boosting the agriculture mechanisation process in the country through products such as Mahindra Tractors, Claas combine harvesters and other high tech equipment. Most recently, DIMO Agribusinesses ventured into DIMO Fertilizers, expanding its horizon in the local Agriculture sector. In addition, as the market leader in the commercial transportation segment in the country, DIMO brings in the much needed impetus to the Agriculture industry in Sri Lanka.
In 2005, Farmchemie Agro (Private) Limited was incorporated as a Limited Liability Company in Sri Lanka and from 2012 onwards, the company came to be known as Plantchem (Pvt) Limited. Initially, the company was involved in import and distribution of seeds, fertilizers, crop care and agricultural equipment from world-renowned manufacturers. In 2015, they incorporated Plantseeds (Pvt) Limited as an extension of the company with a focus on catering to the expanding agricultural seeds business.
Speaking about the tie-up, Ranjith Pandithage - Chairman & Managing Director of DIMO stated, “This new partnership complements our Mission to “Enrich the lives of our people through innovative, responsible and trailblazing technology from earth to mouth”. This will provide the ideal platform to share expertise, strengths and knowledge of both companies in order to thrive in the Agriculture business. The partnership will also help us to be the only player in the market to offer Agri Mechanisation solutions, Agriculture Transportation solutions, Fertilizers and Agriculture Inputs to the consumer. Operating in appropriate links of total agriculture value chain will inspire customers with differentiation in Quality, Performance and Services. This collaboration will therefore revolutionize the agriculture industry in Sri Lanka.”
Uditha Wanigasinghe - Founder & Chairman of the Plantchem stated, “Through this synergy with DIMO Agribusinesses, we expect to be the number one player in the Agriculture Inputs market in Sri Lanka. This collaboration is a result of the company’s succession plan and we believe that DIMO is the ideal partner for us. DIMO is a highly-recognized and widely-respected blue-chip company with over 75 years of experience and expertise in different sectors, including in Agricultural Mechanisation. As such we are proud to be associated with a world-class company like DIMO.”
The new synergy redefines DIMO Agribusinesses’ motto of “Next Generation Agriculture” while helping convert Sri Lanka’s conventional agriculture into modern high-tech agriculture. As a truly Sri Lankan company that is capable of touching people’s hearts and making positive differences in their lifestyles, DIMO has duly stepped forward to address this national need of revitalizing the local agriculture sector.