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Sri Lanka Equity Forum » Stock Market News » CIC Holdings PLC, signs agreement with SLINTEC - New herbicide formulation for the company’s Crop Solutions Division

CIC Holdings PLC, signs agreement with SLINTEC - New herbicide formulation for the company’s Crop Solutions Division

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Melissa Pereira

Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Thursday 24th September 2015, Colombo: CIC Holdings PLC recently signed a research agreement with the Sri Lankan Institute of Nanotechnology (SLINTEC), to develop a novel herbicide formulation for CIC's Crop Solutions Division. This initiative is one of the very first attempts in the industry to locally synthesize and formulate a herbicide in Sri Lanka.

SLINTEC is a public-private partnership between the Government of Sri Lanka and major players in the private sector namely MAS Holdings, Brandix, Dialog, Hayleys, Loadstar and Lankem. SLINTEC is committed to assisting local industries in their efforts to develop and improve products for local and international markets,by using nanotechnology and other advanced technology solutions. Synthetic Chemistry is the latest programme that was added to the strategic research portfolio of SLINTEC, and this new herbicide formulation is the first commercial initiative in this particular category.

CIC Holdings is one of the country's leading conglomerates with a diversified industry portfolio that includes businesses in areas such as healthcare and consumer products. The company was recently ranked by Superbrands, as the 4th strongest conglomerate brand in Sri Lanka. CIC's Crop Solutions Division is the leading supplier of crop protection solutions in Sri Lanka and works closely with farmers and plantation growers to help them cultivate healthy crop yields that meet the needs of Sri Lankan consumers.

Commenting on the agreement Samantha Ranatunga, Managing Director/CEO CIC Holdings PLC stated, "We are immensely pleased to embark on this new research initiative with SLINTEC, one of the foremost scientific research entities in the country. CIC's Crop Solutions Division plays a pivotal role in spearheading the country's agriculture industry and aids yield maximization and also reduces the loss of harvest due to weeds, pests and diseases. By embarking on this research project to develop a state-of-the-art herbicide formulation, CIC is once again stepping forward as a pioneer in the agriculture industry, and is taking the necessary measures to help the local industry develop and align itself with the highest global standards and latest trends."

CIC Crop Solutions boasts an impressive range of solutions that cater to the management of weeds, insects, and diseases (ranging from organic and bio pesticides to synthetic chemicals), and also includes plant stimulants and liquid fertilizers. CIC Crop Solutions also supplies products to cater to specific pests and pathogens. With an uncompromising dedication to quality, CIC Crop Solutions only procures products and raw materials from the most reputed international organizations.

CIC has been a leading blue chip conglomerate in the country for decades and its business portfolio extends into the areas of agriculture, animal feed, nutrition, healthcare, industrial materials and consumer products.
Courtesy: Ceylon Financial Today 25 September 2015 

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