Himalya International to enter into Multi-Million Dollar deal with US Mushroom Major for Organic Manure Rights

Himalya International Ltd has announced that the Company is close to finalizing a deal to sell the rights of its organic manure technology to a US-based Mushroom & Food Processing giant for US $ 5 million.

Under the deal, the US company will market the rights to use the organic formula in the United States, Canada and Latin America. The US mushroom industry already has a major issue with slow degradation of huge pile-ups of SMS that takes as long as two years to become usable by farms and nurseries and the leachette emanating spoils the ground water.

The Company presented this technology at the 2nd International SMS Symposium held from September 17, 2006 to September 20, 2006 at Concordville, PA, USA organized by the Penn State University & the American Mushroom Institute (AMI).

This invention came after 3 years of rigorous R & D that the company carried out on the disposal of its Spent Mushroom Substrate (SMS) and in the process converted its waste SMS into the richest for of organic manure.

The new process ensures faster break down of its effluents in a shorter period of time by adopting a Bio-Dynamic composting technique.

The Company has an annual disposal of 15 tons of "Spent Compost" from its mushroom operations besides the huge disposal from its Vegetable and Cheese processing activities. The company will now convert all the organic waste of its food processing as well as newly installed cheese unit into organic manure rich in essential nutrients for plant growth.

On the local front, the Company is embarking on an ambitious plan to use all its organic manure for organic produce by its contract farmers in Himachal Pradesh and expects robust earnings from the dissemination of this technology.

Source : Equity Bulls

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