Financial Daily from THE HINDU group of publications
Thursday, Sep 30, 2004
Financial Daily from THE HINDU group of publications Thursday, Sep 30, 2004 |
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Corporate
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Diversification Hindustan Tin plans foray into flexible packaging Our Bureau
Delhi , Sept. 29 HINDUSTAN Tin Works Ltd (HTWL) on Wednesday announced plans to diversify into the flexible packaging business. The company has taken a flexible packaging unit on lease and plans to go in for a greenfield project, once the new business stabilises. The Managing Director , Mr Sanjay Bhatia, said, "Our existing clients for tin cans would also be using our flexible packaging products. We will see for a year or so before deciding on the greenfield project." The company already has a list of big clients such as Nestle, Heinz, Britannia, Amul, Tata Coffee, Haldiram and Asian Paints. According to Mr Bhatia, most of these companies also use flexible packaging for some of their products. "Since we have long standing relations with them, we expect them to source flexible packaging materials from us," he said. HTWL is also foraying into tinned packaging for non-food items like paints, shoe polish and other polishes. The company, which had its annual general meeting here on Wednesday, has announced a dividend of 5 per cent for fiscal 2003-04.
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