The Hindu Business Line : Time Technoplast forms jt venture with Netherlands co

MUMBAI: Plastic processing company Time Technoplast on Friday said it has entered into an agreement with Netherland-based Schoeller Arca Systems (SAS) for providing wide range of plastic made packaging and material handling solutions.

The products would be made through the joint venture with an initial investment of 10 million euro and would be available in the Indian market before the end of this year, Time Technoplast said in a filing to the Bombay Stock Exchange.

“We recognise that the material handling systems need to be more effective and cost effective. We seek to combine our partners' technical capabilities, experience and global relationships together with our multi-locational low-cost production facilities, expertise, strong marketing and distribution network across the country to help this joint venture tap into huge business opportunities,'' company's Managing Director Anil Jain said.

The joint venture would launch a broad range of small and large foldable containers, pallets and crates, the filing added.

Shares of Time Technoplast settled at Rs 46.85, up 1.19 per cent on the BSE. - PTI

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