Time Technoplast Ltd., (TimeTech), a leading technology driven polymer manufacturer announces a joint venture with Netherland headquartered Schoeller Arca Systems (SAS) to introduce a wide range of plastic Returnable Packaging (RTP) and material handling solutions. The products will be manufactured through the joint venture with an initial investment of € 10 mn and would be available in Indian market before the end of this year. The joint venture will launch a broad range of small and large foldable containers, pallets, crates, etc. This will provide end to end material handling systems to sectors like retail, automotive, agriculture, beverages, processed food, apparels, pharma, FMCG , consumer durables and logistics and help them reduce handling and transport costs. These products will provide long term operational benefits, maximum efficiency and protection, optimum space utilization, create better logistics and supply chain.
The initial production facilities are proposed to be set up in Silvassa (Western region) and Pantnagar (Northern region). In the second phase two new production facilities shall be set up in Chennai (Southern region) and Kolkata (Eastern region). This joint venture seeks to fill in the existing gap and offer Indian users state-of-art products of international design, quality and standards.
Commenting at the launch conference, Mr. Anil Jain - Managing Director, Time Technoplast Ltd., said, "We recognize that the material handling systems need to undergo revolutionary changes to make Indian industry more efficient 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 JV tap into huge business opportunities".
Mr. Erik de Bokx - Chief Executive Officer, Schoeller Arca Systems added, "We are very excited about growth prospects in Asia and more particularly in India. We are confident that our products and customized solutions in materials handling shall meet most demanding applications in India. We make long term commitment to the Indian users through this JV and would help them transit seamlessly to the new age material handling methods and systems.