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Time Technoplast and Schoeller Alibert Systems announce a JV in Materials Handling Systems to launch innovative products and services for the first time in India

Mumbai, June 05, 2009 : Time Technoplast Ltd., (TimeTech), a leading technology driven polymer manufacturer announces a joint venture with Netherland Headquartered Schoeller Alibert 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 Alibert 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.

About Time Technoplast

Time Technoplast (www.Timetechnoplast.com) is a leading technology based innovative polymer Product Company. Over the years, TimeTech has emerged as a formidable player in the polymer space, with a product repertoire that caters diverse segments like industrial packaging, lifestyle, healthcare, auto components and infrastructure related products. It focuses on replacing metals with polymers in high performance areas using innovation and latest technology. TimeTech services wide spectrum of user industry in each of its business verticals reducing sectoral risks and tapping new opportunity for growth. TimeTech is Indian multinational with 25 manufacturing facilities across India, UAE, Thailand, Poland and Bahrain. It has well established brands across the product segments and strong marketing & distribution network in India and overseas.

About Schoeller Alibert Systems

Schoeller Alibert Systems (www.schoellerarcasystems.com) are the global market leaders in Returnable Packaging solutions for material handling products and systems such as small and large foldable containers, pallets, crates etc for distribution, storage and retail display across user segments like retail, automotive, agriculture, processed food, pharma, FMCG, electronics and logistics. SAS is servicing most demanding needs of its customers through its presence in 50 countries across the world and has strong ongoing relationships with international customers like Ericsson, Pepsi, Coca Cola, Carrefour, Metro, H&M, Wal-Mart, Unilever, Nestle, Heinz, Volvo, VW, Ford, Heineken, etc. just to name a few.

SAS has strong R&D capabilities illustrated by number of patents and international recognitions. Using its in-house designing and product development capabilities, SAS offers specialized material handling solutions to meet changing needs of its customers. It is no surprise that SAS is by far the global leaders with its next competitor being less than half in size.

For further information, please contact

Ms. Megha Jain - Time Technoplast Ltd.   Mr. Aryan Rana - Adfactors PR Pvt. Ltd.
Tel : (022) 2803 9999
Email : megha@timetechnoplast.com
Tel : (022) 2281 3565
Fax : aryan.rana@adfactorsspr.com



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