Time Technoplast JV with Schoeller Alibert Systems secures order for Rs.20 crores
To launch operations ahead of its schedule
Mumbai, September 8, 2009 : Time Technoplast Ltd’s (TimeTech) joint venture project with Schoeller Alibert Systems (SAS) Netherland has secured orders for Rs. 20 crores approx. from a reputed multinational in India for the supply of “Special Packaging Products”.
These products are to be used for packaging critical electronic and telecom components. The Product is proposed to be manufactured at its initial production facility at Silvassa.
The order is to be executed over a period of one year starting from November, 2009.
About Time Technoplast JV with Schoeller Arca, Netharlands.
Time Tech had in early June 2009 signed the Joint Venture with Netherlands headquartered Schoeller Alibert Systems with aim of introducing a wide range of Plastic Returnable Packaging (RTP) and material handling solutions. Under the proposed plan for the JV, the operations were to commence by Q4-FY10. With this order, the company would start the operations from Novemebr'09 itself, ahead at its targetted launch of the product scheduled for 1st of April, 2010.
Commenting on the occasion, Mr. Anil Jain, Managing Director, Time Technoplast Ltd, said “This order demonstrates the urgent need of quality material handling systems in the country and shall help the Joint Venture to tap into huge business opportunities in this segment”.
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 an aspiring Indian multinational with over 20 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.
For further information, please contact
|Mr.Bharat Vageria - Time Technoplast Ltd.
||Mr. Atul Gupta - Time Technoplast Ltd.