Time Technoplast joins hands with global giant Dow to launch revolutionary “Smart Cans”
Mumbai September 2018: Time Technoplast Ltd (listed on BSE & NSE), a leading polymer products Company makes a huge technology leap by tying up with global giant Dow for bringing in revolutionary technology based “Smart Cans” (global patented) that enable the transition from large traditional rigid containers to flexible packaging options in consumer product segment. A technology transfer agreement was signed between both the companies at Mumbai on 28th August 2018 in the presence of Dow’s Global Leadership Team and over 50 top potential multinational and Indian user companies. This would allow TimeTech to exclusively produce and sell “Smart Cans” in Indian sub-continent and GCC countries (including Egypt).
“TechPack Smart Can” www.techpacksmartcan.com is a lightweight packaging design offering a fitment closure and integrated ergonomic dual handles, enabling precision pouring with no glugging, easy reclosing and convenient carrying. “TechPack Smart Can”, is shelf stable and can stand upright or on its side once filled. It also provides multiple environmental benefits by minimizing content waste, reducing raw materials and offering a higher product-to-package ratio. TechPack Smart Can in 1L – 20 L Capacity.
Commenting on the collaboration, Mr. Anil Jain, Managing Director & Chief Executive Officer, Time Technoplast Ltd., said, “It had always been our endeavour to bring most innovative and technology driven packaging products for our valued customers across the globe. This “Smart Can” in collaboration with Dow would irreversibly change packaging landscape benefitting user and environment at the same time. It is a part of the sustainability initiative by the Company”.
“PacXpert (Smart Can) provides consumers with a functional and sustainable packaging solution that can be used for a wide range of applications for Indias’ and Middle Easts’ rapidly growing consumer market,” said Bambang Candra, Asia Pacific commercial vice president of Dow Packaging & Specialty Plastics. “The collaboration with Time Technoplast will help drive a shift to sustainable flexible packaging that will be good for brand owners, consumers and the environment.”
TimeTech are the leaders in rigid plastic industrial packaging and had been looking at entering into consumer packaging which has huge business potential. Technology based innovative Smart Can will help company find inroads into this new business segments (food, edible oils, paints, Cleaning Chemicals, Lubricating oils and other household products) as extension of its packaging vertical.
Time Technoplast shall start manufacture of “Smart Can” first at Daman in India and later at Sharjah (UAE). The Company will go for further expansions in near future in India and other countries of its presence based on customers’ acceptance. Total investment in these projects is estimated at USD 10 - 12 Mn. in the next 2-3 years.