Mumbai, June 05, 2009 : 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.

-manish