Time Technoplast Ltd, a leading technology based polymer product company, today said it has formed a joint venture (JV) with Netherland-based Schoeller Arca Systems (SAS) with an initial investment of 10 million euros to make a range of plastic returnable packaging (RTP) and material handling systems.
The JV will launch a broad range of small and large foldable containers, pallets and crates, providing end to end material handling systems to sectors like retail, automotive, agriculture, beverages, processed food, apparels, pharma, FMCG, consumer durables and logistics.
It will help them reduce handling and transport costs, the company said in a statement.
The initial facilities will be set up in Silvassa and Pantnagar and the products will be available in domestic market before this year-end, it added.
In the second phase, two new production facilities will be set up in Chennai and Kolkata.