A technology transfer agreement was signed between the two companies in Mumbai on 28 August 2018 in the presence of Dow’s Global Leadership Team and over 50 top potential multinational and Indian user companies.
Anil Jain, managing director and chief executive officer, Time Technoplast, 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.”
TechPack Smart Can 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. According to Time Technoplast, it also provides multiple environmental benefits such as minimising content waste, reducing raw materials and offering a higher product-to-package ratio.
“PacXpert (Smart Can) provides consumers with a functional and sustainable packaging solution that can be used for a wide range of applications for the rapidly growing consumer markets in India and the Middle East,” 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.”
With the new technology, Time Technoplast hopes to make inroads into new business segments such as food, edible oils, paints, cleaning chemicals, lubricating oils and other household products as an extension to its packaging vertical.
Time Technoplast has planned to start manufacturing of Smart Can first at Daman in India and later at Sharjah (UAE). The company will undergo further expansions in the near future in India and other countries of its presence based on customers’ acceptance. The total investment in these projects is estimated at USD 10-12 million in the next three years.