Dow inks licensing pact with Time Technoplast for smart packaging

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Dow inks licensing pact with Time Technoplast for smart packaging

Dow inks licensing pact with Time Technoplast for smart packaging

Industry News
Sep 12,18

Time Technoplast, which will start manufacturing PacXpert packaging at Daman and Sharjah (UAE), plans to invest $10-12 million for expansions in near future

Dow inks licensing pact with Time Technoplast for smart packaging

Mumbai, India, September 12, 2018

Time Technoplast Ltd, one of India’s leading polymer product companies, has tied up with Dow Packaging and Specialty Plastics to develop PacXpert packaging technology in India. This collaboration will enable Time Technoplast to manufacture PacXpert and quickly bring to market various packaging applications to service consumers in Indian sub-continent and GCC countries (including Egypt).

Dow’s PacXpert packaging technology is an innovative packaging format that enables the transition from larger traditional rigid containers to flexible packaging options. The distinctive flexible stand-up pouch is durable, lightweight, and cost effective. While flexible, the ‘cube-shaped’ package is shelf stable and can stand equally well upright or on its side. It also provides multiple environmental benefits by minimising content waste, reducing raw materials and offering a higher product-to-package ratio.

Through this technology, empty packages can be shipped flat, increasing shipping and warehouse efficiency and reducing the carbon footprint of entire value chain. Emptied containers also take up less receptacle space when discarded. Since the amount of material used is lesser, it has higher recyclability value and removes waste removal costs at end of life.

Commenting on the collaboration, Anil Jain, Managing Director & Chief Executive Officer, Time Technoplast Ltd, said, “We are always excited to work with innovative packaging formats and want to be first in the industry to manufacture the latest designs. Our partnership with Dow India combined with our market reach and passion to lead the change, makes us well positioned for making PacXpert a success in India. This Smart Can (PacXpert) 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.”

Bambang Candra, Asia Pacific commercial vice president of Dow Packaging & Specialty Plastics, commented, “PacXpert provides consumers with a functional and sustainable packaging solution that can be used for a wide range of applications for India’s rapidly growing consumer market. 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.”

PacXpert has reached 75 packages on the shelf globally, which reaffirms the commitment from Dow, Time Tech and several other industry leaders around the world who are committed to making this packaging technology a success in a variety of different applications.

“Time Tech has been a strategic collaborator for Dow over the past few years and this agreement solidifies our joint commitment and belief in the technology,” said Fabrice Digonnet – Global PacXpert Commercial Director for Packaging Specialty Plastics.

TimeTech, a leader in rigid plastic industrial packaging, 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 will start manufacture of PacXpert packaging first at Daman and later at Sharjah (UAE). The company will go for further expansions in near future in India and other countries based on customers’ acceptance. Total investment in these projects is estimated at $10-12 million (approximately Rs 72-85 crores) in the next 2-3 years.