This joint venture seeks to fill in the existing gap and offer Indian users state-of-art products of international design, quality and standards. The manufactured products are expected to be available in Indian market before the end of this year.

Commenting at the launch conference, Mr. Anil Jain – Managing Director, Time Technoplast Ltd., said, "We recognize that the material handling systems need to undergo revolutionary changes to make Indian industry more efficient and cost effective. We seek to combine our partner’s technical capabilities, experience and global relationships together with our multi-locational low cost production facilities, expertise, strong marketing and distribution network across the country to help this JV tap into huge business opportunities."

Mr. Erik de Bokx – Chief Executive Officer, Schoeller Arca Systems added, "We are very excited about growth prospects in Asia and more particularly in India. We are confident that our products and customized solutions in materials handling shall meet most demanding applications in India. We make long term commitment to the Indian users through this JV and would help them transit seamlessly to the new age material handling methods and systems."

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, Time Technoplast Ltd said in a statement.

Time Technoplast, a leading technology based Innovative polymer Product Company, has emerged as a formidable player in the polymer space, with a product repertoire that caters diverse segments like industrial packaging, lifestyle, healthcare, auto components and infrastructure related products. It focuses on replacing metals with polymers in high performance areas using innovation and latest technology. The company has 25 manufacturing facilities across India, UAE, Thailand, Poland and Bahrain.

Schoeller Arca Systems (SAS) is the global market leader in Returnable Packaging solutions for material handling products and systems such as small and large foldable containers, pallets, crates etc. for distribution, storage and retail display across user segments like retail, automotive, agriculture, processed food, pharma, FMCG, electronics and logistics.