The New Delhi-based Innovative Tech Pack Ltd (ITPL), one of the leading players in the Indian plastic packaging industry, has bagged a 5-year contract from Dabur India Ltd for the supply of PET for the FMCG major’s plants in India, Bangladesh and Nepal.

"The company was awarded this contract as one of the vendors among two under stiff competition which was spearheaded by Accenture Consulting. Dabur India has reposed its faith in Innovative Tech Pack's technical capabilities, ability and reliability and this is the third extension the company has received," said ITPL in a press release. Dabur India is one of ITPL's major customers who source PP caps & closures and jars in HDPE.

The agreement, valid for five years, is expected to fetch ITPL an assured business of Rs 400 crores over the next five years. "The company is heading in the right direction of expanding its capacity which will definitely improve the bottom line of the company in the coming years,” added the release.

Source:business-standard.com