IPL Expertise and Technology Transcend International Boarders
One of India's largest corporations identifies SmartCrate(TM) as the best reusable container for handling food
Saint-Damien, QC- IPL Inc (TSX, IPI.A), one of North America's leading producers of plastic products, has announced the sale of technology and expertise for manufacturing its reusable SmartCrate(TM) containers to Reliance Industries Limited, one of India's most powerful industrial conglomerates. This commercial agreement also covers the sale of some molds currently used to manufacture these containers, which are specially designed for the transportation of handling perishable products.
"Once again, IPL has set itself apart from the competition with its proven technological know-how and the indisputable quality of its innovative products," declared Serge Bragdoon, IPL's President and CEO. "Today's announcement is doubly important as it makes IPL a true partner to Reliance Industries, supporting its development and long-term operational excellence not only in the field of plastics but also in retail."
Within the next two years Reliance Industries intends to launch a chain of 1,500 retail grocery stores with sales projected to be approximately $25 billion a year. The in-depth analysis recently carried out by Reliance Industries to pinpoint the best system for supplying the future stores with fruits and vegetables convinced the corporation that SmartCrate(TM) was clearly the most efficient handling solution currently on the market worldwide and that there was no reason to invest in the development of an alternative.
Designed for a range of uses, the SmartCrate(TM) reusable collapsible crates offer high-value-added benefits that have been extremely successful within the North American market over the past five years, due to their avant-garde design, durability and versatility. IPL's SmartCrate(TM) is ideally suited for the distribution of perishables and goods in the produce, vegetable, meat and poultry, dairy and retail industries.
"This business partnership will strengthen IPL's position in its current markets," continued Bragdon, "by accelerating the development of its technology and manufacturing methods while optimizing the quality of products offered to North American customers."
About IPL Inc.
IPL Inc. is one of the leading North American producers of molded plastic products through injection and extrusion for different industrial manufacturing sectors. IPL employs more than 1,000 people in its four plants located in Saint-Damien, Saint-Lazare and Lawrenceville, Quebec and Edmundston, New Brunswick. The company manufactures and markets over 400 products for packaging and materials handling. IPL also provides highly technical value-added custom molding for the automotive and transport industries, as well as for various industrial uses. Further information about IPL is available at www.ipl-plastics.com, or call 1-888-554-0553.
About Reliance Industries
Founded in 1966, Reliance Industries Limited is a diversified company with operations in the textile, petrochemical, oil refining and plastic sectors. With annual earnings in the order of $20 billion and market capitalization of $41.5 billion, Reliance Industries is one of India's largest companies, accounting for 3.5% of the national GDP in the world's second most populous country after China.
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