The management of High-Tech Lubricants (HTL) has decided to enter new business opportunities in the plastic packaging industry, as announced via a notification submitted to the Pakistan Stock Exchange (PSX).
HTL will venture into the production of plastic products for external customers and third parties. The notification detailed that “This business will be pursued through the existing plant site of Hi-Tech Blending (Pvt) Ltd (HTBL), a wholly-owned subsidiary of HTL”.
HTL has been producing plastic bottles since 2016 for both its locally blended and locally filled products. It said, “Having attained substantial experience in extrusion blow molding and injection molding, the company has been exploring the provision of similar plastic packaging to outside customers for some time,” adding that it has also been approached by potential customers to provide various types of plastic bottles.
As a result, the company has initiated the processes for the import and installation of the requisite machinery in the extrusion blow molding machine. The feeding recycling system section of the plant site of HTBL had also started. The company will be producing various quality products for external customers and local third parties, according to the notification.