As per the announcement to Pakistan Stock Exchange, The Board of Directors of Hi-Tech Lubricants Limited (HTL) has decided to venture into a new business in the plastic packaging industry. The company will take exposure in the production of plastic products for external customers and third parties through its subsidiary.
The new business will be conducted through the Hi-Tech Blending (Pvt.) Ltd. (HTBL), a wholly-owned subsidiary of HTL.
HTBL has been in business of producing bottles for its own needs since 2016 for both its locally blended and locally filled products.
Having attained substantial experience in extrusion blow moulding and injection moulding, the Company has been looking out for opportunities in the provision of similar plastic packaging to outside customers for some time.
Moreover, the Company itself has been approached by potential customers to provide various types of plastic bottles.
The company has already initiated the processes for the import and installation of requisite machinery in the Extrusion Blow Molding Machine & Feeding Recycling System section of the Plant Site of HTBL. The whole process will involve the following:
(1) Import and installation of 06/04 Head Double Station Machine for bottles of different types/sizes from 50 ml to 1000 ml for Fast Moving Consumer Products e.g. Shampoos & Cleaners, Pharmaceuticals, etc.
(2) Import and installation of Multi-Layer 2 head Double Station Machine for Oxygen Sensitive Products/Bottles for Food, Dairy, Pharmaceuticals and Pesticides, etc.
(3) Import and installation of Injection Molding Machine for (i) Caps (for different bottles), (ii) Buckets (for Paint, Chemical & Dairy products, etc.) and (iii) Auto Parts (for Bike & Cars, etc.)
Hi-Tech Lubricants was granted permission by Oil and Gas Regulatory Authority (OGRA) in May,2019 to operate new storage facility at Sahiwal and marketing of petroleum products in province of Punjab.
Hi-Tech Lubricant had total assets of PKR 4.9 billion with total sales of PKR 7.2 billion in 2020
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