Reliance Industries Ltd. (Mumbai), one of India’s largest industrial conglomerates, is purchasing technology and expertise from IPL Inc. (Saint-Damien, Quebec) for manufacturing its reusable SmartCrate containers. This commercial agreement also covers the sale of some molds currently used to manufacture the containers, which are specially designed for transporting perishable products.
Reliance Industries Ltd. 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, it is one of India’s largest companies, accounting for 3.5% of the national GDP.
“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 retai,.” Says Serge Bragdoon, IPL’s president and CEO.
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 was the most efficient handling method for handling produce.
Designed for a range of uses, the SmartCrate reusable collapsible crates are well suited for the distribution of perishables and goods in the produce, vegetable, meat and poultry, dairy and retail industries.
Source: IPL Inc.