HTL to enter into new business

KARACHI: The management of High-Tech Lubricants (HTL) has decided to enter new business opportunities in the plastic packaging industry by venturing into the production of plastic products for external customers and third parties, a bourse filing said on Tuesday.

“This business will be pursued through the existing plant site of Hi-Tech Blending (Pvt) Ltd (HTBL), a wholly-owned subsidiary of HTL,” it added.

HTBL has been producing bottles for its own needs since 2016 for both its locally blended and locally filled products.

“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,” the company said.

In addition, HTL itself has been approached by potential customers to provide various types of plastic bottles.

For the above purposes, the processes for import and installation of requisite machinery in the extrusion blow molding machine and feeding recycling system section of the plant site of HTBL have been initiated for the production of various quality products for external customers/local third parties, it added.