Time Technoplast Ltd., (TimeTech) a leading technology based,
innovative polymer Products manufacturing company, recently completed
the acquisition of 99% holding in Kompozit- Praha, Czech Republic,
engaged in manufacturing of high tech Composite Cylinders. Kompozit-
Praha (KP) is one of the three producers of such hi-tech Cylinders
worldwide. The Cylinders produced by KP are based on the most advanced
technology and know-how which originally came from aerospace sector.
Time Tech now proudly announces the launch of high tech Composite
Cylinders for LPG for the Indian market. TimeTech is setting up a
state-of-art manufacturing unit at Talasari
(Maharashtra) with a capacity of one million cylinders per annum with
an initial investment of INR 550 million. This facility will be
operational by April 2011.
In the intervening period, Company shall offer Composite cylinders for
Indian market out of its subsidiary – Kompozit- Praha, Czech Republic.
Based on our extensive market survey carried out recently, TimeTech is
convinced about huge business potential for Composite LPG Cylinders in
Asian region, more particularly India, Middle East, Thailand and
Malaysia. To start with, these markets shall be fed from the
production facilities inCzech Republic and India followed by
additional production facility in the regions with larger business
potential.
Composite LPG Cylinders offer numerous technical and operational
advantages vis-a-vis metal cylinders. Composite Cylinders are
explosion proof and can withstand three times higher pressure before
leaking locally (no explosion). These cylinders are aesthetically
appealing, light weight (approx 1/3rd), non-corrosive, rust proof and
maintenance free. The special construction material (glass reinforced
fibre) allows consumers to see the level of gas inside the cylinder.
India witnesses few thousand deaths every year due to explosion of
metal LPG cylinders which will become thing of the past with the use
of Composite Cylinders.
India has over 150 million gas cylinders, in circulation with an
addition of 12 million every year with projected growth rate of 12 –
15% pa. Oil Marketing Companies have announced additional 55 million
gas, connections in rural sector in next 5 years which will generate a
huge demand for’ cylinders. TimeTech is hopeful of riding on the spurt
in demand and replacement of metal cylinders with Composite Cylinders
owing to operational advantages.
for CNG applications specially in automotive sector. Kompozit-Praha
(KP) has already developed Type-4 Composite Cylinders for CNG which
can withstand, bursting pressure exceeding 600 bar, Being light weight
(better fuel efficiency) and explosion proof, such Composite Cylinders
are being preferred over metal cylinders for CNG run vehicles. KP
would launch such cylinders in Europe in 2010 end and CNG Composite
cylinders would also become available for Indian market in 2011.
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