TTL to buy assets of 2 Daman cos

MUMBAI: Time Technoplast Ltd plans to buy land and building, plant and machinery and other fixed assets aggregating Rs 5.36 crore from two enterprises in Daman.

These companies manufacture industrial plastic drums and containers and have capacity ranging from 20 to 200 litres. The process is expected be completed during July itself.

Time Technoplast expects the enhancement in production capacities at Daman to help meet the increasing demand in industrial packaging segment in the western region.

The company has production facilities at six locations including two sites in Daman and Mahad in Maharashtra.

At 12:39 pm, the Time Technoplast share was at Rs 639, up 0.21% on the BSE.