ITC and NTIC enter in a joint venture

• Decrease Increase

31 May, 2011 — Northern Technologies International, a manufacturer of sustainable biobased and certified compostable bioplastic materials, announced that it has signed a memorandum of understanding with ITC to jointly develop and commercialize biopolymer-paper products targeted at the burgeoning consumer goods packaging market in India.

The two companies will jointly develop solutions for providing biodegradable products such as food service ware, food packaging, personal care product packaging and other fast-moving consumer goods packaging. The biopolymer materials will be manufactured by Harita-NTI, NTIC's Indian joint venture, for integration with paper manufactured by ITC's Paperboards and Specialty Papers Division (PSPD). Both companies will also collaboratively develop and promote joint branding and messaging for these products.

• Decrease Increase