HSIL Limited (NSE: HSIL; BSE: 500187), a leading Packaging Company, announced today that it is changing its name to AGI Greenpac Limited. In addition, the company has also changed the name of its PET business from Garden Polymers to AGI Plastek.
The name change is a part of the Company’s transformational journey and with the completion of the divestment of the Building Products Division as on 31st March 2022, the Company has now become a focused packaging player. The name “AGI Greenpac” is new however the motto “Excellence in Packaging” remains the same which resonates well with the company’s customers and truly reflects the product portfolio.
The new modern logo ties the brand closer to its identity as a sustainable packaging company. The word Green reflects the company’s commitment to offering best-in-class sustainable packaging solutions that have a positive impact on our environment. The Green Leaf represents the company’s focus on adopting sustainable best practices. It is the company’s promise to put sustainability at the core of day-to-day business operations.
AGI Greenpac will now lead the next phase of growth and the management team remains committed to capitalizing on the growing market opportunities, expanding its packaging business, and unlocking value for its stakeholders.
Commenting on the development, Mr. Sandip Somany, Vice-Chairman & Managing Director, AGI Greenpac, said, “The Company’s corporate rebranding is a strategic step, and the new name “AGI Greenpac” reflects the company’s renewed market positioning post the completion of the divestment of Building Products Division. This new name and brand perfectly illustrate our commitment to expand the sustainable packaging business and remain one of the most profitable packaging companies in India.”
He further added, “With our new company name and logo, we have sought to provide our stakeholders with a clear and strong understanding of who we are and what we are set to achieve in the coming years.”
Commenting on the new identity, Mr. Rajesh Khosla, CEO, AGI Greenpac said,” A few months ago, we began the process to develop a new brand identity for the Company that aligns business with its product offerings. In addition to the name better reflecting its offerings, we also wanted the visual identity to have a strong foundation rooted in sustainability. We are now a complete packaging Company and a new shared purpose and identity will position AGI Greenpac to have a greater impact in the industry. Furthermore, we remain fully committed to applying resources strategically and driving innovation within the packaging sector.”
The Company has recently started manufacturing ‘Specialty Glass’ at a new greenfield facility in Bhongir. The Glaspac facility with its five manufacturing lines spread across 15 acres has a manufacturing capacity of 154 tonnes per annum. The plant manufactures clear glass products, such as vials, nail polish bottles, and other specialty glass products which are primarily used in the packaging of cosmetics and perfumery, pharmaceuticals, premium spirits, food & beverages water bottles, and candles jars.