HSIL announced yesterday that it is changing its name to AGI Greenpac. 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 focussed 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, a company statement said.
It also said that AGI Greenpac will now lead the next phase of growth and the management team remains committed to capitalising on the growing market opportunities, expanding its packaging business and unlocking value for its stakeholders.
Commenting on the development, Sandip Somany, Vice-Chairman and 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……..”
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 statement concluded.