By Tricitynews
Chandigarh
09th May:- Max Speciality Films Limited (MSFL), one of India’s leading
manufacturers of BOPP packaging films, launched its fifth BOPP films
manufacturing line (Line 5) here today thus significantly increasing its
capacity from 46.35 KTPA to 80.85 KTPA. The new line was launched at a special
inaugural ceremony by Manpreet Singh Badal, Finance Minister, Punjab.
MSFL’s Line 5 is designed
to meet trends for recyclability, ultra high barriers and print receptivity.
The line will be able to manufacture thicker films with advanced properties
making it environment-friendly since it is conducive to recycling and reducing
the usage of plastic per pack.
The launch of Line 5 is the second significant growth initiative
undertaken by Max Ventures and Industries Limited (MaxVIL) (BSE: 539940 | NSE: MAXVIL), through MSFL, within the last one year as part of its ongoing effort
to rejuvenate the manufacturing business. In February 2017, the Company had
brought in Japan’s Toppan Printing Co. Ltd. (Toppan), as a strategic investor
and partner in MSFL to share their expertise in managing a global speciality
films business, as well as, leveraging their global sales network. As part of the partnership, Toppan had invested approximately
INR 198.78 crore, through a combination of primary and secondary share issuance
for 49% equity share in MSFL.
Speaking
on the occasion, Manpreet Singh Badal said that the Max Speciality
Films facility is one of the oldest in the region, but also one of the most
modern. Over the past 3 decades, the facility has built a sound and sustainable
ecosystem in its neighbouring areas, creating jobs and contributing generously
to local communities as part of its CSR efforts. It also serves as a model for
worker welfare and maintaining a cordial work environment. Industry needs to
play a proactive role in the development of Punjab and this new facility is a
welcome step. He convey his best wishes to the Max Group on their new facility
and hope that they will continue to contribute towards the upliftment of their
catchment.
Sahil Vachani, Managing Director
and CEO, MaxVIL said that at MaxVIL, it has been our consistent endeavour to
reinvigorate the manufacturing business, especially against the backdrop of the
Government’s ‘Make in India’ thrust, and help differentiate it through
strategic innovation in an increasingly crowded and competitive market.
MSFL is
among the leading manufacturers of value-added BOPP films in India, fulfilling the requirements of some of the world’s most
popular clients. Armed with an augmented production capacity and Toppan’s expansive global sales network and
technological capabilities, he believes MSFL will greatly benefit from the
resulting economies of scale.
Ramneek Jain, CEO of Max
Speciality Films said that with the introduction of Line 5, we expect to
benefit from a reduction in our cost per unit. Further, the versatility of the
layout will accelerate the expansion of the company’s portfolio of specialty
films across two key business areas: packaging and labeling.
MaxVIL is one of the three listed flagship companies of the Max Group,
and is promoted and founded by Analjit Singh. MaxVIL was incorporated in
2015. In FY 2016, the Board of
Directors of Max Financial Services Limited (erstwhile Max India Limited)
approved a corporate restructuring plan that resulted in the demerger of the
various business verticals of Max Financial Services Limited, through a scheme
of demerger (“Scheme of Demerger”), into three separate listed companies: Max
Financial Services Limited, Max India Limited (erstwhile Taurus Ventures Limited)
and MaxVIL.
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