Indian BOPP packaging films manufacturer Max Speciality Films has inaugurated its fifth BOPP films manufacturing line (Line 5), which has increased its capacity from 46.35 kilo tonnes per annum (KTPA) to 80.85 KTPA.
The new line was inaugurated by Manpreet Singh Badal, Honorable finance minister, Government of Punjab.
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 (MaxVIL) through Max Speciality Films within the last year. In February 2017, the company brought in Japan’s Toppan Printing as a strategic investor and partner to share its expertise in managing a global speciality films business, as well as, leveraging its global sales network. As part of the partnership, Toppan had invested approximately INR 198.78 crore (about 29 million USD), through a combination of primary and secondary share issuance for 49 percent equity share in Max Speciality Films.
Sahil Vachani, managing director and CEO at MaxVIL, said: ‘It has been our consistent endeavor 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. Max Speciality Films 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, I believe Max Speciality Films will greatly benefit from the resulting economies of scale.’
Ramneek Jain, CEO of Max Speciality Films, said: ‘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 packaging and labeling which are our two key business areas.’
Incorporated in 2015, MaxVIL is one of the three listed flagship companies of the Max Group, and is promoted and founded by Analjit Singh. In the 2016 financial year, the board of directors of Max Financial Services (erstwhile Max India) approved a corporate restructuring plan that resulted in the demerger of the various business verticals of Max Financial Services, through a scheme of demerger into three separate listed companies: Max Financial Services, Max India and MaxVIL.
Further, MaxVIL has four primary distinct business verticals carried out through its subsidiaries: Max Speciality Films; Max Estates Limited and Wise Zone Builders Private Limited (real estate development); Max Learning Limited (education related activities); and Max I. Limited (investment business).