Max Speciality Films (MSFL) has commenced first of the two metalliser lines, which was announced last year, on 20 April 2021. Max Ventures and Industries (MaxVIL) subsidiary MSFL, which manufactures specialty packaging films, had announced in December 2020 that the company will be installing two additional metalliser lines.
The two additional metalliser lines were planned as a part of MSFL’s strategy to continue to embark on its specialty journey. Planned with a total capex of Rs 600 million for two lines (Rs 300 million each), the metalliser lines will enable MSFL to enhance its value-added specialty product portfolio. This is in line with its focus to co-create packaging films innovations in consultation with leading FMCG companies.
MaxVIL and its Japanese partner Toppan funded the first metalliser line in proportion to their shareholding in MSFL, which is 51:49. The second line, which is expected to be commercialised in Q3 of FY22, will be funded through internal accruals.
The two lines are one of the newest and most technologically advanced with superior production capabilities, according to the company. After the commercialisation of the second line, MSFL will have a total of six metalliser lines under its possession.
The company stated in a press note that the metalliser lines incorporate “best-in-class technology and innovations in the manufacturing of sustainable specialty films with transparency, high barrier performance and superior appearance of the packaging”. “These specialty films are manufactured using sustainable materials with clear focus on recyclability factor, which is the need of the hour,” it stated.
Sahil Vachani, MD and CEO at MaxVIL said, “We are very pleased to announce that with the commercialisation of our latest metalliser line, MSFL has entered a next leg of growth in its specialty journey. With the commercialisation of this metalliser line and another on track in Q3 of FY22, MSFL will significantly enhance its capabilities in the specialty product portfolio catering to the high-end premium needs of the customers.”
The company believed that increasing output of high value and more profitable value-added films will enable MSFL to further efficiently utilise its facilities and in turn improve the profitability and sustainability of the business.
“Developing recyclable films through extensive research and technology takes the topmost priority for us at MSFL. It gives us great pleasure to co-work with the leading FMCG companies to develop sustainable and recyclable packaging materials with improved shelf life and thus caring for our environment and community,” Vachani concluded.