The new manufacturing line 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 fifth line is the second significant growth initiative undertaken by Max Ventures and Industries 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 (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 Rs 198.78 crore, through a combination of primary and secondary share issuance for 49% equity share in MSFL.
Sahil Vachani, managing director and CEO, MaxVIL said, “At MaxVIL, it has been our consistent endeavour to reinvigorate the manufacturing business 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, I believe MSFL will greatly benefit from the resulting economies of scale.”
Ramneek Jain, CEO, 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 speciality films across two key business areas — packaging and labeling.”
Also, read Max’s Ramneek Jain: “Use single family material to ease recycling”
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 (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 Limited, Max India (erstwhile Taurus Ventures) and MaxVIL.
MaxVIL has four primary distinct business verticals carried out through its subsidiaries, MSFL (specialty packaging film business), Max Estates and Wise Zone Builders (real estate development), Max Learning (education related activities) and Max I. (investment business). MaxVIL is listed both on BSE and NSE.
Max Speciality Films is among the leading manufacturers of BOPP films in India. The specialty films business has established several long-term relationships with fast-moving consumer goods companies allowing it to generate repeat business from such customers and have enabled us to develop new, value-added specialty products focused on higher margins.
The specialty packaging films business commenced operations in 1989. Supported by a NABL and BRC certified R&D centre, the manufacturing facility near Chandigarh has an aggregate installed capacity of 46.35 KTPA, 13.20 KTPA and 11.50 KTPA for BOPP film, metallised film and thermal laminated film, respectively, as at March 31, 2018.
Manpreet Singh Badal, finance, planning, governance reforms and programme implementation minister, Government of Punjab, during the inauguration of the plant