9th May 2018 | Railmajra, Punjab
Max Speciality Films Limited (MSFL), one of India’s leading manufacturers of BOPP packaging films, today launched its fifth BOPP films manufacturing line (Line 5), significantly increasing its capacity from 46.35 KTPA to 80.85 KTPA. The new line was launched at a special inaugural ceremony by Sh. Manpreet Singh Badal, Hon’ble Finance Minister, Government of 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 Cr., through a combination of primary and secondary share issuance for 49% equity share in MSFL.
Speaking on the occasion, Hon’ble Minister Sh. Manpreet Singh Badal said, “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. I convey my best wishes to the Max Group on their new facility and hope that they will continue to contribute towards the upliftment of their catchment.”
Mr. Sahil Vachani, Managing Director and CEO, MaxVIL said, “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, I believe MSFL will greatly benefit from the resulting economies of scale.”
Mr. 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 expansion of the company’s portfolio of speciality 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 Mr. 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.
MaxVIL has four primary distinct business verticals carried out through its subsidiaries, MSFL (specialty packaging film business), Max Estates Limited and Wise Zone Builders Private Limited (real estate development), Max Learning Limited (education related activities) and Max I. Limited. (investment business). MaxVIL is listed both on BSE and NSE.
About Max Ventures and Industries Limited
Max Ventures and Industries Limited (BSE: 539940 | NSE: MAXVIL), is one of the three listed flagship companies of the Max group, which is among the prominent business groups in India, and is promoted and founded by Mr. Analjit Singh. MaxVIL was incorporated in 2015 and operates across four primary businesses verticals — Max Speciality Films Limited, among the leading manufacturers of value added BOPP, Max Estates Limited and Wise Zone Builders Private Limited, the real estate arm of the Max Group which develops, sells, leases and licenses real estate in North India and also undertakes joint development of projects and construction activities, Max I. Limited, engaged in investing in early stage businesses in certain identified sectors including healthcare, fintech, food and beverage services, hospitality, education, cyber security and real estate technology, and Max Learning Limited, which is in the process of evaluating and exploring opportunities in the education business.
MaxVIL is listed on both the Bombay Stock Exchange as well as the National Stock Exchange.
About Max Speciality Films Limited
Max Specialty Films Limited (MSFL) is a strategic partnership with Toppan Printing Co. Ltd, Japan. A subsidiary of Max Ventures and Industries Limited, MSFL manufactures BOPP (Biaxially Oriented Polypropylene) films of differentiated quality. Max Speciality Films Limited is among the leading manufacturers of BOPP films in India including as specialty packaging films, labels, metallized films, coating and thermal lamination coated films used in packaging, labelling and graphic lamination industries for Indian and overseas markets. The specialty films business has established several long-term relationships with fast-moving consumer goods companies allowing us 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 as a business division of erstwhile Max India Limited. The business division was transferred to Max Speciality Films Limited in 2012. With the restructuring of Max Group, Max Speciality Films Limited became a subsidiary of Max Ventures and Industries Limited with effect from April 1, 2015. Supported by a NABL and BRC certified R&D centre, the manufacturing facility near Chandigarh has an aggregate installed capacity of 46.35 kilo tonnes per annum (“KTPA”), 13.20 KTPA and 11.50 KTPA for BOPP film, metallised film and thermal laminated film, respectively, as at March 31, 2018.
About Max Group
Max Group, one of the leading Indian business conglomerates with a strong presence in life insurance and health and allied businesses. As at February 5, 2018, Max Group had a total of 9 million customers with 230 offices across India and 22,500 employees. With over three decades of experience, the Max Group has become one of India’s prominent corporate houses.
The Max Group comprises three listed flagship companies, namely Max Financial Services Limited, Max India Limited and Max Ventures and Industries Limited.
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Max Group: www.maxgroup.net
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