Max Speciality Films commercializes its new advanced Metallizer line

Max Ventures & Industries Limited's (MaxVIL) subsidiary Max Speciality Films Limited (MSFL), which manufactures specialty packaging films had announced in Dec, 2020 that company will be installing two additional metallizer lines. MSFL has commenced first of the two metallizer lines today.

These two additional metallizer 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 Mn for two lines (Rs. 300 Mn for each), these metallizer lines will enable MSFL to enhance its value-added specialty product portfolio. This is in line with its focus since the last few years to co-create packaging films innovations in consultation with leading FMCG companies.

Rs. 300 Mn for the first metallizer line was funded by MaxVIL and its Japanese partner Toppan in the proportion to their shareholding in MSFL, that is 51:49. The second metallizer line which is expected to be commercialized in Q3 of FY22 will be funded through internal accruals. These two additional lines are one of the newest and most technologically advanced with superior production capabilities. After the commercialization of second line, MSFL will have a total of 6 metallizer lines.

These state-of-the-art metallizer lines incorporates 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 need of the hour.

Commenting on the commercialization, Sahil Vachani, MD & CEO of MaxVIL said, "We are very pleased to announce that with the commercialization of our latest metallizer line today, MSFL has entered a next leg of growth in its specialty journey. With the commercialization of this metallizer line and another on track to be commercialized 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.

Increasing output of high value and more profitable value-added films will enable MSFL to further efficiently utilize 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 a 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."

Shares of Max Ventures and Industries Ltd was last trading in BSE at Rs.54.25 as compared to the previous close of Rs. 55.4. The total number of shares traded during the day was 22266 in over 237 trades.

The stock hit an intraday high of Rs. 54.6 and intraday low of 52.65. The net turnover during the day was Rs. 1192939.

Source : Equity Bulls

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