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Max Speciality Films to infuse Rs 600 million to install two metallizer lines

Monday, 21 Dec 2020
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Max Speciality Films (MSFL), a subsidiary of Max Ventures & Industries (MaxVIL), is investing Rs 600 million to install two metallizer lines to meet increased demand for specialty packaging from packaged food segment with improved shelf life offering 100 percent reliable laminate options.
MaxVIL holds 51 percent stake in MSFL, while Japanese major Toppan holds 49 percent stake. 
These lines add a thin layer of metal, mainly aluminum to the specialty films being produced by MSFL to enhance the barrier properties and for superior appearance of the packaging. 
The company’s investment commitment for the two metallizer lines is a part of its efforts to improve the proportion of specialty films it markets, and in line with its focus since the last few years to co-create packaging films innovations in consultation with leading FMCG companies. 
Out of the total planned capex of Rs 600 million, the company has invested Rs 300 million for installing the first metallizer line, which is expected to be commercialised by March 2021. 
The second metallizer line, with similar investment of Rs 300 million, will be operational in Q3/FY22. 
The first metallizer line has been already funded by MaxVIL and its Japanese partner Toppan; while the second metallizer line is to be funded through internal accruals. 
These metallizer lines will not increase the overall capacity because the base film remains the same, but it will enhance MSFL’s ability to improve the value-added specialty component in its product category. 
MSFL manufactures a vast range of BOPP films of differentiated quality across a wide field of applications -- graphic art, labelling, flexible packaging for processed foods, confectionery, nonfood fast moving consumer goods (FMCG) and industrial goods. 
Its total capacity is currently around 81 kilo tpa at facility located at Rail Majra in Ropar, Punjab. The company is focusing to increase sales of value-added specialty films as it is more profitable. The value-added specialty films volume contribution stood at 42 percent of total volumes in FY20 as compared to 34 percent in FY19 and it continues to increase. 
No major capacity addition is planned in the BOPP industry in near future, which augurs well for sustainable margins for MSFL in times to come.
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