Second metallizer line expected to be commercialized in Q3 FY22
Max Ventures & Industries' (MaxVIL), subsidiary Max Speciality Films (MSFL), which manufactures specialty packaging films had announced in December 2020 that company will be installing two additional metallizer lines. MSFL has commenced first of the two metallizer lines today, 20 April 2021.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. 60 crore for two lines (Rs. 30 crore 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. 30 crore 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.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content