Packaging films maker Max Speciality Films recently said it is investing Rs 60 crore to install two metallizer lines to meet the increased demand for speciality packaging from packaged food segment.
Out of this, Max Speciality Films Limited (MSFL) has already invested Rs 30 crore for installing the first metallizer line, which is expected to be commercialised by March next year and the second will be operational in the third quarter of the next financial year.
MSFL is a subsidiary of Max Ventures & Industries Ltd (MaxVIL) in which it owns 51 per cent stake and the balance 49 per cent is held by Japanese global printing company Toppan. Commenting on the development, MaxVIL MD & CEO Sahil Vachani said, “We have been focusing on increasing the speciality films component in our production-mix which results in better pricing power and improves margins.”
These metalliser 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 speciality component in its product category.
The company is focusing to increase sales of value-added speciality films as it is more profitable. Value-added speciality films volume contribution stood at 42 per cent of total volumes in FY20 as compared to 34 per cent in FY19 and it continues to increase.
Analjit Singh family holds 49.7 per cent in MaxVIL and its other shareholders include New York Life and First State Investments.