Max Speciality Films to invest $6.8m in new cast polypropylene line
India-based Max Ventures & Industries Limited (MaxVIL) said that its subsidiary Max Speciality Films Limited (MSFL), a speciality packaging films manufacturer will invest up to INR 500 million ($6.82 million) in a new cast polypropylene (CPP) Line.
The new CPP Line will have a capacity of 7.2 kilo tonnes per annum (KTPA).
According to Max Ventures & Industries, the new CPP Line expansion will be fully funded via internal accruals.
The company said that work on the capex will begin in Q2FY22 and is likely to be commercialized in Q2FY23.
Max Speciality Films to invest $6.8m in new cast polypropylene line. Photo courtesy of Free-Photos from Pixabay.
Max Ventures & Industries stated: “Demand for the CPP Films has been robust and expanding the capacity will enable MSFL to cater to the growing market for such films. Apart from robust demand these films enjoy, they will also further enhance the sustainability factor of MSFL as these films are easier to recycle.”
Max Speciality Films is said to be witnessing strong demand for its packaging films since the start of FY21. The demand is said to have been driven by the growing customer preference for packaged products with hygiene and safety becoming top priority during the ongoing Covid-19 pandemic.
Prior to the capex, Max Speciality Films commercialized the first of its two planned metallizer lines which boost its speciality product capabilities.
Through the expansion of the new CPP line along with the expanded speciality product capabilities, Max Speciality Films is said to be well poised to seize the new opportunities for growth by improving the scale of the business and at the same time sustainably boosting its profitability by better product mix.