New Delhi: Max Ventures & Industries Ltd (MaxVIL)’s subsidiary Max Specialty Films Ltd (MSFL), which manufactures special packaging films, will invest up to $ 50 million in a new range of CPP (cast polypropylene) with a capacity of 7.2 KTPA (kilo tons) Annually).
The company statement states that the new CPP Line expansion will be fully funded by internal accruals. Work on the capex will begin in Q2FY22 and is expected to be commercialized in Q2FY23.
The demand for CPP films is strong and the expansion of capacity will enable MSFL to cater in the growing market for such films. Apart from the strong demand that these films enjoy, it will also further improve the sustainability factor of MSFL as these films can be recycled more easily.
From the inception of FY21, MSFL has been in strong demand for its packaging films, which have continued to improve quarter on quarter, leading to strong revenue and profitability.
Source: Telangana Today