Packaging Major Uflex to invest Rs. 1700 Crore in Uttar Pradesh

Uflex - India's largest multinational flexible packaging materials and Solution Company has its roots in Uttar Pradesh. With humble beginnings in Noida back in the mideighties, when the city was in its nascent stage with hardly any infrastructure, Uflex in the process of its evolution helped transform the face of Noida and Uttar Pradesh. Uflex today is One Billion Dollar organization focusing on high quality products, innovation, human resource development and trust of all stakeholders including its customers to create value added differentiation catering to the entire realm of flexible packaging requirements not only in India but overseas as well.

Just ahead of the Uttar Pradesh Investors' Summit 2018 Mr. Ashok Chaturvedi, Chairman & Managing Director, Uflex Limited said, "We would like to further enhance our unique business strengths in the state of Uttar Pradesh in the years that follow. Given the myriad benefits like light-weighting / downgauging, sustainability, reduction at source, high product to package ratio, lesser energy utilization at all the three stages of the product lifecycle i.e. manufacturing, transportation and disposal, there is no stopping for the flexible packaging industry hereon so to speak."

Further elaborating, Mr. Chaturvedi said "We have ambitious plans to substantially enhance our manufacturing capacity for flexible packaging in the next few years. This would entail the need of following machinery and capital equipment in a phased manner:

- Conventional Gravure & C.I. Flexo Printing Machines;
- Hi-Tec Gravure & C.I. Flexo Printing Machines with LED curing system - first time in the world;
- Extrusion Coating Lamination Machines;
- Solvent Based & Solvent less lamination Machines;
- High Speed Inspection and rewinding Machines;
- Slitters & Doctoring Machines;
- Utilities like boilers, heating systems, chillers, generator etc.

For seeing this through fruition from scratch to finish we endeavor to invest Rs. 500 crore towards the project. We would require around 75 acres of land for doing this. Our capacity enhancement would generate employment for additional 500 people. To achieve this goal well in time we solicit Government's support in terms of quick approvals, infrastructure towards road & rail transportation; well-developed industrial land with proximity to residential hub for easy sourcing of manpower and uninterrupted power supply among others."

Sustainability has been the mainstay of Uflex. Elaborating upon Uflex Limited's plans to promote environmental sustainability, Mr. Ashok Chaturvedi said, "As a Group we lay a lot of emphasis on environmental sustainability in all our business processes therefore we propose to set up a solar project on 300 acres with an investment of approximately Rs. 1200 Crore. The land requirement works out to about 4-5 acres per megawatt depending upon various technologies of photovoltaic cells. The useful life of a typical solar plant spans across 25 years. The proposed project is expected to generate employment for 250 people at various levels. Electricity thus produced will be used for captive consumption and the surplus shall be supplied to state or national grid. This would be Uflex's contribution towards Government of India's target of achieving 100 GW of solar power by 2022."

Uflex today has state-of-the-art packaging facilities at multiple locations in India (Noida & Jammu) with installed capacity of around 100,000 TPA and has packaging film manufacturing facilities in Noida (Uttar Pradesh) India, UAE, Mexico Egypt, Poland and USA with cumulative installed capacity in excess of 337,000 TPA. The company deploys cutting edge technology to provide best in class and optimized flexible packaging solutions to its clients in terms of aesthetics, functionality, barrier properties, ecofriendliness, anti-counterfeiting properties among other features.

Uflex has six strategic business units giving it the competitive edge and an irreproachable reputation of a fully integrated end to end flexible packaging materials and solution company with a formidable market presence in over 140 countries across the globe. These six businesses are:

1. Polymeric Films: Producing BOPP, BOPET, CPP, Metalized films and other specialized films.

2. Flexible Packaging Products: Producing flexible packaging laminates (in roll form); prefabricated pouches, flexi-tubes (laminated), big bags, aseptic liquid packaging material.

3. Engineering: Producing a wide range of flexible packaging converting machines, packaging machines and ancillary equipments.

4. Cylinders: Producing rotogravure printing cylinders; flexo-polymer plates; elastomers & sleeves.

5. Holography: Manufacturing world class track and trace enabled anti-counterfeiting & brand protection solutions that prevent look alikes/ body doubles which erode the brand equity of our clients.

6. Chemicals: Producing inks, adhesives, coatings and polyols that are used in printing and lamination processes.

Uflex has recently commissioned state-of-the-art aseptic liquid packaging material manufacturing plant in Sanand, Gujarat. With this the company has completed its product portfolio to include endto-end flexible packaging solutions for solids, semi-solids, powders, granular material, non-aerated liquids, pastes, gels and viscous fluids. This plant re-affirms Uflex's commitment towards Government's Make in India initiative.

Emphasizing upon Uflex's commitment for the State of Uttar Pradesh, Mr. Ashok Chaturvedi said, "Uflex stands committed to manufacturing top of the line flexible packaging materials and solutions on the soil of Uttar Pradesh and supplying it to the whole world. We remain committed to the success and progress of Uttar Pradesh. Dovetailing the synergies of the Government and Industry, there is no stopping for Uttar Pradesh to become Sarvottam Pradesh of our Great Nation."

Shares of UFLEX LTD. was last trading in BSE at Rs.374.75 as compared to the previous close of Rs. 367.1. The total number of shares traded during the day was 25203 in over 625 trades.

The stock hit an intraday high of Rs. 377.6 and intraday low of 362.2. The net turnover during the day was Rs. 9274189.

Source : Equity Bulls

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