Cosmo Films has announced its plans to re-commence the installation of a Specialty Polyester Films line (Biaxially-Oriented Polyethylene Terephthalate) by the second quarter of 2022-23 with an estimated project cost of Rs 300 crore (approximately US $ 40 million).
According to the company, the new line will be commissioned at the Waluj plant site in Aurangabad, Maharashtra, India, with a capacity of 30,000 metric tons per annum. This plant already houses BOPP lines, extrusion coating lines, chemical coating lines, metallizers, and a CPP line. The new production line will complement the existing BOPP capacity of 200,000 metric tons per annum and allow Cosmo Films to offer a more comprehensive specialty product basket for flexible packaging, labeling, lamination, and industrial applications.
Pankaj Poddar, chief executive officer, Cosmo Films, said, “Speciality BOPET is a niche segment which caters to multiple application segments, with high margins and opportunities for import substitution as well as worldwide exports. The new specialty BOPET line shall be unique and a majority of the products made on the line would focus on sustainability and creation of a greener future as the key theme. The debt or EBIDTA and other financial ratios expect to remain in a comfortable range even post the capex.”
BOPET films (Biaxially-Oriented Polyethylene Terephthalate films) offer high tensile strength, chemical, and dimensional stability, transparency, reflectivity, gas and aroma barrier properties, and electrical insulation.
Established in 1981, Cosmo Films is a global leader in specialty films for packaging, lamination, labeling and synthetic paper. With engineering of innovative products and sustainability solutions, Cosmo Films over the years has been partnering with worlds’ leading F&B, personal care & tobacco brands and packaging and printing converters to enhance their consumer experience.
Cosmo’s film offerings include BOPP and CPP films. Its customer base is spread in more than 100 countries with manufacturing units in India, Korea, and Japan.