Uflex bags the Marketing award by the Association of International Metallizers, Coaters and Laminators

Wins Marketing Award for its innovative, high graphic quality pouches for Eclairs Rich Brownie

Uflex Ltd has been bestowed with the Marketing Award in the Food Packaging Category by the Association of Industrial Metallizers and Laminators (AIMCAL).  Uflex has bagged the award for a PET/mPET/polyethylene stand-up pouch for chocolates from Cadbury India Ltd.

Uflex Ltd. was acknowledged by AIMCAL judges for creating a pouch with high graphic quality. The pouches are made from a three-ply BOPET film reverse printed by rotogravure/metalized BOPET film/PE film laminate. With a punched hole on the top seal for hanging and press-to-close zipper, these pouches combine the best of convenience with an eye-catchy looks that drew the judges attention.

The judges noted the package design makes good use of the metallization. “The gold really makes the product look rich,” said one judge. “The graphics are mouthwatering,” observed another member of the panel.

The packages created by Uflex incorporate a central layer in the laminate structure which is plasma metalized to significantly enhance the barrier properties of the composite laminate and this substantially extends the shelf-life of the packaged product.

Expressing his happiness over receipt of award, Mr. Ashok Chaturvedi, Chairman & Managing Director of UFLEX Ltd. said, “We are delighted to receive such an honor. The award is yet another milestone, symbolic of our commitment to provide innovative, end-to-end solutions to our discerning clients. At Uflex, our endeavor is to constantly adapt to the ever-changing needs of the consumers and provide them with packaging solutions that are innovative and at the same time are true reflection of a brand’s identity.”

Since inception of the company as Flex Industries Ltd in 1983, the company’s progressive growth has been recognized globally for the crucial breakthroughs in packaging by international awards, such as, DuPont Award for two consecutive years 2005 & 2006 for excellence in Packaging Engineering in Food & Beverage category; award for top exporter of BOPP film by the Plastics Export Promotion Council 2002-03; award for second best exporter of Polyester film by the Plastics Export Promotion Council 2002-03, among others, to name a few. Recently, Mr. Ashok Chaturvedi, Chairman & Managing Director, UFlex Limited was conferred with the much coveted Outstanding Entrepreneur Award at the Asia Pacific Entrepreneurship Awards (APEA) 2010 India.

UFLEX Ltd Q4 FY10-11 Net Profit Up 277% at Rs. 181 crore

Uflex Ltd, the Bombay Stock Exchange (UFLEX: 500148) and NSE listed, India’s largest flexible packaging company closed the financial year ended March 31, 2011 on a strong note registering an exponential growth of 266% increase in its consolidated net profit at Rs. 695 crore as against Rs. 190 crore for the corresponding period last year, on the back of strong demand trends globally and increasing manufacturing capacities across its facilities in Egypt,  Mexico, Dubai and India.
Maintaining a consistent record of highest growth by any company in the sector so far in a quarter, Uflex registered a growth of 277% in its consolidated net profit for the fourth quarter ended March 31, 2011 at Rs. 181 crore as against Rs. 48 crore for the same period last year.
The firm’s consolidated revenue for the March quarter of 2010-‘11 stood at Rs. 947 crore as against Rs. 679 crore for the same quarter last year, up 40 %.
For the Financial Year ended March 31, 2011, UFlex recorded net revenue at Rs.3410 crore compared Rs.2314 crore in the same period in previous fiscal, up by 47%.
According to Mr. Ashok Chaturvedi, Chairman and M.D. of UFLEX Ltd, “Demand for flexible packaging in India is expected to continue to grow sharply and we remain focused on delivering quality products which has translated in to strong financial results and successful long term relationships globally. UFLEX posted strong volume growth in both its Packaging products and Films Businesses, this quarter. Volume in international operations increased and with the commencement of operation of our expansion facilities in  India, Mexico & Egypt during the year, we are expecting a further volume growth and Rs 4,500-crore revenue by end-this fiscal”.
Expansion Plans
Uflex recently initiated the setting up of a new plant for manufacturing of 30,000 MTs of polyester film at Poland. The company will set up the plant in Wrzesnia in Poland with an investment of $80 million (around Rs 360 crore), which is expected to be operationalised by June 2012.
The Company has recently announced plans to invest Rs 380-crore to set up a polyester films plant in Kentucky, US with an annual capacity of 30,000 metric tonnes. The US facility will start production by December 2012.
In Mexico, the company is implementing expansion of PET film capacity by 30000 TPA which is expected to be completed by June, 2011.

In Egypt, the Company is ramping up production capacities for BOPP films (Bi-axially Oriented Poly Propylene film) to 35,000 TPA; 30000TPA of PET (Polyester) and 12000TPA of CPP films aggregating to total capacity of 77,000 TPA. The company’s planned investments in Egypt are pegged at US$ 135 million. This facility has trade pacts with GCC nations, Southern Europe & Africa, Middle East, West Asia and CIS to access larger markets.
The first phase of this expansion involving added capacities in BOPP films has already commenced operations, while the second phase of setting up facilities for PET and CPP films is expected to be completed by the 3rd quarter of FY 2011-12.
With plans of new manufacturing lines and corresponding investments UFLEX is all set to achieve the next milestone of touching the $1 billion revenue mark by FY 2012 – the first company in the flexible packaging sector in India to achieve this milestone.