2/11/2017 0 Comments
Our Manufacturer, MAX Specialty Films and partner in BOPP, coated BOPP, OPET & 2 side coated films Joint Venture announcement
Our Manufacturer, MAX Specialty Films and partner in BOPP and coated BOPP, OPET and 2 side coated films JV announcement
The boards of Max Ventures and Industries (MaxVIL) and Max Specialty Films (MSF) today approved the induction of Toppan Printing Co. Ltd, Japan (Toppan) as a Joint venture partner with a 49% stake in MaxVIL’s flagship manufacturing business, Max Specialty Films (MSF).
As MaxVIL makes early strides in its career, we seek inspiration in the remarkable successes of various Max Group businesses. In its long journey of over three decades, Max Group has had a remarkable history of successful joint venture relationships. In early stages of Max Group we had great associations with Toyo Jozo (Japan), Motorola (USA), Hutchison Whampoa (Hong Kong), Lockheed Martin (USA), Royal Gist Brocades (The Netherlands) and Schering (Germany). After the reinvention of the group in 2001, we have had highly successful partnerships with New York Life (USA), Life Healthcare (South Africa), Bupa Plc (UK) and Mitsui Sumitomo(Japan). These relationships have stood the test of time and been crucial in the success of our Group.
In that spirit, this relationship of Toppan is in continuation of our Group’s rich history of highly successful joint venture associations. As part of the partnership, Toppan will invest Rs. 200 crore, through a combination of primary and secondary share issue. The funds will be used by MSF for ongoing capacity expansion.
This strategic partnership between MSF and Toppan will allow MSF to expand its presence in domestic and international markets and to benefit from Toppan’s technical expertise and its wide global sales network. Similarly, an association with MSF will allow Toppan to strengthen its global presence especially in Asian markets. Toppan, which is a large global buyer of BOPP products (MSF’s key offering), will also serve as a customer of MSF.
Established in 1900, Toppan is a pre-eminent multinational firm. With over 180 international subsidiaries and associates, it is renowned for technical finesse and service quality. Toppan has three business segments-- Information and Networks, Living Environment and Electronics. The Living Environment category includes Toppan’s operations in high barrier flexible packaging solutions catering to medical, home & personal care, food & beverage segments.
This strategic alliance underlines our commitment to grow MSF. In a lot of ways, MSF epitomizes all that is good about the Max Group. It is a part of early stage of the entrepreneurial journey of our honorable Chairman. Work ethic of our staff, constant support of our customers, our relationship with our suppliers and association with our partners has earned MSF a deserved reputation of credibility and excellence, values that mark the ethos of Max Group.
As a treasured partner of ours, we appreciate and warmly acknowledge the significant role that you have played in MSF’s success thus far. Now as we move on to the next phase of our journey, I invite you in welcoming the Toppan Group. It is an important step in MSF’s pursuit of emerging as a front-rank player in the global packaging industry and I look forward to your continuing support and association.
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