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Tuesday, October 20, 2020

Cosmo Films to set up a new line for Speciality Polyester (BOPET) Films

Cosmo Films, a global leader in films for packaging, lamination, labeling and synthetic paper has announced plans to re-commence the installation of a Speciality Polyester Films line (Biaxially-Oriented Polyethylene Terephthalate) by the second quarter of 2022-23.

The new line will be commissioned at the Waluj plant site in Aurangabad, Maharashtra, India with a capacity of 30,000 MT 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 MT per annum and allow Cosmo Films to offer a more comprehensive speciality product basket for flexible packaging, labeling, lamination and industrial applications.

The project cost is estimated to be Rs 300 crores, which will be financed through a mix of internal accruals and loans. The company’s key financial parameters for the quarter ended June 2020 are well placed – Debt/EBITDA @ 1.8 times and net debt to equity @ 0.7 times.

Pankaj Poddar, CEO, 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/EBIDTA and other financial ratios expect to remain in a comfortable range even post the capex.”

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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.

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