Cosmo Films reports Q4 PAT of Rs 27 Cr and Net Revenue of Rs 2,156 YF19 (YoY)
COSMO Films Limited, a global leader in films for packaging, labelling & lamination applications and synthetic paper recently declared its financial results for the quarter ended March 31, 2019.
Q4 FY19 net revenue increased by 10% on YOY basis backed by 6% increase in sales volume, pass through of raw material prices and favourable product mix changes. The company achieved its highest ever quarterly EBITDA of Rs 58.4 crores during the quarter. BOPP films margins improved during the quarter due to better demand and supply balance in domestic segment. This together with growth in speciality films sales and continued improvement in operational efficiencies contributed to improved results.
For the full year, higher sales volume(up by 5%), sales growth in specialty and operational improvement at USA subsidiary resulted in higher EBITDA at Rs. 181.4 crores even though the domestic BOPP films margins were subdued in first three quarters. However, PAT in FY 18-19 came out to be marginally lower because there was zero tax incidence in FY 17-18 due to one-time tax adjustment.
Commenting on the financial performance of the company Mr. Pankaj Poddar, CEO, Cosmo Films Ltd. said, “Better demand and supply balance in the domestic segment during the quarter saw BOPP margins going up in the quarter but they still remain below the normalized level. The company is investing on an on-going basis on various research projects; some of these projects have started yielding results while many others are expected to come on stream in the next two years.” Established in 1981, Cosmo Films Limited today is a global leader in speciality films for packaging, lamination and labeling applications.
Uflex opens pyrolysis plant, plans recycling factory
INDIA'S largest flexible packaging firm Uflex Ltd. is launching two environmental initiatives, investing about Rs. 50-mn in a pyrolysis plant at its Noida site to turn plastic film waste into oil and gearing up to open a plastics recycling facility. The company said the pyrolysis operation, which has the capacity to process 6-tpd (tonnes per day) of waste from the factory's film and packaging lines, is in line with the government's Plastics Waste Management Rules 2016. The rules call for responsible disposal of plastic waste and put producers and generators of such waste under an extended producer responsibility (EPR) plan. Uflex Chairman Mr. Ashok Chaturvedi said it is part of wider environmental plans underway. He said the company's customers in the FMCG sector are pushing for more recyclable or biodegradable packaging. Pyrolysis is commonly used to convert organic materials into liquid fuel, gases and solid residue containing carbon black. Uflex said it processes a mixture of 70% biaxially oriented polypropylene film and 30% polyester film to generate 45% oil, 45% gas and 10% carbon black. While the Noida plant generates about 10 tonnes of laminated waste daily, about 6 tonnes are being used for the production of alternate fuels. Uflex said it is the first Indian plastics processor to install a pyrolysis operation inside its facility. The firm also plans to set up a dedicated plastics recycling site in Noida or nearby.
Global packaging materials market to grow by a CAGR of over 3%
THE global packaging materials market size was estimated over US$ 900 billion in 2016 and will exhibit growth by a CAGR of over 3% up to 2024, according to a study by Global Market Insights.
Rigid plastics: A major material segment
The global packaging materials market has been segmented according to materials into paper & cardboard, rigid plastics, metal, flexible plastics, glass, wood, textiles, and other niche materials such as foams, leather, etc. Rigid plastics is a major material segment which will gain by a CAGR exceeding 3.5% during the forecast period. This segment's market will be augmented by the increasing demand for polyethylene terephthalate (PET), high-density polyethylene (HDPE), and polyvinyl chloride (PVC) bottles for packaging drinking water, soft drinks, juices, etc.
Rigid plastic materials are also extensively used to pack processed food products, cosmetics, pharmaceuticals, household products, etc.
Bottles & cans account for nearly 20% of the market
According to product, the global packaging materials market is segmented into bottles & cans, containers & jars, bags, pouches, & wraps, closures & lids, boxes & crates, drums & intermediate bulk containers (IBCs), and other packaging structures such as bins, trays, etc. Bottles & cans are a major product segment accounting for close to 20% of the overall market in 2016. They are employed in packaging a broad range of products including beverages, chemicals, household products, personal care products, pharmaceuticals, etc. Increasing demand for beverages across the globe will drive this segments market during the forecast period. Closures & lids product segment will gain by more than 3% CAGR during the forecast period. These products are used to cover and seal other packaging products such as containers, bottles, cans, etc. Although rigid plastic is the most widely used material for these products, metals, glass, wood, and paper-based closures & lids are also available in the market. High growth in the food & beverage packaging industry coupled with rising demand for household and personal care products will propel this segment's growth during the forecast period.
F&B industry dominates the end-user segment
The global food & beverage industry size exceeded US$ 4.8 trillion in 2016 and will grow by a CAGR of around 4% in the next five years. This enormous size of the global food & beverage industry coupled with a steady growth rate in the next few years will be the major factor behind the packaging materials market growth during the forecast period. Rising packaged food demand across all regions of the world will augment the food end-user industry segment. Rising popularity of frozen and raw meat products, dairy products, and seafood will also contribute towards this segments market growth. High consumption of alcoholic and non-alcoholic beverages will also be a major growth enabler for the market. Alcoholic drinks such as beer, whiskey, wine, etc. are packed in glass, metal as well as rigid plastic bottles. Glass and rigid plastic bottles are also widely used in packaging non-alcoholic beverages such as soft drinks, energy drinks, juices, etc. Household products is a key end-user segment which will gain by more than 4.5% CAGR during the forecast time frame. Rising demand for household cleaners, detergents, and other sanitary items will augment this segment's market. The global household cleaners market value was more than US$ 25 billion in 2016 and will exceed 35 billion by 2024 gaining by a CAGR close to 4%. Rising demand for personal care products will also have a positive impact on the packing materials market growth. Rising income levels of consumers in emerging economies and willingness to spend on personal grooming will increase beauty and skin care products' demand in coming years. The global personal care products industry will surpass US$ 600 billion by 2024 and will drive demand for packing materials during the forecast period.
North America and Europe: Important packing materials markets
North America is a mature packing materials market and was valued above 500 billion in 2016. An increasingly urban lifestyle in the U.S. coupled with changes in the eating patterns of consumers will drive demand for packing materials in the country. Rising consumer preference for the consumption of processed, ready-to-eat food items will augment the regions packaging materials market. The North American region is characterized by a high volume of international and regional trade. Increasing exports from the U.S. to other regions of the globe will also help the North America packing materials market growth. Europe accounted for more than 20% of the overall packing materials market in 2016 and this share will increase during the forecast years. Russia, Germany, France, and UK will lead the European industry owing to the mature food, beverage, and household products market in these countries. Although eastern European countries will have lower share of the market compared to the other developed countries in the region, their growth rates will be higher owing to a greater potential for market penetration.
HP sees great financial prospect in customized packaging
AS the end consumers' behaviors, which closely affect how a product is packaged, are dramatically changing, the packaging market is having increasing demand for customized, multi-version and rapid time-to-market products.
However, packaging converters may not be able to meet today's needs for flexible, on-demand customized production as their existing lines are primarily designed for the mass production of single products. As a response, HP Inc. provides corresponding solutions to fulfill these needs.
Presenting multiple printing possibilities
HP is bringing new ideas and ways to a traditional industry like packaging during CHINAPLAS 2019.
According to Eve Cai, China Market Development Manager of HP Inc., the company is displaying the HP Indigo 20000 digital press, a leader of its kind in China, at CHINAPLAS 2019. Presenting multiple printing possibilities, this machine enables packaging converters to deal with complicated market requirements with ease and high efficiency, such as short runs, varied SKUs, and customized campaigns.
The HP Indigo 20000 digital press is said to be built for all kinds of flexible packaging printing applications including food bags that meet EU and US-FDA guidelines. Applicable to all types of thin-film substrates, it allows for multi-color printing. The digital press' maximum web width is 76cm (30 inches). It supports 7-color and ElectroInk White printing and can print on synthetic substrates with a thickness from 10-250 microns (0.4-10 pt.). In addition, its mid-web format makes it possible to freely produce any packaging and label application (including large labels, IML and shrink sleeves) as well as increasing the label production. “The digital press fits flexible packaging and label printing production. It is a digital color printing process that matches gravure quality and is safe for primary food packaging. It makes small orders, short runs, and the printing production of customized packaging labels realistic. It speeds up lead times and reduces waste and carbon footprint by producing in a more environmentally friendly way,”said Ms Cai.
Changes in the consumer market
In the market of China, as the middle class is trading up, the young generation is having different consumption habits, and mobile internet is up and coming, people's consumption behaviors and awareness are being rapidly changed.
Ms Cai stated that the popularity of the internet has promoted the development of PC-end internet, while the increasingly mature 3G/4G market has resulted in the birth of all kinds of mobile-end applications. These developments have changed people's living and consumption behaviors and habits. In future, it is certain that the 5G mobile development will lead the industry to develop towards the Internet of Everything (IoE), move Industry 4.0 forward, and achieve automated, on-demand production.
Meanwhile, according to HP's big data, in the five years between 2016 and 2021, the personalized gift market will grow by 55% to USD31 billion in value. In addition, 25% of consumers are willing to share their personal data in exchange for personalized experiences, 50% of the Z generation (born after mid-1990s and before 2010) wish to possess personalized products in order to satisfy their desire to express their own personality, and 70% of consumers are willing to pay 10% more money for personalized products.
“HP Indigo digital presses are always at the forefront of industrial development. Since several decades ago, we have been constructing equipment and platform processes that are fit for factories of the future. As the end consumer products market and the packaging market change, we will go on to provide high efficiency and innovative solutions,” said Ms Cai.
Expanded automotive aftermarket portfolio by Avery Dennison
A significantly expanded automotive toolkit is showcasing at this year's Avery Dennison FESPA stand. Additions to the range include three new Supreme Wrapping™ Film colours, a new option for paint protection and a comprehensive range of automotive window films.
Oliver Guenther, senior director, Marketing and Channel Strategy, said that emotional appeal and 'wow' factor were the driving forces behind the three new bold and seductive Supreme Wrapping Film colours: “These gloss and satin metallic additions to our flagship wrap range take us to well over 100 different colours, offering installers an enormous breadth of creative choices – with colour matching also available for special projects. As with all films in the range, the benefits include superb conformability, repositionability and slideability, saving valuable installation time, and excellent long-term removability.” The new colours in the range are SWF Gloss Metallic Fun Purple, SWF Gloss Metallic Passion Red and SWF Satin Metallic Energetic Yellow. For users who want to protect their vehicle's paint against many of the challenges of the road, and maintain peak value, Avery Dennison is launching a medium to long-term Pure Defense Series that complements the existing Supreme Protective Films Series. Oliver Guenther: “Our premium Supreme Protection Film XI (SPF-XI) is an outstanding option for damage prevention, with an ambient temperature 'self-healing' topcoat and up to 10 years' UV resistance. It sets a 'gold standard' for ease of installation, and for vehicle looks and longevity. This new Pure Defense Series is a welcome addition, opening up new markets by offering a cost-effective solution to protecting both vulnerable areas on vehicles and also high-wear areas in premises, such as reception desks. It also up to 8 years' durability on vertical surfaces.” Completing the range of automotive solutions is the new Avery Dennison Automotive Window Films portfolio – three different ranges for solar protection, occupant's comfort and extra passenger privacy. Oliver Guenther: “This is a major new set of films for installers, allowing them to fine-tune all aspects of vehicle window appearance, thermal performance and safety. All of the films in these ranges allow installers to select the appropriate light transmission levels for their particular application.” Avery Dennison AWF HP Pro is a premium automotive window film range with outstanding shrinkage performance, quick drying time and ease of handling, along with the superior solar performance that comes with 4 visible light transmission levels. Avery Dennison AWF HP is a cost-effective film range that also offers very good solar performance. Adding protection from shattered glass is made possible by using Avery Dennison® AWF HP Safety.
Battenfeld-Cincinnati offers new pilot plant line for packaging Industry
THE latest addition to the battenfeld-cincinnati Germany GmbH pilot plant in Bad Oeynhausen is a multifunctional thermoforming sheet line. The complete extrusion line is equipped with cutting-edge machine components and can produce sheets and thin boards made from new materials, recycled materials, bioplastics, and combinations of materials. “The new pilot plant line will enable our customers to develop new types of sheets or optimize their existing products – something that is becoming increasingly important in the context of “design for recycling”,” says CTO Dr. Henning Stieglitz.
The core components of the pilot plant line are the high-speed extruder 75 T6.1, the STARextruder 120-40, and the Multi-Touch roll stack with a width of 1,400 mm. The three modern units clearly demonstrate that the specialist in sheet and board extrusion is com-mitted to developing and improving its individual components and, hence, its complete extrusion lines on a continual basis and is constantly adapting to changing requirements in the industry. The extrusion line comprises the two main extruders and a 45 mm co-extruder, each with a multi-component dispensing unit, melt pump, and screen changer, a feed block for B, AB, BA, or ABA layer structures, as well as the Multi-Touch roll stack with subsequent winder. Depending on the configuration, the line can achieve a maximum output level of 1,900 kg/h for PP or PS and around 1,200 kg/h for PET with line speeds of up to 120 m/min.
When pilot plant tests are carried out, the relevant machine components are combined in line with the product specification. If materials such as PS, PP or PLA are to be processed into sheets, the high-speed extruder is used as the main extruder. The tried-and-tested compact processing machine with a screw diameter of 75 mm and a processing length of 40 D is very energy-efficient and now offers better performance levels than ever before. High-speed extruders ensure optimum melt characteristics and enable rapid product changeovers. The STARextruder, on the other hand, is ideal for producing PET sheets from new or recycled materials. The single-screw extruder with central planetary roll section processes the melt very gently and achieves exceptional degassing and decontamination rates thanks to the large melt surface in the central section. “The STARextruder really comes into its own when processing recycled materials, as it reliably removes volatile components from the melt. When it comes to the possibilities that this system can offer in the context of the circular economy, there is still a huge amount of un-tapped potential,” says Dr. Henning Stieglitz.
The Multi-Touch roll stack ensures outstanding sheet quality regard-less of the raw materials used. The special functional principle of this type of roll stack means that the top and bottom of the sheet or board can be cooled almost simultaneously, thus achieving much better transparency and flatness. At the same time, the tolerances can be significantly reduced due to the increased number of effective nips. Reductions of 50% to 75% can be achieved. The two main precalibration rolls are arranged in a 45° position – ideal for PET processing. Many of the key issues facing the packaging industry at the moment relate to the recyclability of its products. Mono-products with a corresponding properties profile, alternative material combinations, or bioplastics are just some of the options being considered in the context of “design for recycling”. Dr. Stieglitz: “We are confident that the new pilot plant line will not only demonstrate our machine expertise in this sector, but will also provide our customers with a special service, enabling them to work together with us to produce and test optimized sheets under production conditions.” Battenfeld-cincinnati is a leading manufacturer of energy-efficient, high-performance extruders and complete extrusion lines according to customers' specifications.
Stylish dispenser is 'Pur' genius
AVAILABLE in 50ml and 100ml versions and with a smaller 40mm diameter, the top-filled Magic Pur dispenser combines an elegant and modern appearance on-shelf with user-friendly operation, delivering an accurate 1ml of product each time. It is able to handle creams and lotions of all types of viscosities, making it ideal for a variety of cosmetic and personal care applications.
Equally important, airless technology provides effective protection of sensitive ingredients, meeting the continuing trend for more natural products with fewer preservatives. To create maximum shelf appeal in crowded and competitive markets, the Magic Pur dispensers can be personalised to the requirements of individual brands through a choice of high-quality decoration options including printing, hot foil stamping, lacquering, metallisation, and labelling.
Further information from: RPC Bramlage GmbH Brägeler Straße 70 D-49393 Lohne Germany Tel: +49 (0) 4442 881 0 E-Mail: firstname.lastname@example.org www.rpc-bramlage.de
Sacmi supplies high-speed CCM24SB press line to Silafrica
SILAFRICA, a leading packaging supplier to East Africa and surrounding regions is also emerging as a leader in environmentally-responsible manufacturing solutions across the continent. The company recently introduced a new manufacturing process for beverage closures, which cuts energy consumption by more than 31% when compared to their previous injection molding process. Installed late last year for initial testing, the high-speed CCM24SB press line from Italian-based machinery manufacturer SACMI produces closures of higher quality at a lower cost. Extremely lightweight and requiring far fewer packaging materials, it is but another example of the Silafrica mission as a responsible global citizen. Located in the company's Tanzania facility, the new state-of-the-art high-speed rotary compression molding machine has the capacity to produce more than 400 million beverage closures annually for standard single and multi-use beverage bottles. Upon achieving commercial readiness of the equipment, Silafrica began producing closures for Coca-Cola, Pepsi and several large regional beverage brands who serve consumers throughout the greater East African region. Ideal for all forms of carbonated soft drinks, Silafrica's rotary compression molding operations can also produce closures for the full array of non-carbonated beverage formats, including energy drinks, juices, teas, and waters. “Rotary compression molding is a far superior process for producing high-speed, high-quality beverage closures at a much lower cost when compared to other processes,” commented Akshay Shah, Group Managing Director of Silafrica. “And the best part,” he adds, “is that the process yields lighter weight, one-piece closures that require less material and use much less energy to produce. For our many beverage customers, sustainability has become a top priority in their packaging strategy. As their valued supply chain partner, we are continuously improving our facilities and services to enable them to meet and exceed those goals.” When ranked on the basis of the average resident's age, Africa is the world's “youngest” continent with more than 60% of the continent's inhabitants under the age of 25. With 200 million consumers between the ages of 15 and 24, this key demographic represents a huge opportunity to win consumers' favor early and build long term preference among this loyal and brand conscious population. Growth-minded CPG brands have taken note, placing a greater emphasis on reaching the African marketplace, and doing so with a sustainability approach in mind. “Companies like Silafrica are ideally positioned to support global food and beverage brands with regional state-of-the-art resources that take reaching the African consumer from possibility to reality,” Shah comments. “Our rotary compression molding capabilities are just one example of our dedication to bringing best-in-class solutions to help brands reach the Africa marketplace in a manner that is both business and environmentally smart.” Environmental responsibility has been part of Silafrica's corporate culture from its earliest days. The company participates in numerous community service projects every year, has an extensive recycling program at each of its facilities, utilizes solar power, and regularly instructs its teams on sustainability best practices. An established packaging leader in the East Africa region, Silafrica is a trusted supplier to some of the largest food and beverage brands like Pepsi and Coca-Cola. Other notable customers include Diageo, Heineken, Unilever, SAB Miller, AB InBev, Daima and many more. Silafrica's three facilities strategically located throughout East Africa are all ISO 9001 Certified and FSSC 22000 Certified for food safety and quality standards, as well as Ecovadis, rated for sustainability. Each facility is also equipped with its own water and power supply, and is supported by a regional, highly-trained workforce. “Many customers who have in-house packaging production resources will work with us as part of their Business Continuity Plan,” explains Shah. “Given the brands we support, delivering to high-quality consistent standards and providing complete supply chain assurance is not the exception. Here, it is the rule, and one that we all take very seriously.”
SACMI – CCM24SB FEATURES
Cool Plus: A cooling device that reduces the temperature of the unit being created and the machine by enhancing airflow. The machine comes equipped with fans for circulating air among units being produced which is especially important for closures that are manufactured for the food industry. The machine also features a clear cover for greater visibility and dust protection. Quality Control Monitoring: The built-in CVS052D Vision camera system provides state-of-the-art quality control for plastic caps by detecting all visible defects during production including flashes, ovalization, incorrect dimensions, and other contaminations. The system is fully integrated into the compression molding machine and equipped with CVS3000 software for inspecting the internal side of the caps and is able to reject defective units, making production for Silafrica customers more efficient while maintaining high quality.