A – 107 - 108, Sector - IV,
Noida 201301 (U.P.), India
Tel: +91 120 4012345
Fax: +91 120 2556040
Sales: $110 million in ink sales; $1 billion sales (consolidated).
Major Products: Uflex is India’s biggest multinational flexible packaging materials and solutions company. Its Chemicals Business manufactures liquid inks (solvent & water-based); laminating adhesives (water-based, solvent- and solvent-less); ink binders and specialty coatings (UV/UV LED/EB).
Key Personnel: Rajesh Bhasin, joint president, Chemicals Business, Uflex; Anuj Arora, CFO, Chemicals Business, Uflex; Rajesh Srivastava, VP sales and marketing, Chemicals Business, Uflex.
Locations: Headquartered in Noida in India, Uflex has manufacturing facilities in UAE, Egypt, Mexico, Poland and Elizabethtown, KY, USA.
Comments: Uflex is India’s largest fully integrated multinational flexible packaging materials and solution provider, with its products being supplied to more than 140 countries. Founded in the mid-1980s, Uflex is one of the fastest-growing companies in India. Uflex today is a billion-dollar entity focusing on trust and innovation to create value-added differentiation, quality and customer satisfaction.
For the full year 2018-19, Uflex’s consolidated net revenue grew 18.5% to INR 7974.8cr ($1.147 billion) and EBITDA increased by 11.6% to INR 1007.5cr ($145 million).
“We worked diligently towards combating the headwinds that came along this fiscal and remained successful in leading the market with our innovations and product offerings,” Ashok Chaturvedi, chairman and managing director, Uflex Limited, said. “We have been highly focused on the challenge of multi-layer plastic recyclability and have developed a technology that converts different layers of multi-layer packaging waste (printed, laminated and metalized) into granules. The latest technology-enabled recycling machine was installed at our Noida plant, this quarter.
“The flexible packaging industry continues to evolve with changing consumer expectations and among the most prominent are sustainability and customization,” Chaturvedi added. “With solutions for waste plastic being created, we are confident of the demand for flexible packaging growing further in the coming years.”
With $120 million in sales in 2018, Uflex’s Chemicals business is a leader in packaging inks, adhesives, coatings and its wide range of water-based solutions. The business occupies a leadership position in inks and adhesives in its chosen markets.
Rajesh Bhasin, Jt. president, Chemicals Business for Uflex Limited, noted that Uflex is continuously expanding its product portfolio. Uflex Chemicals is continuously investing in research and has several interesting products in its pipeline. Several of its scientists are engaged in the creation of eco-friendly products and plans to add a completely new range of products in its water-based portfolio.
“Innovation is ingrained in the DNA of our company and a significant investment in R&D has facilitated the creation of some of the most innovative products,” Bhasin observed. “We now rank amongst the top ink and adhesive manufacturers of the world.
Continuous backward integration, developing newer technologies and offering solutions to the unique needs of the converters has helped Uflex Chemicals gain clients’ confidence.”
The Chemicals Business of Uflex has launched a variety of innovative inks during the past year. Flexglide 1817 is a new PU-based NTNK ink series for Alu Alu blister packing for the pharma industry. Flexglide 1817 complies with the requirements for Alu Alu packaging, and exhibits excellent adhesion and high bond strength. It meets the Swiss Printing Inks Ordinance regulating substances intended for use in printing inks that are not intended to come into direct contact with food.
“We are committed to offering the finest solutions to converting industry under one roof and this is another step in that direction,” said Bhasin. “Our R&D team is completely geared up to meet distinctive requirements of converters and we shall continue to create the finest solutions for the industry.”
Uflex Chemicals also launched FlexGreen, its new range of UV LED sheetfed inks for commercial printing and packaging. FlexGreen offers high color strength, excellent mileage and gloss as well as quick curing.
“UV LED curing is a next-generation technology, compared to conventional curing technologies. With the introduction of these inks we are part of a select club of ink producers, offering the latest and finest in technology to Indian printers,” said Bhasin.“It is indeed a matter of pride for us to be amongst the first few globally to produce these inks and coatings. This new addition will help widen our portfolio and effectively address developed global markets.”
The availability of raw materials in the last few quarters was indeed a matter of concern for ink manufacturers and the sudden shortages only added to the existing challenges. However, Uflex’s ability to foresee such challenges well ahead of time helped it mitigate associated risks. Its long term strategic relationship with key vendors ensured that it received all that it required to fuel growth.
The Chemicals Business of Uflex has undertaken several important initiatives related to natural resource conservation, energy efficiency, the introduction of several eco-friendly products, responsible consumption and production, stakeholder and employee engagement. Bhasin said that substantial investment in EHS over last few years has allowed it to create one of the safest chemical production sites and has contributed significantly to the environment protection by substantially reducing the generation of hazardous waste and water consumption.
Upon completion of an extensive occupational health and safety evaluation, the Chemicals Business of Uflex Limited successfully migrated to ISO 45001:2018. ISO 45001 is structurally an integration of other ISO management systems standards, including ISO 9001:2015 and ISO 14001:2015 attained by the business earlier.
“It is our prime responsibility to continuously improve health and safety standards in our plants and workplaces that allows our employees to stay healthy, safe and productive,” said Bhasin. “ISO 45001:2018 will help our business to achieve the intended outcomes of its OH&S management.”
Bhasin noted that 2018 was a year of consolidation for Uflex’s Chemicals Business. During this period, Uflex not only consolidated its position in its chosen markets and clients but also aggressively pursued its strategic presence in newer markets in the Middle East and Africa, and the company has a very positive outlook towards its performance in 2019 and is confident of maintaining the growth momentum.
“The business has extensively increased its reach and growth in its chosen markets,” Bhasin concluded. “It has grown remarkably in its markets in Africa and the Middle East. The introduction of UV LED inks and coatings for offset application in our portfolio has further expanded our product range, setting up an all-new market for the same. Russia is one of the key markets where we look forward to expanding our business base.”