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    Top Companies Report

    UFlex

    ...

    UFlex
    07.14.22
    A – 107 - 108, Sector - IV,
    Noida 201301 (U.P.), India
    Tel: +91 120 4012345
    www.uflexltd.com
    Email: enquiry@uflexltd.com

    Sales: $136 million in ink sales; $1.75 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, UFlex Chemicals Business; Rajesh Srivastava, SVP sales and marketing, Chemicals Business; Anuj Arora, CFO, Chemicals Business.

    Comments: With sales of more than $1.75 billion worldwide, UFlex is India’s largest fully integrated multinational flexible packaging materials and solution provider. UFlex Chemicals Business is a leading manufacturer of flexible packaging Inks, water-based, solvent-less and solvent-based adhesives and specialty UV and LED coatings with the full range of UV and LED inks/coatings for sheetfed offset, letterpress & narrow web application serving customers across the globe.
    Rajesh Bhasin, joint president, UFlex Chemicals Business, said that 2021 was an excellent year in spite of the challenges the ink industry faced.

    “At UFlex Chemicals, we performed distinctively well despite serious market disturbance in the eco-system,” Bhasin said. “We continued to win new clients across regions and expanded our product distribution network to feed newer geographies. We focused and initiated business in newer geographies and looked back at 2021 with a great sense of satisfaction.

    “We could deliver this performance only due to our strong focus and commitment to meet client’ needs,” added Bhasin. “We have further been able to strengthen our position as a preferred supplier in the Asian, Middle East and East European markets and are confident to build further in the future.”

    R&D is crucial to UFlex’s success. During the last fiscal year, UFlex Chemicals Business successfully introduced a series of newer chemistries and products that enhances its sustainable footprint.

    “We have developed products with low volatile organic compound (VOCs) content by focusing on water-based and LED/UV based technology,” Bhasin noted.

    Some of the recently developed products by chemicals business include FLEXCOAT AQUABAN, a water repellent coating for Kraft paper used as an inner liner in corrugated boxes, and Flexcure Sheetfed MT series, a new generation of UV inks for metal decoration designed for printing on aluminum and tin plate sheets. In addition, the new FLEXCURE HFS is a free-radical chemistry-based UV coating varnish for in-line/offline application.

    Bhasin said that 2022 is proving to be difficult for the packaging industry, as raw material uncertainty, transportation concerns and political unrest are making it challenging for the industry.

    “In the year so far, the packaging industry has witnessed major challenges that includes force majeure by several large chemical producers, skyrocketing logistics costs, rising crude oil prices, and geopolitical unrest resulting in severe cost increase,” he observed. “While raw material prices are surging, we expect price increases to continue until the end of the year.

    “On the other hand, we are also expecting strong demand from consumers to continue over the next couple of quarters,” Bhasin added. “The extent to which we will be able to pass the burden to our buyers will vary from one product to the other.”

    Bhasin noted that UFlex undertook significant steps to ensure that its supply chain would be minimally affected.

    “Two key concerns, like every other business, include uninterrupted feedstock price rise and seriously disrupted global supply chain,” Bhasin noted. “Fortunately, significant intellectual investment made by us over the years in supply chain operations have helped us sail through these times smoothly, which is commendable. Our active vendor engagement and a committed workforce ensured uninterrupted operations.”

    Even in the face of these challenges, Bhasin sees opportunities ahead for UFlex.

    “The world is experiencing extreme volatility in every sector and packaging is no different,” Bhasin noted. “We expect the struggle to continue for some more time before it stabilizes. Currency devaluations, rising crude oil prices and certain geo-political developments are expected to impact the businesses hard, but this adversity will also likely throw up opportunities for growth. We shall continue to work harder and collaborate with our stakeholders to ensure that we sail through these tough times and emerge stronger.” 
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