Moneycontrol
Last Updated : Dec 04, 2018 03:05 PM IST | Source: Moneycontrol.com

Uflex gains 6% on US patent to subsidiary for BOPET film

With the patent issuance, the company gets exclusive right of manufacturing & sale of this special BOPET film in US, Europe and India.

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Uflex shares rallied 6.5 percent intraday Tuesday on receiving patent from the United States for BOPET film.

"FlexFilms, the global film manufacturing arm of Uflex, has been granted United States Patent covering entire categories of formable films that include one or more BOPET layers used in Alu Alu blister packaging," the multinational flexible packaging materials and solution company said in its filing.

The patent US 10131122 was issued to Flex Films (USA) Inc on November 20 for a period of 20 years, lending a competitive advantage to the films business of the company over its opponents in cold formed pharmaceutical packaging industry.

With the patent issuance, the company gets exclusive right of manufacturing & sale of this special BOPET film in US, Europe and India.

"This patent has a uniqueness of forming characteristic of BOPET film in Z direction during packaging application," the company said.

With this innovation in pharma packaging and particularly for Alu-Alu blister laminate structure, BOPET film has completely replaced the carcinogenic PVC, it added.

Rajesh Bhatia, Global CFO of the company told CNBC-TV18 that the market size of the patent is 20,000-22,000 tonne per year in India.

"We will require additional capex of Rs 200 crore for this product and we expect revenue of around Rs 500 crore," he said, adding the company will be eyeing global markets as well, for this product.

At 14:52 hours IST, the stock was quoting at Rs 290.15, up Rs 11.40, or 4.09 percent on the BSE.
First Published on Dec 4, 2018 03:01 pm
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