Uflex rises 7% as global arm FlexFilms gets US patent for film packaging

Shares of Uflex rose as much as 6.8 per cent to Rs 297 apiece on BSE in the intra-day trade on Tuesday, after the company announced that FlexFilms has been granted US patent for film packaging.

Shares of Uflex rose as much as 6.8 per cent to Rs 297 apiece on BSE in the intra-day trade on Tuesday, after the company announced that its global film manufacturing arm, FlexFilms 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 patent was issued to Flex Films (USA) Inc on November 20, 2018 for period of 20 years, lending a competitive advantage to the Films Business of the company over its opponents in the 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 uniqueness of forming characteristic of BOPET film in direction during packaging application.

FlexFilms is the global film manufacturing arm of India's largest multinational flexible packaging solutions company, Uflex Limited. With State-of-the-Art film manufacturing facilities in all the 4 major continents Asia, Europe, North America and Africa, cumulative production capacity stands in excess of 337,000 MT Per Annum. 

Some of Uflex's clients on the global turf include P&G, PepsiCo, Tata Global Beverages, Mondelez, L'Oreal, Britannia, Haldiram's, Amul, Kimberly Clark, Ferrero Rocher, Perfetti, GSK, Nestle, Agrotech Foods, Coca-Cola, Wrigley, Johnson & Johnson amongst others.

At 10:45 am, shares of Uflex were trading 5.69 per cent higher at Rs 294.6, as compared to a 0.32 per cent decline in the S&P BSE Sensex.