RF to Build New BOPET Film Plant in Hungary

SRF Ltd. has said it would invest around €60-mn for a new bi-axially oriented polyethylene terephthalate (BOPET) film factory it plans to build in the Hungarian city of Jászfényszaru, located 50-km east of Budapest.

The plant, which will create 100 new jobs, will have a BOPET film production line with a width of 10.4-m and a capacity at 40,000-tpa. Once production begins at the end of 2019, SRF’s plants will have a combined capacity of 220,000-tpa of BOPP and BOPET films, making it one of the biggest producers of both types of films.

In the financial year ending March 31, 2018, SRF generated sales of Rs. 55-bn, up 16%. EBIT totalled just under Rs. 8-bn, representing a 1% increase. The Packaging Films segment is the largest growth driver and also the most profitable division by far, outperforming its other business areas, such as Technical Textiles and Chemicals & Polymers. In the fourth quarter of 2017-2018 alone, revenues at Packaging Films climbed by 39% and the operating result increased by 94%. In the final quarter, SRF’s sales rose 22% and EBIT jumped 38%.