Indian conglomerate SRF (Gurgaon, Haryana; www.srf.com) said it would invest around EUR 60m for a new 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 an annual capacity of 40,000 t. Once production begins at the end of 2019, SRF’s plants will have a combined annual capacity of 220,000 t of BOPP and BOPET films, making it one of the biggest producers of both types of films.

In the financial year ending 31 March 2018, SRF generated sales of INR 55 bn (EUR 720m), up 16%. EBIT totalled just under INR 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 financial year 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%.