Log In

 

Company Name : Max Ventures & Industries Limited (MaxVIL)

Wednesday, July 12, 2017 12:40PM IST (7:10AM GMT)

(NSE:MAXVIL)

Max Speciality Films Appoints Ramneek Jain as New CEO


New Delhi, Delhi, India

Max Speciality Films Limited (MSFL) today announced the appointment of Ramneek Jain as the Chief Executive Officer (CEO) of MSFL with effect from 11th July 2017. Ramneek is a seasoned business leader with over 23 years of rich experience across manufacturing organisations in India and the US.
 
Mr. Jain joins MSF after a 12-year stint at Anand Group, where he last held the position of Senior Vice President and Chief Operations Officer at Spicer India Limited, a subsidiary of the Anand Group. In this role, he managed company-wide operations and led an intensive cost restructuring exercise improving the company’s expense model, delivering returns on sales of more than Rs. 1,000 crore.
 
Prior to Spicer India, Mr. Jain was with MAHLE Filter Systems India (MFSI), a 50:50 joint venture between Anand Group and Germany-based MAHLE GmbH, where he spent more than 8 years and became the company’s Chief Operating Officer. At MFSI, he steered sales of Rs. 600 crore and managed five plants with 1500 employees. During his tenure, the company doubled its profits consecutively over two years. He also spent 6 years with General Motors in USA, early in his career.
 
Commenting on Mr. Jain’s appointment, Sahil Vachani, Managing Director and CEO, Max Ventures and Industries Limited said, “Ramneek is joining MSFL at a critical juncture when the company is poised for a new phase of growth and expansion. We are close to completing a significant capacity augmentation exercise with the imminent launch of MSFL’s new production line in 2018. We also have a new strategic partnership with Japan-based Toppan Group, who recently joined us as a joint venture partner in MSF with an investment of nearly Rs. 200 crore. We hope that Ramneek will bring in a fresh perspective and vision to help MSF scale new heights and nurture our nascent relationship with the Toppan Group.”
 
MSFL’s incoming CEO Ramneek Jain added, “I am honoured to be part of the Max Group, which has a proven track record of success in various lines of businesses and nurturing long-term partnerships with global enterprises. Over the past few years, Max Speciality Films has emerged as an industry leader in innovation and with strategic support from the Toppan Group, I am confident the company will be able to develop cutting-edge capabilities to push technology and produce world-class packaging. I look forward to leading MSFL through this exciting new journey.”
 
Mr. Jain holds an Executive Management Programme degree from MIT, Boston, a Master’s degree in Strategy and Planning from Kelley School of Business, USA, an MBA from Thunderbird School of Global Management, USA and a Bachelor’s degree in Mechanical Engineering from Manipal Institute of Technology. His wife Neha is a teacher and they have two children, Kalash and Khushi.
 
MaxVIL is the newest entity in the Max Group of companies that came into existence after the erstwhile Max India Group was demerged into Max Financial Services Limited, Max India Limited and Max Ventures and Industries Limited (MaxVIL). MaxVIL has four distinct business verticals Max Speciality Films (Manufacturing), Max Estates (Real Estate), Max Learning (Education) and Max I. (providing intellectual and financial support to high-potential start-ups). MaxVIL is listed both on BSE and NSE. Other investors in MaxVIL include Morgan Stanley and Reliance Mutual Fund.

About Max Ventures and Industries Limited
 
Max Ventures and Industries, is the holding company of Max Speciality Films, an innovation leader in the Speciality Packaging Films business. In addition to manufacturing, the Company also serves as the Group’s entrepreneurial arm to explore the ‘wider world of business’, especially taking cues from the economic and commercial reforms agenda of the present Government, including ‘Make in India’, ‘Skill India’, ‘Digital India’, among others. With this vision, MaxVIL has incorporated three new subsidiaries, which are Max Estates, the real estate arm of the Max Group with the vision to bring the Group’s values of Sevabhav, Excellence and Credibility to the Indian real estate sector, Max I. Limited, a fully owned special purpose vehicle, will facilitate Intellectual & Financial Capital to promising and proven early-stage organizations across identified sunrise sectors and Max Learning Limited, which is focused on the education sector.

MaxVIL is listed on both the Bombay Stock Exchange as well as the National Stock Exchange. As on date, MaxVIL has 7,24,33,552 outstanding shares at a face value of Rs. 10 per share. The current promoter shareholding in MaxVIL is 38.21%.
 
About Max Group
 
The Max Group is a leading Indian multi-business conglomerate with a commanding presence in the Life Insurance, Health & Allied businesses and packaging sectors. In FY2017, the Group recorded consolidated revenues of Rs. 16,798 Cr. It has a total customer base of 9 million, nearly 240 offices spread across India and people strength of 22,500 as on 31st March 2017. The Group’s investor base includes marquee global financial institutions such as Goldman Sachs, KKR, IFC Washington, Fidelity, Vanguard, Ward Ferry, New York Life, Wasatch and Invesco.
 
The Max Group comprises three holding companies, namely Max Financial Services, Max India and Max Ventures & Industries.

For further information, please visit:

Max Group: www.maxgroup.net
MFS: www.maxfinancialservices.com
Facebook: https://www.facebook.com/themaxgroup
Twitter: https://mobile.twitter.com/maxgroup


Click here for Media Contact Details

Nitin Thakur, Max Ventures & Industries Limited (MaxVIL), +91-9873347428, nthakur@maxindia.com

Jayant Singh, Max Ventures & Industries Limited (MaxVIL), +91-9999162213, jsingh@maxindia.com

Vidhi Nangia, Text 100 , +91-9971898772, vidhi.nangia@text100.co.in

Swati Guwalani, Text 100 , +91-9873220117, swati.guwalani@text100.co.in


More News from Max Ventures & Industries Limited (MaxVIL)

02/08/2017 3:56PM

Max Ventures and Industries Ltd. Q1 FY18 Standalone PAT at Rs 60 Cr.; New Businesses Progress Well

Max Ventures and Industries Ltd (MaxVIL) today announced its Standalone Financial Results for the first quarter ended June 30, 2017. In Q1 FY 2018, MaxVIL has reported a Net Profit After Tax of Rs. 60 Crores on a ...

07/04/2017 12:02PM

Max Ventures & Industries Formalizes JV with Toppan Printing, Japan, for Max Speciality Films (MSF)

The Board Max Speciality Films (MSF) today inducted Toppan Printing Co. Ltd, Japan (Toppan) as the joint venture partner with a 49% stake in Max Ventures and Industries Limited’s (MaxVIL) flagship manufacturing ...

10/02/2017 6:44PM

MaxVIL to Enter into a JV with Toppan Printing, Japan, for Max Speciality Films

The respective Boards of Max Speciality Films (MSF) and Max Ventures and Industries Limited (MaxVIL) today approved the induction of Toppan Printing Co. Ltd, Japan (Toppan) as a joint venture partner with a 49% stake in ...

Similar News

20/11/2017 7:25PM Image

Stallion Riders Reigns Supreme in the Fourth Edition of Pune Invitational Supercross League 2017

Riding on a stellar performance of their rider's debutants Stallion Riders bagged the fourth edition of the Pune Invitational Supercross League 2017 held at Royal Palms, Mundhwa, Pune.

No Image

20/11/2017 6:20PM Image

BMW Motorrad Appoints KUN Motorrad as its Dealer Partner in Chennai

BMW Motorrad has announced the appointment of KUN Motorrad as its dealer partner in Chennai. The dealership is headed by Mr. U Venkatesh, Dealer Principal, KUN Motorrad.

News Summary

Max Speciality Films Limited (MSFL) today announced the appointment of Ramneek Jain as the Chief Executive Officer (CEO) of MSFL with effect from 11th July 2017. Ramneek is a seasoned business leader with over 23 years of rich experience across manufacturing organisations in India and the US.