Holoflex to invest Rs 100 crore in reflective film venture

Kolkata: Holoflex Ltd, a city-based manufacturer of holograms and allied products for brand protection and security, is planning to diversify its production to manufacture reflective films used in vehicle registration plates and highway signages. The company, which has manufacturing units at Panchla in Howrah and Sector V in Salt Lake, will invest around Rs 100 crore in the first phase of this new venture.Besides catering to the pharmaceutical, packaged food, personal care, and FMCG sectors, the company also makes holograms for Aadhaar cards, voter ID cards, and debit and credit cards."We are already making holograms on vehicle number plates, but the reflective films currently have to be imported. Once we start manufacturing these films, our company will be the first in India to do so. This will help us expand our footprint across the country, as we have set a target to raise our turnover to Rs 350 crore from the present Rs 80 crore in the next five years," said Ajit Kumar Surana, director of the company, which has been providing anti-counterfeiting solutions since 1991.The company is also planning to set up a new plant outside Bengal, though the location has not been finalized yet. To curb the penetration of counterfeit products with fake holograms, Surana stated that the govt needs to set up a helpline that will enable both retailers and consumers to report duplicates to the administration directly.