New Delhi: Packaging firm Uflex, which supplies packing material to Nestle's Maggi, on Tuesday said its revenue would be not be affected by the recent ban on the instant noodles brand.
The company in a statement said that its packaging portfolio is evenly spread out among several top notch brands and the Maggi as part of its portfolio does not add significantly to its bottom line.
"In the wake of recent developments surrounding Maggi noodles, we would like to clarify that the recent incidents pertaining to Maggi does not affect the bottomline of Uflex in any way," the company said.
It further said that its revenue growth will continue at its pace due to its diverse reach in the local as well as global market.
"The recent banning of Maggi noodles will have no negative impact on Uflex's turnover as the company is on a higher growth trajectory both in India and overseas market," it added.
On June 5, the Food Safety and Standards Authority of India (FSSAI) banned Maggi noodles directing Nestle to immediately withdraw and recall all nine variants of the instant noodles from market due to presence of lead and taste enhancer monosodium glutamate (MSG) beyond permissible limits.
Nestle India has also recalled the product from the market and is in the process of destroying Maggi noodles worth Rs 320 crore after the ban.
However, Uflex also said that it considers "Nestle as its premier customer and considers its association as most valued" and is sure it "will be able to resolve the present crisis to the satisfaction of all stakeholders and revive Maggi brand in no time".
Apart from India Uflex has manufacturing base in Mexico, Dubai, Egypt, Poland and USA and caters to global markets spanning USA, Canada, South America, UK, Europe, Russia, CIS countries, South Africa and other African countries, the Middle East and the South Asian Countries.
