Wednesday, May 17 2023 16:56

ArmInfo.Armenian National Interests Fund's (ANIF) subsidiary "Entrepreneur + State" Investment Fund will jointly invest with Universal Closures CJSC in expansion of the company's bottle closures and caps production.

With years of experience in the field, Universal Closers manufactures  closures and supplies local and regional companies such as Coca Cola,  Bjni, Baikal, Tassay (Kazakhstan) and others.

As a result of this investment, the company will additionally acquire  new machinery and equipment, which will increase the current  production and sales volumes of TALOG/MASC type closures for about  80%.

With a joint project, the company will also acquire a new line for  the production of Crown Cap type closures. These are produced from  special steel rolling used in the food industry and are used mainly  for beer, as well as water and alcoholic beverages.

All imported equipment and production lines are exclusively of  Western European production, and the raw materials will be purchased  only from leading European manufacturers.

The products have a strong and stable demand in the local and  international markets and the project has a very specific export  orientation. It is planned to export more than 85% of the total  volume of products.

The "Entrepreneur + State" Investment Fund will invest 3.9 million  euros for the expansion of the factory's production.

Universal Closures CJSC was founded in 2017. The total production  capacity of the company's equipment is up to 180 million closures per  year.

Universal Closures is the only manufacturer of TALOG / MASC type  closures in Armenia, and is also one of the main suppliers of the  EAEU and CIS markets. The company's products are sold in Georgia,  Central Asia, the Middle East and Europe.

Director of the "Entrepreneur + State" Investment Fund Bella  Manoukian commented on the investment "The fund invests with  companies with tangible growth potential in various fields in order  to create competitive business environment. This program is a big  achievement in the direction of making Armenian products visible to  the international market. We aim at enabling the growth of local  production and the promotion of exports and this investment project  is aimed at the realization of that goal."