During the last weekend of November, Armenia“s president Serzh Sargsyan visited the modernized Saranist glass container factory in the central province of Kotayk. The company has invested a total of …
During the last weekend of November, Armenia“s president Serzh Sargsyan visited the modernized Saranist glass container factory in the central province of Kotayk. The company has invested a total of USD 44 million in upgrading production lines, including a USD 3 million loan provided by the European Bank for Reconstruction and Development (EBRD). Director general of the company Vardan Manukian informed that it has been operating without a break for the last 20 years, selling its products to Armenian companies as well as to Georgia and some European countries. Arsen Ghazarian, chairman of the Union of Armenian Industrialists and Businessmen, said Saranist is the largest company in the region manufacturing products meeting all European standards. The plant, which was built in 1989, sells glass containers and bottles for juice, non-alcoholic and strong alcoholic drinks to 75 local and 25 foreign companies, with 40% of production sold outside Armenia. In 2009, the company earned AMD 4 billion from sales of its products, and now, thanks to the new workshop, the plant hopes to increase sales by AMD 800 million.