MB Capital acquires 75% stake in Artashat cannery
15.12.2017,
16:22
A local company called MB Capital has acquired a 75% stake in ArtFood cannery located in the town of Artashat, the cannery said in a press release, specifying that the idea belonged to Kamo Avagumyan, the board chairman of Avilon company.
YEREVAN, December 15. /ARKA/. A local company called MB Capital has acquired a 75% stake in ArtFood cannery located in the town of Artashat, the cannery said in a press release, specifying that the idea belonged to Kamo Avagumyan, the board chairman of Avilon company.
MB Capital is said to invest about $3 million in the modernization of the cannery, to double the output and to win also new markets.
To ensure competitiveness of its products in the new markets, the cannery will expand the assortment line, which, in turn, will lead to an increase in total production and the number of jobs by 100 people respectively. The cannery produces and processes annually about 40 thousand tons of vegetables and fruits. It sells 35% of production outside Armenia. -0-
MB Capital is said to invest about $3 million in the modernization of the cannery, to double the output and to win also new markets.
To ensure competitiveness of its products in the new markets, the cannery will expand the assortment line, which, in turn, will lead to an increase in total production and the number of jobs by 100 people respectively. The cannery produces and processes annually about 40 thousand tons of vegetables and fruits. It sells 35% of production outside Armenia. -0-
