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.

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%.

ANIF reported that 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 news release runs.

The “Entrepreneur + State” Investment Fund will invest 3.9 million euros for the expansion of the factory’s production.

Director of the “Entrepreneur + State” Investment Fund Bella Manoukian said that 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,” she said.

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

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.

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.