Recently, the President of the Republic of Armenia, SerzhSargsyan, arrived in Kotayk, Central Province on Saturday to visit a glass bottle factory. The president visited the modern factory building and learned more about the production status of the factory.

 

    The factory invested $44 million to renew the production line, of which $3 million was from a European loan to the Development Bank. The company’s prime minister told this reporter that the company has been in business for more than 20 years, and its products are sold to Armenia, as well as Georgia and some European countries.

 

    The factory was established in 1989. The main products are juice glass bottles, non-alcoholic beverages and spirits glass bottles. The products are sold to 75 local companies and 25 foreign companies. 40% of the revenue comes from overseas sales. Last year, the company's revenue was 4 billion drams. After the new factory was established, it is expected to generate 8 billion drams.

 

    In November of this year, the company completed a modernization project that began a year ago. Now, the company can produce glass bottles and achieve the precedent without such production in China. In October 2010, the factory established a special production line for the production of polyethylene film to meet the growing demand for packaging materials in the country. With 450 employees, the average salary is 12,000 drams.