From idea to big business: Armenian Biocotton wants to enter the European market

21.06.2024 14:54
From idea to big business: Armenian Biocotton wants to enter the European market

YEREVAN, 21 June. /ARKA/. Nine years ago Biocotton was launched as a company with only 4 employees. The company first started selling cotton buds, then medical cotton wool, cotton discs and wet wipes. 

All components are manufactured locally, which provides a high quality product and a competitive advantage.

Over the years, Biocotton has expanded and the company's products are now available in overseas markets.

In 2022, the company opened a second wet wipes plant. Acba Leasing has been a partner of Biocotton since the first day of its foundation, providing support in equipping the company with modern production lines and equipment.

"Our company was founded in 2015. In the beginning, there were very few manufacturers in this field. There were many difficulties; we worked in two shifts to meet the market needs. Now we produce more than one million cotton swabs per month. Given the high demand for our products, with the support of our best partner Acba Leasing, we acquired a new production line for wet wipes. Thanks to this production line, we are able to produce more than ten thousand boxes of products per day. Acba Leasing has supported us from the very beginning both with counselling and financially," says Artur Balyan, Director of Biocotton.

Now about 60 per cent of the company's production is exported to Russia and Georgia. In the near future it is planned to further expand production by entering the European market.

Acba Bank is a 100 per cent shareholder of Acba Leasing. Akba Leasing Company is controlled by the Central Bank of Armenia. -0-

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Tags: Новости Армении АМИ Новости-Армения

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