23.02.2010 19:15
YEREVAN, February 23, /ARKA/. The EBRD’s Business Advisory Services (BAS) Programme is helping NatFood CJSC, one of the leading meat products producers in Armenia, to improve business efficiency by introducing automated financial system.
A press release by EBRD said NatFood CJSC is one of Armenia’s leading producers of high-quality meat products, producing an assortment of over fifty types of sausages, boiled, semi-smoked, smoked and other meat products marketed under the Biella brand name. In May 2008, through a shareholder agreement, the European Bank for Reconstruction and Development (EBRD) acquired a 28.3 per cent equity stake in NatFood for $4.35 million. This equity investment is supporting the expansion of Biella’s meat production capacities through the construction of a new processing plant in Armenia. The plant is equipped with state-of-the-art processing equipment and technology, making it unique in its type not only in Armenia, but in the region. The EBRD coupled its investment with the introduction of a corporate governance system in NatFood.
The new processing facility is aimed at increasing production capacities from 3 to 15 tonnes per day, diversifying the range of meat products (packaged fresh meat, canned meat and semi-finished products, etc.), ensuring product safety through compliance with internationally accepted health and safety standards, improving product quality, and the launching of a new premium brand targeted to export markets (Northern Russia, Georgia, Iran).
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