Tuesday, 23 April 2013
Tigran Sargsyan Briefed On Food Processing Company’s Investment Programs
Prime Minister Tigran Sargsyan visited flour, confectionery, wine and brandy producer MANCHO Group Company. The head of government toured the premises getting acquainted the manufacturing processes and investment programs.
As of 2012, the company had invested USD12mn in the production of flour and confectionery, with USD15mn invested in the manufacture of wine, brandy and fruit vodka. They are expected to invest USD8mn for the construction of a cold-storage facility and a canning factory.
By the end of 2013, 100 new jobs will be added to those 172 available now.
MANCHO Group is engaged in the import of all kinds of grain crops, including wheat, barley and maize. It also processes domestic production, produces flour and confectionery, such as semolina, rahat lokhum, wafers, chocolate biscuits, spice-cake, bird milk, sugar candy, caramel, peanuts, sweet and salty crisps, jellies, soufflé, chocolate bars, toffee, sweets set, cold coffee, etc. The company runs two flour mills with 100-ton daily capacity.
In the period between 2008 and 2009, MANCHO Group expanded its operations by organizing a production of wine and brandy spirit. In addition to wine and brandy, the company produces premium-quality pomegranate wine.
In 2011, MANCHO Group launched the production of fruit vodka, made from mulberry, cornel-berry, apricots, peaches and pears. As from November, 2012, MANCHO Group’s wines and brandies are realized on the local marketplace as well.
The Company contributed around 586.5 million drams to the Treasury in 2012, ranking 159th on the list of large taxpayers.
