ARMENIAN HYTEX PLASTIC AND COCA COLA BOTTLER’S GEORGIA SIGN COOPERATION MEMORANDUM
Armenpress
Dec 18 2006
YEREVAN, DECEMBER 18, ARMENPRESS: The Yerevan-based Hytex Plastic
company and Coca Cola Bottlers Georgia have signed in Georgia’s Tbilisi
a memorandum on long-term cooperation. The Armenian company has vowed
to build a plant in Georgia for production of plastic bottles.
Hytex Plastic is supposed to invest $2 million in the repair of the
site and installment of modern equipment. This process is supposed
to be accomplished in the second half of 2007. The Armenian company
covers now 30 percent of the Georgian demand for such bottles.
Under the memorandum Coca Cola Bottlers Georgia will have to buy
bottles of the Hytex Plastic until 2013. The signing ceremony was
attended by Michael Dave, the regional director of the EBRD. In 2006
January the EBRD bought 30 percent of shares in Hytex Plastic.