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Cannery stake auctioned

This article was originally published in Foodnews

AZERBIAJAN's State Committee for Property Affairs has announced that Embawood LLC, a soft furnishings company, has bought 30% of the shares in the Masalli-Konserv OJSC cannery after winning a state-run auction. The committee said that two bids for the shares had been submitted. "As a result, soft furniture producer Embawood LLC was recognised as the winner. Under the contest conditions, the winner company is to transfer AZN70 000 (USD87 000) to the State Budget and within a year to invest AZN500 000 in development of the cannery. Embawood's investment programme envisages the creation of 55-60 jobs," it said, adding that 200 new fruit will also be planted. Masalli-Konserv OJSC is situated in Masalli city and processes vegetables and fruits and manufactures soft drinks and other canned products.

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