Dec 10 2004


YEREVAN, DECEMBER 10, ARMENPRESS: Elita Ltd., the sole producer of
yeast in Armenia, has launched today its new dry yeast production
facility in Yeghvard, Kotayk Marz. The company was initially designed
to produce wet yeast to compete with Iranian wet yeast imports in the
local market. The management of the company decided to expand its
operations by launching a dry yeast production line to cater for the
needs of smaller commercial and household bakers. The opening
ceremony was attended by the governor of Kotayk Marz, Mr. John Evans,
the U.S. Ambassador, other honorable guests.
The construction of dry yeast production facility started in 2003
with the help of DAI-ASME, USAID financed project. DAI-ASME provided
day-to-day consulting assistance in strategic planning as well as
financial assistance in the form of a grant to cover part of the
construction cost of the new facility.
In 1992, when Armenia faced a huge deficit of bakery yeast as a
result of the blockade by Azerbaijan, the founders of Elita Ltd. -
four graduates from Food Industrial Technological Institute in Kiev,
Ukraine - decided to establish a factory to produce bakery yeast in
Today Elita is the only producer and supplier of wet yeast in the
local market and has captured 10% of the yeast (wet and dry) market.
Currently, over 50 large Armenian bakeries use Elita's wet yeast.
The company now employs 25 people. This number will grow to 50 when
new operations are fully developed. Dry yeast produced by Elita will
compete and gradually replace imported Iranian and Turkish brands.
The new facility will enable the company to produce 6-8 tons of dry
yeast during the first year of operations and supply up to 50% of the
country's need for yeast products in 2006. Export opportunities to
Georgia will be considered as total production increases and local
market needs are satisfied.
The company is managed by three shareholders.