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the requirements of the free market economy. Many of them had to close down due to changing market conditions, while the others could maintain only half of their production capacities. The transition process brought severe unemployment and recession climate in the country. Right until 1993, Azerbaijan had practically no enterprises operating in the food manufacturing industry. Around this time, the government laid down a new policy of privatization of industrial units. The influx of foreign investment, drawn in the country's economy, saw a sudden increase in the early 90s. Mr. Abdolbari Goozal happened to be among those foreign businessmen interested in investing in
Azerbaijan. Shortly after his first visit to Azerbaijan, he opened his first local branch office in Azerbaijan. As a result of successful activities, this office later expanded into a leading group of companies in the food sector. Azersun Holding has been the first foreign private company in Azerbaijan's food industry to incorporate several enterprises under its control, pioneering the concept of a group of companies in the country. In 1996, they established their trading company in
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Shortly after the Soviet Union collapsed, the former socialist countries, including
Azerbaijan, have geared their economies towards integration into a free market economy. Obsolete technologies and floundering industrial units, inherited from the system of centralized socialist economy, did not meet
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that operates in the food production, retail, and farming sectors primarily in
Azerbaijan but also in other CIS countries and the Middle East. Azersun is the largest food producer and exporter in Azerbaijan (with 28 food brands produced) and also engages in the trade of paper and packaging.
411:"Abdolbari Goozal, the President of Azersun Holding, the largest Azerbaijan Company in foodstuff production, trade and agriculture sectors, has become the Chairman of the Azerbaijan Entrepreneurs Confederation (ASK) Commission"
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26% interest in pharmaceutical manufacturer
Caspian Pharmed CJSC with Tamin Pharmaceutical of Iran (49%) and Azerbaijan Investment Company (25%), liquidated in 2021
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Generally known as the largest major producer and exporter in the country's food industry...
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Azərbaycan Şəkər İstehsalat
Birliyi - Azerbaijan's largest sugar refiner purchased in 2006
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Azərbaycan Kağız Karton
Istehsalat Kombinati - cardboard factory purchased in 1997
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Green Tech
Istixana Kompleksi - vegetable products company purchased in 2012
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Qafqaz Metal Qablaşdırma Sənaye - metal packaging factory purchased in 2005
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Qida Paketləmə Müəssisəsi - food processing factory purchased in 1998
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Azərbaycan Duz
Istehsalat Birliyi - salt factory purchased in 2010
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Zeytun Emali
Fabriki - olive processing factory purchased in 2002
454:"Black PR against Azersun Brands Hampering Company Investments"
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Bakı Qida və Yağ Fabriki - edible oil factory purchased in 1995
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Qafqaz
Konserv Zavodu - canned food factory purchased in 2003
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Qazax Konserv Zavodu - canned food factory purchased in 2012
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Zaqatala Fındıq Fabriki - Hazelnut factory purchased in 2006
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Sumyagit Yag Fabriki - edible oil factory purchased in 2014
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Natural Green Land - edible oil factory established in 2006
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Azerbaijan Industrial Insurance - OJSC established in 1996
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Qənd İstehsalı Fabriki - sugar producer purchased in 2009
532:"Azerbaijan's Caspian Pharmed CJSC declares liquidation"
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279 million Azerbaijan Manat ($ 164 million USD) (2018)
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730 million Azerbaijan Manat ($ 430 million USD) (2018)
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Zeytun emalı Fabriki - paper factory purchased in 1997
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Middle East North Africa Financial Network (MENAFN)
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Sun Tea Çay Fabriki - tea factory purchased in 1994
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566:Conglomerate companies established in 1991
109:Learn how and when to remove this message
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345:"Annual Report for Azersun Holding MMC"
556:Food and drink companies of Azerbaijan
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47:adding citations to reliable sources
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432:"Azersun – The Mind-set of Growth"
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438:. August 15, 2016. Archived from
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205:Azerbaijani: Azərsun Holdinq MMC
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391:Azersun Holding: History
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477:"HOLDİNQİN ŞİRKƏTLƏRİ"
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201:Azersun Holding MMC
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481:Azersun.com
550:Categories
517:2021-03-10
331:References
154:Azerbaijan
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487:March 5,
394:Archived
365:March 4,
314:See also
207:) is an
127:Industry
503:"TARİX"
216:History
190:azersun
185:Website
159:Revenue
143:Founder
135:Founded
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359:(PDF)
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