YEREVAN, August 31. /ARKA/. Tanik Vayq, a pipe manufacturing company in Armenia, has expanded its operations to include the production of polymer-sand tiles made from recycled plastic and sand. The company’s new venture was announced by Acba Bank’s press service.
These durable and long-lasting tiles are designed for use in urban and residential areas. The company’s transition from concept to business was facilitated by Acba Leasing, which provided the necessary financing for the acquisition of production equipment.
“We produce environmentally friendly tiles. The plastic we use does not emit harmful substances due to its exposure to direct sunlight, making it safe for use in crowded places. Initially, we had a workshop for pipe production, and later, we came up with the idea of making meter boxes and tiles. Although we had the idea, we lacked the necessary funding. With the help of Acba Leasing, we acquired fully automated equipment, along with transportation and regulation machinery,” said Gor Sayamyan, CEO of Tanik Vayq.
The company’s tile production currently stands at 55 tons per month, with all products being sold locally. Looking ahead, Tanik Vayq plans to expand its product line to include benches, trash containers, roofing materials, and other items.
Acba Leasing, a wholly-owned subsidiary of Acba Bank, played a key role in supporting this new venture.
