Amman - The Jordan Capital and Investment Fund (JCIF) announced Tuesday the completion of a strategic investment to acquire a 28% stake in Horizon for Plastic Products Company, a producer of rigid plastic containers with filling capacities ranging from 0.1 to 35 liters, as well as custom containers tailored to client specifications.
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JCIF Chairman Hani Qadi, speaking at the signing event, highlighted that "this investment will enable Horizon to diversify product lines, adopt new technologies, and expand its facilities." Qadi noted that the expansion is expected to create employment opportunities within local communities, bolster Jordan’s manufacturing sector, and enhance national exports.
Expressing enthusiasm for the partnership, Horizon's Executive Managing Partners Samir Najjar, Yaser Elian, and Tahsin Shdaefat welcomed JCIF as a major shareholder, saying, "With JCIF’s backing, we are positioned to strengthen our market presence by investing in innovative solutions that meet the growing demand for plastic packaging across diverse sectors. The partnership will support efficiency improvements and increase our production capacity, guided by JCIF’s strategic expertise and credibility."
The JCIF CEO Faris Sharaf underscored the fund’s commitment to supporting Jordanian industries, stating, "This partnership represents our confidence in Jordan’s potential to compete regionally and globally. By investing in local manufacturers, we contribute to economic growth and foster sustainability and innovation within Jordan’s plastic products sector."
The JCIF, comprising 16 Jordanian commercial and Islamic banks, is Jordan’s largest private sector investment fund, with a capital commitment of JOD 275 million (USD 388 million). Focusing on growth-oriented companies, the fund has invested approximately JOD 50 million to date across sectors such as food security and information technology, with future plans to expand into healthcare, agriculture, and education.
Founded in 2000 within the King Abdullah II Industrial Zone, Horizon initially produced plastic containers for the chemical and paint industries and was among the first in the region to utilize dry offset printing technology. It has since expanded into the food industry, adopting advanced technologies like in-mould labeling and robotics.
With significant production and storage capabilities, Horizon has increased its market share, now exporting directly and indirectly to over 15 countries, with exports contributing about 40% of its total revenue as of 2023.
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