Amman: Jordan Capital and Investment Fund (JCIF) announced that it has finalized a strategic investment to acquire an estimated 28% stake in Horizon for Plastic Products Company. The company manufactures an extensive range of rigid plastic container products with filling capacities from 0.1 liters up to 35 liters, in addition to custom-designed containers tailored to client specifications, supported by the company’s engineering team.

Horizon was established in 2000 in the King Abdullah II Industrial Zone, initially producing varied plastic containers for the chemical and paint industries. The company was among the first in the region to adopt dry offset printing technology, later expanding  into the food sector and other related industries.

The company then started manufacturing low-thickness containers with in-mould labeling, employing cutting-edge technology and robotics. With substantial production and storage capacity, this growth is evident in its increased market share. As of 2023, Horizon exports directly and indirectly to over 15 countries, with export sales accounting for approximately 40% of total revenue.

Horizon seeks to strengthen its market positioning and expand its exports across the region by leveraging the latest production technology advancements and diversifying its product line to meet growing demand both regionally and internationally.

“Our investment in Horizon will help the company develop new product lines and technologies, expand existing facilities and foster vertical integration,” commented Hani Al-Qadi, JCIF Chairman, during the signing event. “This will create new employment opportunities, primarily from local communities, contribute to Jordan’s manufacturing sector and boost national exports,” Al-Qadi added.

“We are delighted to welcome JCIF as a significant shareholder in our company,” said Horizon Executive Managing Partners Samir Najjar, Yaser Elian and Tahsin Shdaefat. “As we witness growing demand for plastic packaging solutions across various industries, we aim to strengthen our market position through a commitment to quality and innovation, and by building strong relationships with local and regional clients. With JCIF as our new partner, we will be investing in innovative technologies and solutions that serve diverse industrial sectors, while enhancing our efficiency and production capacity. JCIF brings institutional credibility, strategic expertise and solid dependability to support these future plans.”

“This partnership with Horizon is not just an investment; it represents our belief in the potential of Jordanian industries to compete on both the regional and global stages,” stated Faris Sharaf, JCIF CEO, during the signing event. “By supporting local manufacturers, we are not only driving economic growth but also fostering innovation and sustainability within the plastic products sector,” Sharaf elaborated.

JCIF is a partnership among 16 Jordanian commercial and Islamic banks, and is the largest private sector investment fund in Jordan with a capital commitment of JOD 275 million (USD 388 million). The fund invests in pioneering companies with growth, development and expansion potential by providing fresh capital to help bolster employment and promote economic growth across Jordan. To date, JCIF has invested approximately JOD 50 million in dynamic and promising sectors, particularly in food security and information technology, with ambitious plans for further investments in healthcare, agriculture and education.