VOIC is born
- The factory was established for refining olive oil.
- The company was established in the amount of JD 100,000 shares were floated for public offering.
- Our company acquired the most sophisticated machines internationally The company includes a section to remove pigments, remove acidity, color, taste, and smell and package in a manner that is good for export and for domestic consumption.
- We acquired the machines from highly esteemed companies, specifically, Rosdowns Thompson and Sharplez. After acquiring the machinery, we established a lab and a repair shop to maintain our generators, steam boilers and water projects.
- Machinery was installed under the supervision of international experts in November. The first production began of refining olive oil which was put on the market for sale.
Also, the company refined the cotton oil and introduced the product to the local market, this led to raising the company’s net worth.
Increasing capital to half million JOD
- Due to increased customers demand for margarine the equipment machines were converted to meet this demand.
- The Jordanian Government contributed 40 percent the company's capital
- The company's capital increased to DJ 500000
Vegetable ghee production
- Plant began production of margarine.
- To increase our capability, we contacted major Dutch companies and refineries specializing in the production of margarine and crude oil.
- Agreements were negotiated with Zowifer, a Dutch company to advise on the improvement of production and equipment capacity.
- Dutch experts were sent to Palestine to train our employees. Our company sent technicians directly to the Netherlands for a year to get specialized experience in the industry.
- The Production was completed by Arabs under the supervision of Dutch management for two more years.
- Increase the production and capacity of the plant from 28 tons per day to approximately 50 tons per day.
Covering the Jordanian and the Palestinian markets
- The company was rated highly to produce margarine and liquid oils.
- Production continued to improve to keep up with the latest technological advances by frequently changing machines.
- Capacity increased from 7500 tons annually to 25000 tons per year. Then continued to increase to 40000 ton per year which exceeded the demand of the Palestinian market for many years.
Jordanian Goverment agreement
- The company has the right to refine and manufacture vegetable oil within in the Jordanian Kingdom for 30 years based on a negotiated agreement with the Jordanian Government. This agreement was extended for another 15 years with the following conditions:
- 1. Produce margarine and excluded the refining of vegetable oil.
- 2. Establishment of a branch or office in Amman.
Production in Jordan started
- A factory was established to produce margarine in Jordan which started operations within 2 years. The initial production to start at 50 tons daily.
Cover neighbour markets
- • The company expanded its market by exporting margarines to Iraq.
- • An increase in the production and capacity of the company's factory in Amman to produce 150 tons per day and then 300 tons per day to meet the demand of the Iraqi market.
Jordanian Goverment shares were purchased
- • Palestinian Businessman Mr. Sabih Masri purchased the Jordanian Government share.
The company's capital was increased
- The company's capital was increased to 3 million shares and the increase was raised for the public offering
- Reorganize and restructure of the company where Palestinian and Jordanian companies were separated legally and financially. Each company has its own board of Directors and the capital was divided between the two companies at three million dinars each.
- The company began to diversify its investments, notably buying 10% of Coca Cola an national beverage company.
Establishing the industrial hangers
- Completed Industrial zone project for the company where industrial hangars were created at 9370 square meters space and then leased to national institutions, companies and individuals.
- Increased shares in the national beverage company equivalent to 25%. The company contributed 27% to establish Plastics Technology company.
- Production has been refined to ensure lower production costs. The company strives to expand the company premises for development of all divisions to ensure maximum production efficiency.
A Trademark of the company has been registered through Abu-Ghazaleh Intellectual Property to ensure legal protection when entering the company’s products into European common markets and Gulf Corporation Council markets.
The company acquired foreign technical expertise to study ways of improving it's production and packaging methods to keep up with the latest production methods in order to remain competitive in the global marketplace.