Slovakia’s SLZ eyes Armenian chemicals-maker Vanadzor

24.11.2004
 
Yerevan. (Interfax) – The Slovakian company SLZ, part of the Dividend
Group, may clinch a deal for stock in Armenia’s Vanadzor chemicals
complex with its owner Zakneftegazstroi Prometei of Russia in December.

Armenian Trade and Economic Development Minister Karen Chshmaritian
told reporters on Tuesday that SLZ representatives will arrive in
his country December 6 for stock purchase talks. A representative
from the Russian company will also be arriving.

Preliminary agreement has already been reached and a deal could be
signed during this meeting, Chshmaritian said.

It was announced earlier that the Slovakian company is seeking at
least 51% of the chemicals company stock.

The Vanadzor chemicals complex comprises Vanadzor Chemical Plant, a
chemical fiber plant and Vanadzor TES, which in 1999 were appraised at
$1.5 million. The Russian company is has invested around $20 million
in developing the enterprise, which has stood idle since 2002.

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