ArmenPress
March 11 2005

KOCHARIAN VISITS ARMEN CARPET ENTERPRISE

YEREVAN, MARCH 11, ARMENPRESS: Armenian president Robert Kocharian
described today a rug producing company, Armen Carpet, as a brilliant
example of a successful privatization deal after taking a stroll
through its workshops.
The company was built on the remnants of a Soviet era,
carpet-weaving enterprise known as Hay Gorg (Armenian Carpet). After
the disintegration of the U.S.S.R., lack of managerial skills and raw
materials brought rug production to a standstill. Most of the weaving
centers throughout the country became idle, resulting in the loss of
thousands of jobs. It began experiencing a renaissance after the
Megerian family of New York, well known for their expertise in
antique and decorative rug reproductions, which has made their name
synonymous with quality, led the charge in bolstering the traditional
Armenian creativity and rebuilding the industrial infrastructure.
Kocharian said Armenian rug production has not only revived old
traditions but has also excelled in designing new patterns. According
to him, the existence of this company, along with another company,
revived by another Diaspora-based Armenian businessman, the Tufenkian
Family, is a good sign that this branch will have a bright future.
The Megerian family has already invested $ 2 million in the
enterprise. Last year it produced 12,000 square meters of carpets and
rugs, 23 times more than in 2001. Ninety-two percent of rugs are sold
in Switzerland, Turkey, Egypt, China, Pakistan and Romania. It
employs 1,500 people whose average monthly wage is about $70.