Chinese Undercut Armenian Diamond Tool Maker
By Ketan Tanna Posted: 5/3/2005 8:07 AM
Diamonds.net, NY
May 3 2005
(Rapaport…May 3, 2005) Armenia’s synthetic diamond tools manufacturer
Almast faces stiff competition from China for its Armenia, Iran,
Russia, and European Union markets.
Armenia’s news agency ARMINFO reported on April 27 that China dumped
cheap diamond tools on Armenia’s market as well, which has limited
Almast’s profit, already low at $40,000 in 2004. The plant employs
180 people at an average wage of $114 per month.
Almast was founded in 1954. The designed capacity of the plant is 50
million carats of diamond powder annually.
From: Emil Lazarian | Ararat NewsPress