Armenia sells major rubber plant to British company

Arminfo
18 Aug 06

Yerevan, 18 August: The Armenian government today decided to sell 90
per cent of the shares of the state-owned closed-typed stock company
the Nairit factory – the only producer of polychloroprene rubber in
the Commonwealth of Independent States – to the British-Irish company
Rhinoville Property Limited for 40m dollars, the government said in
a press release.

The press release said the British-Irish company had applied to buy
the plant and said it could invest in the plant to upgrade it.

The government instructed the energy minister to allow the Armgazprom
joint-stock company to sell 90 per cent of the shares of the Nairit
factory to the foreign investor for 40m dollars.

[Passage omitted: details]

From: Emil Lazarian | Ararat NewsPress