IRANIAN COMPANY ALVAN FOUNDS BUILDING PAINTS PRODUCING PLANT IN ARMENIA

ArmInfo News Agency, Armenia
Nov 13 2006

A plant producing building paints of an Iranian company ALVAN, which
is engaged in production of paints and rubber, will be put into
exploitation in Armenia by the end of 2007, ALVAN Export Department
Director Siamak Ebadi told ArmInfo. He did not mention the volume of
investments in the production.

He said the idea of founding the plant in Armenia is connected, first
of all, with the high demand for building paints in the local market,
as well as with the 7-year-long experience of work in the Armenian
market. Thus, S. Ebadi said ALVAN exported paints worth $5 million to
Armenia during these 7 years. The sales volume of the Iranian paints
in the Armenian market grows by 30% annually. S. Ebadi forecasts that
the new plant will produce 100 tons of building paints daily. At the
same time, he said the local production will satisfy the internal
demand at the initial stage. In future it will export its production.

S. Ebadi said that ALVAN intends to found similar plants also in
Romania and UAE. At present, the company exports its production to
Kazakhstan, Tajikistan, Afghanistan, Switzerland, Georgia, Ukraine
and Iraq.

ALVAN was founded in Iran in 1981. According to the National
Statistical Service of Armenia, in Jan-Sept 2006 as against the same
period of 2005, the paint-and- varnish production in Armenia grew
by 30.4%.