SORCIO PLANS TO INCREASE ITS PRODUCTION VOLUMES TO 5-10 MILLION DOLLARS BY 2010
Noyan Tapan
June 11, 2009
YEREVAN, JUNE 11, NOYAN TAPAN. Sorcio company plans to increase its
production volumes by late 2009 with the assistance of 125 million
drams (about 403.8 thousand USD) it has received from Armenian
government. NT correspondent was informed by the company’s CEO
Hovhannes Avoyan that the U.S. is the main consumer of the production
made by this IT company, and Sorcio will also increase its export
volumes this year.
H. Avoyan expressed a hope that the government’s assistance will
help the company to mitigate the impact of the global financial and
economic crisis.
Sorcio currently employs 50 people, but it envisages increasing the
number of jobs to 200 within 3-4 years and the number of customers
to 80 thousand instead of the current 1,000. The company expects its
production volumes to reach 5-10 million USD in 2010. In 2008 its
production amounted to 700 thousand USD.
Sorcio’s products enable various institutions to control work of
websites, networks and servers. According to H. Avoyan, demand for
their products is gradually increasing abroad, while in Armenia there
is no demand for them.
"Demand for such products is just emerging in Armenia as few companies
seriously use information technologies at their enterprises,"
he underlined.
He said that the government has acquired part of the company’s
shares. "The government evaluated Sorcio quite conservatively: our
company has rather a high cost," the CEO said.
In his words, despite this fact, the governmental assistance came
just in time because Armenia’s IT sector is suffering a decline due
to the crisis.