LORI LLC REDUCED ITS PRODUCTION VOLUME BY 10-15% IN 2009

PanARMENIAN.Net
01.12.2009 13:50 GMT+04:00

/PanARMENIAN.Net/ On account of global recession, Lori LLC has this
year reduced its production volume by 10-15%, diamond plant director
Isahak Aghajanyan said.

At that, he noted that the plant’s yearly output totals USD 30-35
billion. "The figure will reach USD 40-42 billion by the end of
current year," he said.

According to Aghajanyan, the company incurred the consequences of the
crisis, since 90% of its production is exported to U.S. and the rest
is sent to European countries. "However, there is a positive tendency
as economy is slowly overcoming the crisis impact," he said.

Armenian President Serzh Sargsyan today visited the plant to get
familiarized with its functionality.

Lori LLC was founded in 1992. Its shareholders are Saghe Aslanyan
and Vardges Minasyan. 12% of company’s stocks belong to Franck
Muller company.

From: Emil Lazarian | Ararat NewsPress