BAGHDASAROV CONFIRMS HIS INTENTION TO SELL MIKA CEMENT COMPANY
ARKA
July 7
On Monday, Mika Baghdasarov, owner of Mika Cement Company, confirmed
his intention to sell the company.
"The cement plant is for sale. The money received from the sale will
be invested in Armavia Air Company", he said.
Baghdasarov denied rumors about his intention to sell Armavia.
Mikhail Baghdasarov is the president of MIKA Armenia Trading, which
includes Mika Cement and Armavia.
The cement plant was based on a mining and chemical plant established
in 1970.
In 1990s the plant stayed idle. Mikhail Baghdasarov bought it in 2001.
Some 1000 people work here. Their salary averages AMD 90,000.
The plant has got award from European Business Assembly in London
and Grand Prix in Switzerland. M.V.