ARMENIAN NAIRIT RESTARTS PRODUCTION OF RUBBER

Interfax
April 28 2009
Russia

Armenian Zavod Nairit, owned by Rhinoville Property Ltd, has resumed
production of rubber after shutting down in November 2008, General
Director Vaan Melkonyan told journalists on Tuesday.

The company plans to increase rubber production to design capacity
of about 900 tonnes a month by May 5-10, producing about 6,000-6,500
tonnes by year-end.

Nairit will export 99% of output, mainly to Europe. The shutdown
in November was prompted by falling demand following the onset of
the global financial crisis, he said. Production has been restarted
now because energy costs are substantially lower in the spring and
summer period.

Global demand for rubber amounts to 400,000 tonnes a year, he said.

Nairit can produce about 8,000-10,000 tonnes a year under the current
acetylene production scheme.

Rhinoville Property Limited, a company set up by Polish Samex, American
Intertex and Russian Evrogaz, owns 90% of Nairit shares. The Armenian
state has 10%.