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"Rusal-Armenal" Exceeds The Output Indexes Set For This Year

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  • "Rusal-Armenal" Exceeds The Output Indexes Set For This Year

    "RUSAL-ARMENAL" EXCEEDS THE OUTPUT INDEXES SET FOR THIS YEAR

    ARMENPRESS
    OCTOBER 1, 2009
    YEREVAN

    The 13.4% tax set by the European Union for import of aluminum foil
    from Armenia will not harm the Yerevan "Rusal-Armenal" factory, said
    the press secretary of the company Alexander Melkumian to Armenpress.

    According to him the leadership of "Rusal-Armenal" assesses it
    as a step declining the competitiveness of the factory stressing
    that settlement of this issue is under the authority of Armenian
    Government. A. Melkumian said that the European Union revealed its
    decision for increase of taxes with the circumstance that as a result
    of cheap import of the Armenian, Chinese and Brazilian foil the local
    producers bare significant loses. The taxes will come into force from
    October 8. A. Melkumian clarified that the decision refers only to
    a part of the foil exported from Armenia. "We continue to work with
    Europe," he noted. The main market of factory product is the USA
    where 80% of the industrial foil is consumed. The realization of the
    remaining part is conducted in Middle East and Europe. Armenia is a
    small market of realization of the foil; here only 1% of the factory
    product is consumed.

    At present the factory has agreements for the supply of the foil
    therefore there are no realization issues. Moreover, despite the
    crisis the factory has greatly increased its output volumes; the
    product for first 8 months of 2009 reaches nearly 14.000 tons, which
    for nearly 80% exceeds the indexes registered during the same period
    last year. The output indexes intended for this year have already
    been surpassed. During 2009 "Rusal-Armenal" is one of the Armenian
    enterprises having provided biggest export volumes.

    Referring to the prices for realization of the foil A. Melkumian
    said that as it is produced from the aluminum, which considered a
    stock metal, and its prices in the international markets considerably
    increase making impact on the price for foil as well.
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