ARMENIAN PRESIDENT SERZH SARGSYAN VISITED TODAY "LORI" COMPANY

ARMENPRESS
Dec 1, 2009

YEREVAN, DECEMBER 1, ARMENPRESS: Armenian President Serzh Sargsyan
visited today "Lori" company's diamond processing factory which was
established in 1992 in Nor Hatchn. The president got acquainted with
the issues of the factory, the implemented works. After walking in the
factory the president conducted a consultation with the participation
of the owner of "Lori" company, Economy Minister Nerses Yeritsyan,
representatives of Indian "Fire Stone" diamond processing company.

During the consultation the participants discussed issues on expansion
of investment volume.

Director of the "Lori" company Isaak Aghajanyan told the reporters
that the diamond processing company started working with 20 workers
and during years expanded the circles of its activity making the
number of workers 500. During the recent period as a result of global
economic crisis, employees have been dismissed and production volume
reduced. This year the company is planning to make the production
volume reach 40-42 million USD. "Our product is mainly being exported
to USA and partially in Europe. Because of the crisis the demand has
decreased but during the recent period stabilization tendencies are
becoming notable," Aghajanyan said. Annually the company in average
produces 50,000 carats.

Nerses Yeritsyan noted that in the diamond processing the interest
of investors is big. The Indian "Fire Stone" company wishes to make
investments in this sphere. According to the minister, because of the
economic crisis the sphere maintains its tempos but the availability
of raw gradually decreases.

President of the "Lori" factory Shahen Aslanyan noted that they are
aimed at empowering the factory and create a new one.