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Armenian President Serzh Sargsyan Visited Today "Lori" Company

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  • Armenian President Serzh Sargsyan Visited Today "Lori" Company

    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.
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