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Lori LLC Reduced Its Production Volume By 10-15% In 2009

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  • Lori LLC Reduced Its Production Volume By 10-15% In 2009

    LORI LLC REDUCED ITS PRODUCTION VOLUME BY 10-15% IN 2009

    PanARMENIAN.Net
    01.12.2009 13:50 GMT+04:00

    /PanARMENIAN.Net/ On account of global recession, Lori LLC has this
    year reduced its production volume by 10-15%, diamond plant director
    Isahak Aghajanyan said.

    At that, he noted that the plant's yearly output totals USD 30-35
    billion. "The figure will reach USD 40-42 billion by the end of
    current year," he said.

    According to Aghajanyan, the company incurred the consequences of the
    crisis, since 90% of its production is exported to U.S. and the rest
    is sent to European countries. "However, there is a positive tendency
    as economy is slowly overcoming the crisis impact," he said.

    Armenian President Serzh Sargsyan today visited the plant to get
    familiarized with its functionality.

    Lori LLC was founded in 1992. Its shareholders are Saghe Aslanyan
    and Vardges Minasyan. 12% of company's stocks belong to Franck
    Muller company.

    From: Emil Lazarian | Ararat NewsPress
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