Armenian government attaches importance to export-oriented medium enterprises

PanARMENIAN.Net - On March 22, Armenian Minister of Economy Tigran Davtyan paid a working visit to Crown Chemical LLC to familiarize himself with the company activity and new workshop for production of plastic containers.

“We should focus on export-oriented medium enterprises, which employ over 100 people,” Davtyan said after his tour at the enterprise.

According to the Minister, Crown Chemical operates in Armenia for over 10 years and exports 30% of its output to Georgia, Russia and EU countries, as well as Asia.

Davtyan said that today financing of the company, which earlier operated only due to own funds, was discussed.

Crown Chemical LLC dealing with chemical production was established in 1997. It produces over 50 types of output, including ecologically clean paints, lacquers and other goods for repair. The production volume of the company amounted to AMD 1.2bln in 2010, including export – AMD 197mln. In 2010, Crown Chemical LLC invested USD 900,000 to expand production and establish a shop for production of plastic containers with usage of modern equipment.