Lori LLC reduced its production volume by 10-15% in 2009December 1, 2009 - 13:50 AMT 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. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Ucom equips four bus stops in Ijevan with free Wi-Fi Ucom now provides free Wi-Fi coverage in smart bus stops in four communities of Ijevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |