The presentation of "Armenian Watch Industry" company created by "Frank Muller" famous Swiss company ethnic Armenian owner Vardan Sirmakesh was held in Yerevan Saturday. The hand assemblage elitist watch producer has invested some $400 thousand into creation of the Yerevan enterprise. "Armenian Watch Industry" specializes in assembling inexpensive electronic watches, which will be exported. Nearly all component parts are exported from the South-East Asia countries. The production capacities let the enterprise assemble some half a million watches for the sum of seven million dollars a year.