Armenia's Defense Ministry seeks full ownership over military company - paper

Armenia's Defense Ministry seeks full ownership over military company - paper

PanARMENIAN.Net - Armenia's Defense Ministry is eager to purchase 20 per cent of shares of Automatica CJSC.

The Ministry will submit this draft decision at the coming governmental session, Haykakan Zhamanak daily reports saying it already owns 80% of shares in this military industrial enterprise.

“It is unclear why the Defense Ministry seeks to possess 100 % of this company; no shareholder of any company in Armenia can in fact interfere with the company’s activities,” paper says.

The remaining 20 per cent currently belong to a certain Zaven Tumanyan, and the defense ministry is going to buy the share for USD 200000. The government will allocate the sum from off-budget resources, the daily says.

Partner news
 Top stories
Serzh Sargsyan addressed a letter of condolence to Barack Obama on the destruction caused by Oklahoma City tornado.
Hrach Berberyan: €2500 will be spent for the coverage of 1 hectare crop, whereas the price of one anti-hail station totals $30 000.
The asteroid is said to measure in at about 1.7-miles long and will be about 3.6 million miles away from Earth as it passes.
Artsrun Hovhannisyan: the helicopter wasn't damaged; there's no evidence as to the shooting except the accounts of the villagers.
Partner news