ARMENAL posts 3.7% production drop in 2012 first half

ARMENAL posts 3.7%  production drop in 2012 first half

PanARMENIAN.Net - Yerevan foil rolling plant ARMENAL produced 12 630,1 tons of foil in the first half of 2012, decreasing by 3.7% as compared with the same period last year.

Drop in production is conditioned by last winter’s unfavorable weather conditions in Black Sea ports, causing difficulties for ARMENAL to import raw materials from RUSAL factories.

According to Armenia’s State Revenue Committee, in Jan-June 2012 ARMENAL replenished RA budget with AMD 672,85 mln, increasing by 11,1% as compared to the last year’s index. Payments to Armenia State Social Security Fund grew by 12,0% to total AMD 137,85 mln, the company’s press service reported.

In 2012 first half year, average salary increased by 5% to total AMD 262 105

 Top stories
The Energy Minister thanked “our friendly country, Armenia” and his Armenian counterpart “for providing a huge assistance”.
"There have been no new talks on gas exports to Europe, but there are routes and facilities which we need to use," Majedi said.
"We are particularly pleased by a 15 percent rise in lending to small and medium-sized businesses,” the bank’s financial director said.
It also signed 33 Reimbursable Advisory Service agreements with 11 countries in the region for a total amount of $45 million.
Partner news