Lori LLC reduced its production volume by 10-15% in 2009
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.
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.
