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 | Armenia, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. Mkhitaryan raises arrest of former Karabakh leaders in Azerbaijan Inter Milan star Henrikh Mkhitaryan has shared a news story about the extension of the arrest of former Karabakh leaders. |