Products, Companies & Markets


Armenia’s tablet production sees strong growth in seven months
/Sept 18/Panorama/

Tablet production grew strongly in Armenia in the first seven months of 2018, the latest statistics show.

Some 364 units of tables were manufactured in the country from January to July 2018, up by 6.6 times from the same period last year, the figures released by the National Statistical Committee show.   

Armenia’s computer production also grew by 2.2 times in seven months – up from last year’s 322 to 724 this year.

Armenia did not produce smartphones in the first seven months of the running year, while some 330 units of cell phones were manufactured in the country from January to July 2017.

The first Armenian Armphone smartphones have gone on sale since January 2016. Prior to that, Armenia did not produce mobile phones.

In the July 4 Cabinet meeting, Prime Minister Nikol Pashinyan called on the public to give priority to Armenian products, claiming it is ‘more pleasing and profitable and will increase opportunities for local producers.’     

California-based firms to invest in Armenia’s IT sector
/Sept 19/Public Radio of Armenia/

The Los Angeles-based Alena Solutions software company is planning opening offices in IT Centers of the Armenian cities Vanadzor and Gyumri. A relevant agreement was signed between executive director of Gyumri Information Technologies Center Amalya Yeghoyan and Executive Director of Alena Solutions Asbed Kassis.

Under another agreement signed with Hireclout co-founder Avetis Antaplyan, the firm engaged in technology recruitment and consulting will be opening office in Gyumri.

Amalya Yeghoyan’s is paying a working visit to the US with support from Business Armenia.

“Business Armenia is ready to utilize its large network of representatives to support the foreign investments in Armenia. We are happy that these investments are to be directed to Armenia’s provinces,” stated the CEO of Business Armenia, Mr. Armen Avak Avakian.

“Gyumri, Vanadzor, Gavar are promising for investments in high-tech. Those have rich infrastructures, university branches. The first two have techno parks. This is remarkable because we are implementing a strategy of decentralizing the investments,” Amalya Yeghoyan said.

"Golden Grape Armas" Company intends to establish a cannery, a livestock farm, a fish farm and a dormitory for its employees
/Sept 17/Arminfo/Alexander Avanesov/

The production capacity of Golden Grape Armas Company can be up to 1,000 t of grapes a year, the Prime Minister Nikol Pashinyan was informed during his visit to Aragatsotn region, the press service of the Prime Minister informs.

According to the source the company was established in 2007. Since that day up to now the Company has acquired 180 hectares of land, constructed wine and brandy factory – vineyards were established on 110 hectares, cognac, wine and table grape varieties were cultivated, and 40 hectares of land occupy fruit orchards – peaches, plums, apple, apricot and cherry. The Company is going to build a cannery, a livestock farm, a fish farm and a dormitory for its employees. All these facilities will be surrounded by an artificial lake which is under construction now.

The Head of Government toured the parks to get acquainted with the activities and the anti-hail protection system. The management briefed the Prime Minister on the plant's production capacity, storage and recycling facilities and the development programs.

It was noted that the production capacity of the plant can be up to 1,000 t of grapes a year, with the output to be marketed in the US, Europe, China and Japan in addition to the domestic market. Work is being done to expand the geography of sales markets. It was also mentioned that Golden Grape Armas is implementing a program for the development of agro tourism through seminars, guided tours, tasting events, expositions and cultural events.

Prime Minister Pashinyan next met with the participants of the international conference organized by the Central Bank of Armenia as part of celebrations of the 25th anniversary of Armenian dram's introduction. Accompanied by his spouse Anna Hakobyan, Nikol Pashinyan attended a reception hosted to that end.

Earlier ArmInfo has informed that the investments into the company made 20 mln EUR, 7 mln of which were allocated for construction of brandy and wine plant.

Rusal's foil plant in Armenia starts reducing output – sources
/Sept 18/Reuters/

MOSCOW/YEREVAN – Rusal’s foil-rolling plant Armenal has started cutting production due to U.S. sanctions on the Russian aluminium giant, a source at the plant and a source close to Rusal said.

Armenal, which is based in Armenia and employs 670 people, has seen demand for its products fall since Washington imposed sanctions in April against Russian businessman Oleg Deripaska and some of the companies he controls, including Rusal, the sources said.

Armenal and Rusal declined official comment.

The plant, which produced 33,720 tonnes of foil products in 2017, mainly for the North American and European markets, may temporarily suspend all of its production, the source at the plant said.

He did not say when and under what conditions the suspension could take place, but said 184 of Armenal’s workers would be transferred to a regime of forced outage with two thirds of their salary by the end of September.

The U.S. sanctions hit Rusal’s steady supply of raw materials and products within the group. In September, sources familiar with the discussions told Reuters that European customers would avoid signing 2019 supply agreements with Rusal.

In August, Rusal started shutting down production at one of its smaller plants, the Nadvoitsky aluminium smelter in Russia’s Karelia region.

Washington recently said Rusal’s customers from before the imposition of sanctions on April 6 could sign new contracts with the company without the risk of being hit with “secondary sanctions” themselves.

The guidance did not, however, address whether OFAC would extend a deadline of Oct. 23 for U.S. customers to wind down business with Rusal. (Reporting by Anastasia Lyrchikova and Hasmik Mkrtchyan; writing by Polina Devitt; editing by Kirsten Donovan)

Armenian truck en route to the Netherlands robbed in Turkey
/Sept 20/Public Radio of Armenia/

A truck laden with 20 million tons of molybdenum en route from Armenian to the Netherlands was topped and robed in Turkey’s Kocaeli.

According to Kocaeli Gazetesi, the attackers posed as policemen to stop the truck.

Police say seven were involved in the gang, four have been detained, three are on the run.