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"Mika cement" pays off its debts and resumes production
by Arthur Yernjakyan
ARMINFO
Friday, October 10, 18:50
The "Mika cement" plant that has not been functioning since April of
the current year, started production. It will produce 100 thsd tons
of cement till the end of 2014, Director of the plant, Naira
Martirosyan, told Arminfo correspondent.
She said that the production was resumed at the end of September when
all the main debts were paid off. "We paid off the main debts on
salary and electric power and at present we have been paying off the
current debts", - she said. She also added that at present the
furnace is functioning and the full circle of production has been
organized. The plant has got into top gear. The total of 410 people
have been employed at the plant. The production of the plant is sold
at the local market. However, the company is going to export its
production to Georgia and Russia, if the prices are competitive.
Martorisyan also added that they are going to extend assortment of
production and to raise its quality.
To note, the production volumes of "Mika cement" started decreasing in
2009 after the global economic crisis. So, in 2011 "Mika cement"
produced about 120-130 tons of cement, although before the crisis in
2008 the production volume was 375 thsd tons.
To note, businessman Mikhail Bagdasarov is a former owner of the
plant. The property of "Mika Cement" was pawned for the credit debt to
VTB Bank (Armenia). "Mika Cement" did not publish its financial report
for 2013. But we can see from the previous reports that the debt of
the enterprise was growing for the last years. So, in 2012 the loss of
the company was more than 2,3 billion AMD versus 22 million AMD in
2011 and 19 million AMD in 2010 and 5,6 million AMD in 2009.
by Arthur Yernjakyan
ARMINFO
Friday, October 10, 18:50
The "Mika cement" plant that has not been functioning since April of
the current year, started production. It will produce 100 thsd tons
of cement till the end of 2014, Director of the plant, Naira
Martirosyan, told Arminfo correspondent.
She said that the production was resumed at the end of September when
all the main debts were paid off. "We paid off the main debts on
salary and electric power and at present we have been paying off the
current debts", - she said. She also added that at present the
furnace is functioning and the full circle of production has been
organized. The plant has got into top gear. The total of 410 people
have been employed at the plant. The production of the plant is sold
at the local market. However, the company is going to export its
production to Georgia and Russia, if the prices are competitive.
Martorisyan also added that they are going to extend assortment of
production and to raise its quality.
To note, the production volumes of "Mika cement" started decreasing in
2009 after the global economic crisis. So, in 2011 "Mika cement"
produced about 120-130 tons of cement, although before the crisis in
2008 the production volume was 375 thsd tons.
To note, businessman Mikhail Bagdasarov is a former owner of the
plant. The property of "Mika Cement" was pawned for the credit debt to
VTB Bank (Armenia). "Mika Cement" did not publish its financial report
for 2013. But we can see from the previous reports that the debt of
the enterprise was growing for the last years. So, in 2012 the loss of
the company was more than 2,3 billion AMD versus 22 million AMD in
2011 and 19 million AMD in 2010 and 5,6 million AMD in 2009.