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EXCLUSIVE CONTRACTS: SUPPLYING MEDALS TO ARMENIAN GOVERNMENT
15:32, February 9, 2015
Marine Madatyan
Grisha Balasanyan
When it comes to supplying the Armenian government with medals, to be
awarded by its various ministries and state agencies to individuals
and organization s deemed worthy of praise and merit, Yerevan Jewellery
Plant-1 OJSC has cornered the market.
Founded in 1950, Gnomon Armenia boasts that it is the largest jewellery
manufacturer in the region. In 2014, it received 23 million AMD
(US$48,200) in payment for supplying the Armenian government with a
variety of medals and decorative awards. In most cases, the company
won the contracts on a non-competitive basis.
Here's a list of some of the state agencies that purchased medals
from Gnomon:
Ministry of Education and Science: 5,760,000 AMD contract to supply
60 8,000 AMD "Progress" medals and 110 48,000 AMD commemorative medals.
The former are made of gilded brass and the former, gilded silver.
Armenian Police: 11,040,720 AMD contract. The company has supplied
the police with 1,406 medals of various types under its exclusive
contract. The contract stipulates that the medals must be made from a
"light metal", without specifying what type.
Ministry of Nature Protection: 400,000 AMD contract.
Ministry of Economy: 600,000 AMD contract
Ministry of Emergency Situations: 1,305,000 AMD contract. Compnay
has supplied 90 gold-plated brass medals
Armenia's Investigative Committee: 4,459,000 AMD contract. Company
has supplied 686 ID cards fashioned from a copper alloy at 6,500 AMD
per card.
To produce state medals, chest decorations and other awards in
Armenian, a company needs a license issued by the Ministry of Finance.
Gnomon received such a license in 2007.
According to Nasdaq OMX Armenia, Gnomon OJSC is 75.89% owned by Gnomon
Ltd. 10.13% is owned by Emil Grigoryan, Chairman of the Jewellers
Association of Armenia. (Grigoryan is also general director of
Gnomon). 2.28% is owned by family members of Emil Grigoryan. The
remaining 11.7 % is owned by 1,454 shareholders.
Gnomon Ltd., registered in Russia, is 50% owned by Emil Grigoryan. The
other 50% is owned by his daughters.
http://hetq.am/eng/news/58461/exclusive-contracts-supplying-medals-to-armenian-government.html
15:32, February 9, 2015
Marine Madatyan
Grisha Balasanyan
When it comes to supplying the Armenian government with medals, to be
awarded by its various ministries and state agencies to individuals
and organization s deemed worthy of praise and merit, Yerevan Jewellery
Plant-1 OJSC has cornered the market.
Founded in 1950, Gnomon Armenia boasts that it is the largest jewellery
manufacturer in the region. In 2014, it received 23 million AMD
(US$48,200) in payment for supplying the Armenian government with a
variety of medals and decorative awards. In most cases, the company
won the contracts on a non-competitive basis.
Here's a list of some of the state agencies that purchased medals
from Gnomon:
Ministry of Education and Science: 5,760,000 AMD contract to supply
60 8,000 AMD "Progress" medals and 110 48,000 AMD commemorative medals.
The former are made of gilded brass and the former, gilded silver.
Armenian Police: 11,040,720 AMD contract. The company has supplied
the police with 1,406 medals of various types under its exclusive
contract. The contract stipulates that the medals must be made from a
"light metal", without specifying what type.
Ministry of Nature Protection: 400,000 AMD contract.
Ministry of Economy: 600,000 AMD contract
Ministry of Emergency Situations: 1,305,000 AMD contract. Compnay
has supplied 90 gold-plated brass medals
Armenia's Investigative Committee: 4,459,000 AMD contract. Company
has supplied 686 ID cards fashioned from a copper alloy at 6,500 AMD
per card.
To produce state medals, chest decorations and other awards in
Armenian, a company needs a license issued by the Ministry of Finance.
Gnomon received such a license in 2007.
According to Nasdaq OMX Armenia, Gnomon OJSC is 75.89% owned by Gnomon
Ltd. 10.13% is owned by Emil Grigoryan, Chairman of the Jewellers
Association of Armenia. (Grigoryan is also general director of
Gnomon). 2.28% is owned by family members of Emil Grigoryan. The
remaining 11.7 % is owned by 1,454 shareholders.
Gnomon Ltd., registered in Russia, is 50% owned by Emil Grigoryan. The
other 50% is owned by his daughters.
http://hetq.am/eng/news/58461/exclusive-contracts-supplying-medals-to-armenian-government.html