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Newspaper: Political Decision Made To Temporary Shut Down Nairirt Pa

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  • Newspaper: Political Decision Made To Temporary Shut Down Nairirt Pa

    NEWSPAPER: POLITICAL DECISION MADE TO TEMPORARY SHUT DOWN NAIRIRT PANT

    by Alexandr Avanesov

    Friday, January 16, 14:44

    Political decision has been adopted to temporary shut down the Nairit
    Plant, a local Haykakan Zhamanak Daily writes.

    "The authorities of Armenia pin no hopes with reactivation of the
    plant. The process of the temporary shutdown has been launched. Almost
    2,000 employees will be dismissed in February. Some 480 people will
    remain at the plant to keep it in the state of conservation. Later, the
    staff will be reduced to 250 people. The plant will be fully liquidated
    in few years, unless there are prospects of its reactivation," the
    paper writes.

    As it was reporter earlier, 1,700 employees of the Nairit Plan will be
    dismissed starting February 6 2015. The employees have already received
    relevant notifications. Earlier today, on 16 January, the staff of
    the Nairirt Plant disseminated an open letter addressed to President
    Serzh Sargsyan, wherein they demand their salaries for 18 months. The
    staff recalls that the government represented by the Nairirt-2 state
    CJSC has a 5 billion drams debt to the Nairit Plant CJSC and ask to
    spend that amount to repay the areas of wages. They recall that the
    prime minister and minister of energy and natural resources have
    already declared that the salaries of the Nairit staff will not be
    paid. The staff qualifies the decision as a violation of the Labor
    Code of Armenia and urges the president to tackle the problem.

    Nairit has been standing idle for quite a while already, with its
    employees haven't been paid wages for as long as 15 months. The
    plant's debts total 50bln AMD or $130mln (including 5bln AMD in
    unpaid wages). In the 1980s Nairit had almost 10-12% of the global
    rubber market. In 2006 90% of Nairit Plant was sold to Rhinoville
    Property Limited for $40mln. The remaining 10% is owned by the Armenian
    Government. Since Apr 2010 the plant has been idle, with its shares
    given as security against the CIS InterStateBank's loan.

    http://www.arminfo.am/index.cfm?objectid=18DEDA30-9D75-11E4-8AA80EB7C0D21663


    From: Baghdasarian
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