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Armenia's Energy Ministry plans to sell part of Nairit Plant's assets
by Arthur Yernjakyan
Tuesday, January 27, 21:53
Armenia's Energy and Natural Resources Ministry is planning to sell
part of Nairit Plant's assets, Armenia's Energy and Natural Resources
Minister Yervand Zakharyan told journalists on Tuesday.
He believes that this can help the company to repay unpaid wages to
its personnel.
Zakharyan is planning to visit the plant on Feb 2.
As it was reporter earlier, as many as 1,700 employees of the Nairit
Plant will be dismissed starting February 6 2015. The employees have
already received relevant notifications.
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.
Armenia's biggest rubber producer, 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 InterState
Bank's loan.
http://www.arminfo.am/index.cfm?objectidÍ5AD2F0-A655-11E4-95110EB7C0D21663
From: A. Papazian
by Arthur Yernjakyan
Tuesday, January 27, 21:53
Armenia's Energy and Natural Resources Ministry is planning to sell
part of Nairit Plant's assets, Armenia's Energy and Natural Resources
Minister Yervand Zakharyan told journalists on Tuesday.
He believes that this can help the company to repay unpaid wages to
its personnel.
Zakharyan is planning to visit the plant on Feb 2.
As it was reporter earlier, as many as 1,700 employees of the Nairit
Plant will be dismissed starting February 6 2015. The employees have
already received relevant notifications.
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.
Armenia's biggest rubber producer, 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 InterState
Bank's loan.
http://www.arminfo.am/index.cfm?objectidÍ5AD2F0-A655-11E4-95110EB7C0D21663
From: A. Papazian