ArmInfo. Ashtarak Kat Company has made a statement wherein it dispels some media rumors saying that the largest producer of the whole milk products in Armenia is allegedly on the verge of bankruptcy.
The Company's representative told ArmInfo the Company is not going to yield its positions in the market and can just guess what is behind such "catchy openers" in media. "It is no secret that the year 2015 proved very hard for most of the native producers, as demand has fallen dramatically, amid growing prices of imported raw materials and other production costs. Nevertheless, the Company operates as usual ensuring 40% of the total dairy production in the country," Ashtarak Kat Company Marketing Department told ArmInfo.
Speaking of the Company's successes, the source said that in 2015 alone, Ashtarak Kar participated in the international exhibitions Prodexpo 2015 and World Food 2015, and was awarded gold medals in four categories. In addition, last December, Gallup International conducted surveys on the market and found out that Ashtarak Kat is the best producer in the dairy product market.
The Company that is allegedly on the verge of bankruptcy expanded its production line last year and introduced a new brand "Smetannitsa" with low content of cholesterol. The Company expanded the assortment of cheeses, and invested in the production of new type of stinky (blue) cheese. The Company works to boost its exports too.
According to ArmInfo's analysis based on the latest financial reports of the largest producers, in 2014, the profitability of the native producers halved. This indicator of juice producing enterprises fell by 60%. Analysts say that the year 2015 proved even harder for local producers, as demand fell dramatically and many companies operated with losses. Many keep their positions in the market due to the accumulated provisions only.