Economy Ministry jointly with Armenal, develop schemes to diversify  sales markets for enterprise`s products

ArmInfo.The Ministry of Economy, together with the Armenal foil rolling plant, is developing new schemes to diversify the sales markets for the enterprise's products and sell them in alternative markets.

This was reported by the press service of the Ministry of Economy,  referring to the results of the visit of the Minister of Economy of  Armenia Gevorg Papoyan to the Armenal plant. According to the source,  accompanied by General Director of Armenal Artur Zakaryan, the  minister toured the territory of the plant, got acquainted with the  technological capabilities and production conditions. Zakaryan told  Papoyan about the activities of the enterprise, existing problems and  possible ways to solve them.  In turn, employees of the Ministry of  Economy presented state assistance mechanisms that are aimed at  increasing the productivity and competitiveness of the enterprise. 

Notably, information was spread in a number of telegraphic channels  last year,  that the management of the Rusal joint company, which  owns Armenal, presented the Armenian enterprise with a demand to  reduce the number of employees by 30% (200 people) with the  subsequent possible mothballing of the businesses for the purpose of  sale. The deadline was set until January 1, 2024. As the saying goes,  there is no smoke without fire, and According to the Statistical  Committee, at the end of 2023, the production of aluminum foil in  Armenia was significantly reduced by 21.1 percent, totaling 25,669.5  tons.  At the same time, the production of aluminum plates, sheets,  strips and tapes reached a significant 8.8-fold increase in 2023 -to  1.4 thousand tons. Already in Jan-Feb 2024, aluminum foil production  significantly accelerated the rate of y-o-y decline from 8.1% to  36.1%, to 3,163 thousand tons.