“Ashtarak Kat” Company has a buyer

USA-based Adra Remara international organization is interested to invest in “Ashtarak Kat” Company.

Armenian representation of that company is the potential investor, however, it’s not yet clear—will it become the owner or not?

Head of the Company’s recovery plan is Artak Avagyan, and heads of Armenian representation of the company are Ara and Artak Asatryans.

Tigran Khachatryan, Deputy Minister of Economic Development and Investments, stated that the Ministry attempts to find all the possibilities, by which continuity of production with “Ashtarak Kat” Company may be guaranteed. “We attempt to guarantee workplaces for the Company’s employees. This is very important for peasants, who had a long activity with the company and sold their agricultural goods. This is a complicated process and decision wasn’t made in a day.”

Currently real estate inventory is being implemented, after which everything will be clarified and an agreement will be signed. According to Artak Avagyan, it isn’t an easy process and thorough work should be implemented, “Initial works, which were to be implemented, the product was produced and introduced to the market. We have made new investments. Debts of peasants are being paid.”

The Deputy Minister stated that the organization had a range of negotiations with former leadership,

“They attempt to find combined solutions, which have been dictated by peculiar conditions.

The most important is that it’s been three days that production of the enterprise is being provided to markets.”

Artak Avagyan stated that products have been provided to markets with the same quantity like before.