Kocharian receives president of Volgaburmash company


June 15 2004

YEREVAN, JUNE 15, ARMENPRESS: President Robert Kocharian received
today Andrey Ischuk, a member of the upper chamber of the Russian
Federation’s parliament and the president of Russian Volgaburmash
company. Ischuk has arrived in Armenia to accomplish the preparatory
work for the purchase of the controlling stake of the Yerevan-based
Nairit plant.

Volgaburmash is an advanced machine works in Russia and is one of the
leading world enterprises in engineering. It has also experience in
running enterprises outside Russia, particulalry, in Ukraine.

Kocharian’s press office said that Andrey Ischuk briefed the president
on the pace of the preparatory work, as well as on the planned
investments in the plant. He said Volgaburmash is resolute in its
intention to restore the previous fame of Nairit plant and is designing
aggressive plans aimed to increase the volumes of production and sale.

He also said the preparatory work is moving to an end and the deal
will be signed in late June. Kocharian welcomed the entrance of the
company in Armenia, expressing confidence that Armenia will have a
stable and reliable partner in the person of Volgaburmash.