"RUSAL-ARMENAL" EXCEEDS THE OUTPUT INDEXES SET FOR THIS YEAR
ARMENPRESS
OCTOBER 1, 2009
YEREVAN
The 13.4% tax set by the European Union for import of aluminum foil
from Armenia will not harm the Yerevan "Rusal-Armenal" factory, said
the press secretary of the company Alexander Melkumian to Armenpress.
According to him the leadership of "Rusal-Armenal" assesses it
as a step declining the competitiveness of the factory stressing
that settlement of this issue is under the authority of Armenian
Government. A. Melkumian said that the European Union revealed its
decision for increase of taxes with the circumstance that as a result
of cheap import of the Armenian, Chinese and Brazilian foil the local
producers bare significant loses. The taxes will come into force from
October 8. A. Melkumian clarified that the decision refers only to
a part of the foil exported from Armenia. "We continue to work with
Europe," he noted. The main market of factory product is the USA
where 80% of the industrial foil is consumed. The realization of the
remaining part is conducted in Middle East and Europe. Armenia is a
small market of realization of the foil; here only 1% of the factory
product is consumed.
At present the factory has agreements for the supply of the foil
therefore there are no realization issues. Moreover, despite the
crisis the factory has greatly increased its output volumes; the
product for first 8 months of 2009 reaches nearly 14.000 tons, which
for nearly 80% exceeds the indexes registered during the same period
last year. The output indexes intended for this year have already
been surpassed. During 2009 "Rusal-Armenal" is one of the Armenian
enterprises having provided biggest export volumes.
Referring to the prices for realization of the foil A. Melkumian
said that as it is produced from the aluminum, which considered a
stock metal, and its prices in the international markets considerably
increase making impact on the price for foil as well.