ARMENIA’S DEFENSE MINISTRY SEEKS FULL OWNERSHIP OVER MILITARY COMPANY – PAPER
PanARMENIAN.Net
April 18, 2012 – 10:25 AMT
PanARMENIAN.Net – Armenia’s Defense Ministry is eager to purchase 20
per cent of shares of Automatica CJSC.
The Ministry will submit this draft decision at the coming governmental
session, Haykakan Zhamanak daily reports saying it already owns 80%
of shares in this military industrial enterprise.
“It is unclear why the Defense Ministry seeks to possess 100 % of
this company; no shareholder of any company in Armenia can in fact
interfere with the company’s activities,” paper says.
The remaining 20 per cent currently belong to a certain Zaven Tumanyan,
and the defense ministry is going to buy the share for USD 200000. The
government will allocate the sum from off-budget resources, the
daily says.
Disclaimer: This article was contributed and translated into English by Kajoyan Gevork. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
Direct link to this article: https://www.armenianclub.com/2012/04/19/armenias-defense-ministry-seeks-full-ownership-over-military-compan/