YEREVAN, March 15. \/ARKA\/. On Monday, Ara Grigoryan, executive director of Yerevan Brandy Factory, speaking at a press conference, said the factory would restore its pre-crisis output in 2012.<\/p>\n
\u201cUnfortunately, we won\u2019t reach the output we had in 2007 and 2008, and will do it only in 2012,\u201d he said.<\/p>\n
The factory produced only 2.8 million liters of brandy in 2009 against 4.3 million in 2008.<\/p>\n
Grigoryan said that the reduction was due to the fallen buying power and demand for brandy as well as adverse impacts of the global crisis.<\/p>\n
\u201cThe factory is now trying to diversify its outlets to get rid of dependence on Russian market, where it sends the major part of its output,\u201d he said.<\/p>\n
The factory exports 80% of its output to Russia, Ukraine and Belarus.<\/p>\n
Despite the economic crisis, Yerevan Brandy Factory managed to produce 4 million liters in 2009, as in 2008, and build up its profit by 14% to AMD 17 billion ($45.1 million).<\/p>\n
Armenia\u2019s brandy output shrank by 38.4% in 2009, compared with 2008, to 9869 thousand liters.<\/p>\n
Yerevan Bandy Factory was established in 1887.<\/p>\n
In June 1998, the factory joined Pernod Ricard international corporation.<\/p>\n
Pernod Ricard bought the factory through an international tender at $30 million. M.V.-0—<\/p>\n","protected":false},"excerpt":{"rendered":"
Yerevan brandy factory to restore its pre-crisis output in 2012<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[12139,9216],"tags":[15837,12688,12534,12535],"class_list":{"0":"post-8814","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy-en","7":"category-news","8":"tag-armenia-2","9":"tag-armenia-analyst-inflation","10":"tag-brandy-factory","11":"tag-restore"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/8814","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=8814"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/8814\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=8814"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=8814"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=8814"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}