Wednesday, 25 April 2012
PM Gets Acquainted With Armenian-Swiss Joint Venture’s Development Programs
Prime Minister Tigran Sargsyan visited the Armenian-Swiss ASTRA Company which ensures production of a hard-fusion and drills milling tools for high precision.
The company is equipped with modern European facilities, due to which its products are used in different areas, in particular, electronics, medicine, watch-making, jewelry and other products. Raw materials are procured with well-known companies, such as Konrad Friedrichs, Sandvik, Plansee Tizit, Hard Mettal and so on.
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In 2011, the Company issued approximately AMD 34.5 million worth of products recording a 132:7% growth as compared to 2010. Sales rose to AMD 31 million, of which about 8 million was exported. The company employs 13 people.
ASTRA Crystals was established on the basis of ASTRA in 2011. Under its investment program it is planned to raise crystals and processing technologies.
The company is building a new factory, which will be equipped with the latest
Russian and Chinese technologies and equipments, which will make it possible to enhance the monthly production to about 2 tons of crystals and 3 tons of raw materials.
The primary acquisition of raw materials will be made from China and the CIS countries. There are a wide range of application areas for the production with the LED market being a main focus along with the implementation of laser and optical elements of the development, preparation of various types of special application windows.
USD 9 million will be required under the investment program.
The construction of the plant is currently in progress to be completed by the end of June, 2012. As early as this August it is planned to organize a monthly production capacity of 1 ton, and after 9 months the capacity will be doubled thanks to replenishment in equipment.
The project will create at least 20 jobs with average salaries of about AMD 180 thousand, with the output to be realized in China, Russia and the EU countries.
The company is going to turn to the government for delay of VAT payments on imported equipments.
