$14.5 million invested by International Masis Tabak over last five years in new equipment
09.11.2015,
11:07
International Masis Tabak LLC has invested $14.5 million in modern equipment over the last five years, Lusine Gevorgyan, executive director of the International Masis Tabak, said Saturday as Armenian President Serzh Sargsyan visited the company as part of his Ararat province tour.
YEREVAN, November 7. /ARKA/. International Masis Tabak LLC has invested $14.5 million in modern equipment over the last five years, Lusine Gevorgyan, executive director of the International Masis Tabak, said Saturday as Armenian President Serzh Sargsyan visited the company as part of his Ararat province tour.
The president visited this company of Grand Holding to see tobacco production.
Gevorgyan said the company has 1,330 employed people now with an average salary of AMD 172,000.
The company exports 90% of its output to CIS, Europe and Middle East countries.
Mikael Harutyunyan, the head of Grand Master, another company of the holding, said that the company produces packing for tobacco products.
About $15.9 million has been invested in re-equipment programs since 2010. Some 250 people with an average monthly salary of AMD 183,000 are working for the company. Its employees are mostly local residents.
“Sales for nine months of this year total AMD 10.5 billion – a 52.4% growth, compared with the same period a year before,” Mikael said.
Hovhannes Tadevosyan, executive director of Masis Tobacco, said that $5.1 million has been invested in the company over the last five years. This allowed building of 318 tobacco dryers in Armavir, Tavush, Ararat and Vayots Dzor provinces as well as in Nagorno-Karabakh Republic. The company produces and process crude tobacco materials.
“This year tobacco was seeded on 620 hectares and the crop is expected to total 10,000 tons,” Tadevosyan said.
In his words, the company has 502 employees now. Their average monthly salary is AMD 120,000. The company has earned AMD 2.08 billion since the beginning of this year from its sales.
The company continues purchasing crude tobacco from villagers.
Grand Holding transferred AMD 23.1 million to the government budget in Jan-Sept 2015 - 28% more than in 2014. ($1 – AMD 477.72). --0-----
The president visited this company of Grand Holding to see tobacco production.
Gevorgyan said the company has 1,330 employed people now with an average salary of AMD 172,000.
The company exports 90% of its output to CIS, Europe and Middle East countries.
Mikael Harutyunyan, the head of Grand Master, another company of the holding, said that the company produces packing for tobacco products.
About $15.9 million has been invested in re-equipment programs since 2010. Some 250 people with an average monthly salary of AMD 183,000 are working for the company. Its employees are mostly local residents.
“Sales for nine months of this year total AMD 10.5 billion – a 52.4% growth, compared with the same period a year before,” Mikael said.
Hovhannes Tadevosyan, executive director of Masis Tobacco, said that $5.1 million has been invested in the company over the last five years. This allowed building of 318 tobacco dryers in Armavir, Tavush, Ararat and Vayots Dzor provinces as well as in Nagorno-Karabakh Republic. The company produces and process crude tobacco materials.
“This year tobacco was seeded on 620 hectares and the crop is expected to total 10,000 tons,” Tadevosyan said.
In his words, the company has 502 employees now. Their average monthly salary is AMD 120,000. The company has earned AMD 2.08 billion since the beginning of this year from its sales.
The company continues purchasing crude tobacco from villagers.
Grand Holding transferred AMD 23.1 million to the government budget in Jan-Sept 2015 - 28% more than in 2014. ($1 – AMD 477.72). --0-----
