Yerevan brandy company shifts to signing long-term contracts with wine growers

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08.04.2013, 21:06

Ara Grigorian, the chief executive officer of the French-owned Yerevan Brandy Company (YBC), said today the company is shifting to signing long-term contracts with wine growers.

Yerevan brandy company shifts to signing long-term contracts with wine growers

YEREVAN, April 8. / ARKA /. Ara Grigorian, the chief executive officer of the French-owned Yerevan Brandy Company (YBC), said today the company is shifting to signing long-term contracts with wine growers.

Speaking to reporters, he said the company has concluded the first seven-year contract to purchase 300 tons of grapes a year with a wine grower in Armavir region.

Each year, the YBC will purchase 300 tons of grapes from this farmer at a minimum price of 130 drams per one kg. Ara Grogorian said the price may be revised upward in September.

Overall, the company is going to sign 413 long-term contracts this year with 120 farmers in Armavir region, 94 farmers in Ararat and 199 in Tavush regions to buy 8.5 thousand tons of grapes from them. He said the contracts will be canceled in extreme cases. When problems occur the company will dispatch its experts to the ground to help resolve them.

The Yerevan Brandy Company was founded in 1887. In 1998 it was sold to French Pernod Ricard at $30 million. -0-

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