Joint Armenian-German company Elbat to produce accumulators

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04.09.2009, 00:25

A joint Armenian-German venture Elbat will start production of accumulators (storage batteries) from next year, Thomas Hail, director of German Cronimet Mining company told yesterday during a meeting with Armenian minister of economy Nerses Yeritsian.

YEREVAN, September 3, /ARKA/. A joint Armenian-German venture Elbat will start production of accumulators (storage batteries) from next year, Thomas Hail, director of German Cronimet Mining company told yesterday during a meeting with Armenian minister of economy Nerses Yeritsian.

According to a statement posted on the official website of the Armenian ministry, production of storage batteries will be implemented as part of a project that has been implemented by Cronimet Mining and Armenian company Elektron since 2007.

Thomas Hail was quoted in the statement as saying that the accumulators will be high quality and competitive products. According to him, after getting certification they will be sold to Russia, Ukraine, Georgia, Turkey and European countries.

The statement said that both men discussed also a set of issues pertaining to expansion of German investments in Armenia, exchange of information and experience and joint development of innovative projects. In 2004 Cronimet acquired 60% of Armenia’s biggest copper and molybdenum plant in Zangezur. Cronimet holds also 51% in Yerevan Pure Iron Plant. M.M. -0-

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