Who Is New Owner of Ashtarak Kat?

  • Business - 02 December 2016, 02:43
Adra Remara, a company that operates in the United States, is interested in investing in Ashtarak Kat, one of the biggest dairy producers in Armenia.

The Armenian office of this company is a potential investor but it is not known whether it will be the owner of it.

The head of the company’s financial recovery program, and the heads of the Armenian office of the company are Ara and Artak Asatryan.

The deputy minister of economic development and investments Tigran Khachatryan said the ministry is trying to ensure the continuity of the Ashtarak Kat brand.

“We are trying to ensure the jobs of this company. This is highly important for those farmers who have been long-term partners with this company and sold their products. This is a complicated process, and it is impossible to make a decision in a day,” he said.

Currently an inventory of immovable property is underway, after which an agreement will be signed. “We have already done the preliminary work, the product has been produced and marketed. We made investments. The debts to farmers are being repaid,” Artak Avagyan says.

The deputy minister said the company has had negotiations with the former management. “They are trying to develop joint solutions which are determined by today’s specific conditions. The most important thing is that the company’s product is supplied to stores for three days now.”

Artak Avagyan says the same quantity of products has been supplied to stores as before the stoppage.