Yerevan /Mediamax/. Despite all difficulties in 2008, “Euroterm” CJSC managed to preserve financial stability, and this became the basic factor in the process of reconsideration of the company’s rating by the Central Bank of Armenia, which assigned it B rating.

General Director of “Euroterm” CJSC Vahe Kazaryan said this in an interview to Mediamax.

According to him, one of the company’s achievements was the increase of capital turnover coefficient to 193 days, instead of 208 days last year.

Vahe Kazaryan noted that before August, 2008, growth was observed in export volumes of natural juices, jams, vegetable cans and concentrated fruit sauces under “Noyyan” trademark, produced by the company, however the events in South Ossetia and Abkhazia, as well as the influence of the known financial problems on the economies of importer-states had their negative influence on the final results of export, and, as a result, in 2008 the export volume of the company cut down by 5%. 

Vahe Kazaryan stressed that the observed optimistic tendencies in U.S. economy and thus the expected USD appreciation may lead to decrease of AMD exchange rate against the leading world currencies, which will undoubtedly have a positive influence on competitiveness of Armenian goods and increase of export volume.

“Another factor, capable of assisting the increase of domestic companies’ production volumes, can be the positive aspiration of the Armenian government to defend the domestic producers by means of limiting the volumes of import and establishing conditions for import substitution production growth”, Vahe Kazaryan stated.

Talking about the company’s plans for 2009 in conditions of the global crisis, Vahe Kazaryan stated that “if we manage to preserve the indices and increase the sales speeds, we will be able to consider the year successful”.

Commenting on the company’s plans on setting up production of “Noyyan” natural juices in Russia, Vahe Kazaryan stated that “unfortunately, in the current situation we need to wait for better times”.