"Nairit" chemical plant in Armenia declares bankrupt

Baku. 1 December. REPORT.AZ/ "Nairit" plant known as strategic enterprise of Armenia declared bankrupt.

Report informs citing the Armenian media, Yerevan's Shengavit district court made this decision on the appeal related to the "Electric Networks of Armenia".

According to the report, in May 2009, contract was signed between the company and network. Since that date, the plant has nearly debt of 2.5 mln USD to network. The plant was unable to pay the debt during this period.

Notably, "Nairit" chemical plant cannot pay salaries to its employees. The workers of the factory several times protested in front of the plant due to the unpaid wages. The enterprise has debts of 15 mln USD to employees.

Notably, this plant is considered to be Armenia's strategic enterprises. The plant's owner is "Rhinoville Property Limited" company. "Nairit" chloroprene rubber production. "Nairit" produces chloroprene rubber.