Pernod Ricard Discusses Armenian Venture

YEREVAN (Noyan Tapan)–The vice-president of the French "Pernod Ricard" company–Eric de Bronset–at a news conference last week welcomed the determination of the Armenian government in the issue of denationalizing the country’s economy. Pernod Ricard purchased the Yerevan Brandy Factory last month.

Pointing out that Pernod Ricard is going to stay in Armenia for long–de Bronset said that the company has 78 factories all over the world. All of them are involved in the production of alcoholic and non-alcoholic drinks as well as juices used in yogurt production. In particular–one billion bottles of brandy–whisky–rum and other beverages are produced every year–the Scotch whisky being produced in Scotland–the Irish whisky in Ireland and so on.

The Armenian brandy will be produced in Armenia with the use of Armenian grapes and water. De Bronset pointed out that the factory is in good condition and production is now in process. At the same time he said that the building of the factory–its facilities and equipment are of no value.

Only its products and personnel are of value. Only $2 million of the $30 million deal were paid immediately after the deal was concluded–the rest of the sum will be paid by December. However–according to de Bronset–paymen’s of the profit and value-added taxes to the budget are more important than the sum of the selling price for the factory.

Asked why the name "cognac" had been removed in defiance of the agreement–Pernod Ricard’s vice-chairman’said that there are international agreemen’s and "the company had assumed no obligations to violate them."

He said he didn’t mind writing the word "Armenian" on the label.

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