SAWEX to reject

16/10/2007

One of the buyers of the caoutchouc produced by “Nairit” company is a Polish company, “SAWEX”. Several days ago Milan Subotich, a shareholder of the mentioned company, visited Armenia. According to our information, the owner of Nairit, “Rainoville Property Limited” has conducted negotiations with Milan Subotich on selling the shares of Rainoville. At present the Polish party refuses that transaction. The owners of Nairit have negotiated with SAWEX on increasing the price of the domestic caoutchouc. Currently the Polish party pays 3500 Euros per tone, where Nairit has only $2900. The price and demand of the Armenian caoutchouc is growing in the European market day by day and it is supposed that SAWEX is interested in the shares of both Rainoville, the charter capital of which is 25000 Euro, and Nairit, the shares of which are in fact pledged at the CIS intergovernmental bank. We will present our interview with a representative of SAWEX in one of our further publications.