Yerevan/Mediamax/. There is no reduction in demand for the production of ARMENAL foil plant, the company continues to export its production and operates at a profit.

Press secretary of the plant, Alexander Melkumyan, said this in the interview to Mediamax commenting on western media reports about demand and price reduction for foil in Europe in connection with the debt crisis in the European Union and problems experienced by the suppliers. Prices per metric ton of aluminum at London Metal Exchange (LME) reached the annual maximum in April 2011 ($‌2.67 thousand) and then fell making $‌2.29 thousand in September.

“Most of our production is exported to the American market and no reduction of orders is observed at the moment,” Alexander Melkumyan said.

ARMENAL’s share in Armenia’s export exceeds 8%. According to data of Armenian State Revenue Committee, the export of aluminum foil in the first half of 2011 grew by 19%, making $‌45.07mln, whereas the physical volume during the accounting period grew by 4% (12,6 thousand tones). Еhe press service of the plant reported earlier that in 2011 ARMENAL was going to increase the foil production by 7% and for the first time exceed the level of 26 thousand tons for the year.