Sales of the Yerevan cognac factory dropped in the first 5 months of
the year by 26%, compared with the same period in 2009, the executive
director of the factory, Ara Grogoryan, said, News Armenia reports.
He emphasized that the factory had spent 1 million euros on
modernizing production. The factory will also change the appearance of
its products and reconsider the price policy.
The factory opened in 1887. The modern factory complex exists since
1953. In 1998 it joined the Pernod Ricard group, which purchased the
factory for $30 million.
