«TS-Investment Corp» American company has acquired 75% of shares of «Shinnik-1» company that was Yerevan tire factory in the past for 750 mln drams ($1.3 mln). As «Arminfo» reports, the representatives of the Armenian government and the firm leadership signed the agreement on the transfer of the shares several days ago. According to the agreements, «TS-Investment Corp» undertakes to invest $8-10 mln in the development of the enterprise for 2-3 next years. Organization of radial tire production and recommencement of the production of bias tires for agricultural equipment are planned to be realized due to the means invested. The volume of production is not indicated. Some time ago it was reported that the American Company will acquire the radial tire production line with output of 2000 tires a day. The company intends to sell the production in the Armenian market and in the neighboring countries. It should be noted that the staff owns 25% of shares of the enterprise.
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