29 Oct 2012 14:45

Rusal Armenal foil exports up 7% in 9M

YEREVAN. Oct 29 (Interfax) - Armenia exported 19,113 tonnes of aluminum foil in the first nine months of 2012, 7% more than in the same period last year, the State Customs Service reported.

The customs value of exported foil, however, dropped to $59.2 million in the 9M from $63.6 million a year earlier.

Rusal Armenal, the country's only aluminum foil producer, told Interfax that the drop in value was due to a slump in world aluminum prices.

Rusal Armenal's biggest market is the United States, which accounts for 80% of the company's exports. Foil is also exported to Europe and the Middle East.