YEREVAN. – As per the Annual Report of the company, in 2011, the net profit of Avan Salt Factory increased by 29% to make AMD889,4 million (roughly $2.16 million).

Close to the end of 2011, the assets amounted to AMD3.46 million which is 29.5% higher than in 2010. To note, Avan Salt factory is one of two salt producing companies in Armenia and is the only major producer of food and technical salt in the country.

Compared with 2010, salt production in Armenia (the largest producer of South Caucasus) increased by 20.8% and made 35.6 thousand tons. Exports of salt to Georgia totaled to 5,623 tons to amount $ 506.8 thousand which is almost two times (93%) higher than in 2010.