Hraparak: Bankrupt Armenian cement plant amid salary scandal
Mika Cement, the Hrazdan-based cement plant which declared itself bankrupt in 2012, turns out to owe five months’ salary to its staff.
Citing its sources close to the company, the paper says that about two days ago, only workers received their April salary from VTB Bank. The paper claims that the salaries began to be regularly paid after the plant’s workforce went on a strike in Hrazdan earlier this summer. Aditionally, about 300-400 employees are claimed to be in a state of idleness. Citing further its sources, the paper adds that the long-awaited unpaid salaries caused four of the employees to suffer stroke, of whom two later died, unable to find means for treatment. The deaths lie upon the conscience of the plant’s former owner, Mikhail Baghdasarov, says the paper, adding that the employees are still in the dark as to why they get their salaries from a Russian bank.
The paper claims further that the company deliberately keeps the staff in ignorance, having disconnected all the telephones, apart from the one at the Human Resources Department. Besides, the plant’s board of directors has been re-organized, adds the paper. “I am no longer the general director. I am a deputy CEO,” Naira Martirosyan, a former chief of the plant, told the paper, adding that Artur Muradov is their current CEO.
The paper adds that the strangely secret behavior adopted by Mika Cement and VTB Bank gives way to different rumors in Hrazdan. Some reportedly say that the plant came under Russian ownership after it went bankrupt two years ago. The Russian bank is said to have acquired Mika Cement in return for an unredeemed $20 million worth pledge. Though the media earlier claimed that the company was later sold to Armenian businessmen in Russia, the paper says that the reports have been neither confirmed nor denied by the bank. Citing its own sources, it claims, however, that the new owners have direct connections with VTB Bamk. After studying the situation in the plant, they reportedly declared that they are not able to pay off the salary debts. Speaking to the paper, sources at the bank admitted that the pay the salaries of Mika Cement, but they reportedly declined to respond to further questions, demanding a written request.
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