Over recent days the mass media communications have published information on the fact that the employees of “Armenian Copper Programme” (ACP) CJSC of “Vallex” group keep getting notices of dismissal. This appears to be misinformation, whereunder we report as follows:

  • Effective October 19, 2018 Alaverdi copper plant of “Armenian Copper Programme” CJSC (hereinafter referred to as “Company”) has suspended the activity of the metallurgical production unit for known reasons. Therewith, according to the procedure and terms set by the labor code of RA, the company served notices of termination of employment contracts to all the employees by virtue of the reduction of the number of employees and/or staff schedule. The notices have been served to the Company employees before the end of October 2018. According to the notices termination of employment relationships is planned after December 24, 2018 within 5 days.
  • During November-December 2018, including the moment of dissemination of information, the Company has not served any new notice on termination of employment agreements by virtue of reduction of number of employees and/or staff schedule.

Taking into account number of objective circumstances on the created situation, in compliance with the principles of fair collaboration and deep concern about the social issues of the Company employees, “Vallex” group informs the following:

  • taking into account that currently the Company management with the participation of the Government of the Republic of Armenia continues the deep and detailed study, which started 3 years ago, to provide the further continuity of copper alloy in Alaverdi, construct safe contemporary foundry of copper in terms of new and environmental protection in Armenia with Armenian-Chinese collaboration.
  • attaching great importance to the economic sustainability of Armenia and especially the social state of the population of Alaverdi city and the region, the vital value of retention of existing positions, as well as aiming at avoiding of creation of new social tension within the difficult winter months and at the New Year eve, a new instruction was given by the chairman of “Vallex” group companies on postponing termination of employment contracts with the Company employees for two months based on which the Company employees will be served with new notices on termination of the respective employment contracts dated February 28, 2019.

We hope that our collaboration with the RA Government shall continue in the atmosphere of common understanding and construction in favor of Alaverdi and Lori dwellers and the Republic of Armenia.

Mass media and PR department of “Vallex” group companies