Armenia has seen a notable decrease in aluminium foil production in the first 11 months of 2023. The production volumes dropped by 20.1% compared to the previous year, amounting to 23,777.7 tonnes. This decline follows a 3.5% decrease observed in 2022 during the same period.
In November 2023 alone, the production of aluminium foil in Armenia further decreased by 20.5%, reaching 1,825.4 tonnes. However, there was a significant increase in the production of aluminium plates, sheets, strips, and tapes, which grew 8.7 times annually, exceeding 1.3 thousand tonnes. Despite this annual growth, November 2023 saw a 41% decline in the production of these products, totaling only 51.7 tonnes.
The Armenal plant, a subsidiary of Russia’s Rusal, stands as the sole producer of aluminium foil in Armenia. Reports emerged in October 2023 from various telegram channels suggesting that Rusal, which includes the Armenal subsidiary, demanded a 30% staff reduction at the Armenian enterprise. This was reportedly followed by possible considerations to preserve the enterprise for sale purposes, with a deadline set until January 1, 2024. 
