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Suffering Setbacks in Armenia, Sukiasyan Family Business Soars in Europe

While the Sukiasyan family business empire has recently suffered setbacks in Armenia, it appears that outside of Armenia, the commercial fortunes of brothers Khachatur and Saribek are taking off. During the period of March 1, 2009 to March 1, 2010, "Media Consult", a firm owned by the family recorded gross sales of 51.2 million Euros. The company, which specializes in internet commerce, security technology and digital publishing systems, has already signed 180 million Euros of commercial contracts with its partners and customers. "Media Consult" also plans to expand operations in Armenia. By the end of the year, the firm intends to install its first global project here and estimates the creation of at least 130 new jobs for IT specialists. This new Armenia-based operation will help improve existing computer systems for banks and corporations and create new ones and provide security measures for them. A similar branch operation will be set up in Germany as well.

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