Columnists Josh Tenery Armena Refinery - Enjoying the ride

Armena Refinery - Enjoying the ride

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There's nothing quite like a really good roller coaster. Combine speed with hills and loops and hairpin turns, and you are in for a terrific ride. The same cannot be said when your company adopts the same characteristics. What is exciting and invigorating at an amusement park can be frightening and distressing when it occurs in the foundation of your business. And this has been the plight of Armena Refinery in recent months, as the prices of precious metals have fluctuated. Armena has contended with volatile markets as they continue to serve their customers.

Armena Refinery was founded by Jacob Chaimov. Jacob got his start as a diamond cutter. In time, he opened his own store, which he then grew into a manufacturing company. His company eventually became a refinery. Now a nation-wide business, Armena serves individual retailers, helping them profit from the jewelry they receive from customers.

When retailers purchase individual pieces or collect trade-ins from their customers, they package it and send it to Armena. Armena provides retailers with free, secure shipping of both the jewelry they submit for refining and their payment for the refined metal. Armena pays retailers the market price of the metal when it is received. There are no hidden fees or expenses and the retailer is not charged for the refining process. They simply receive quick turn around and settlement for the metal they submit. Armena finds its profit in selling the refined metal.

This of course begs the question of how Armena has dealt with the ups and downs of the market. Surprisingly, Armena says that they have weathered the storm well, suffering only inconvenience rather than a terrific loss of profit. The nature of the market has simply forced them to slow some of their operations as they either wait to lock the price they will pay a customer based on the customer's request to do so, or they wait for an up-turn in the market to sell the metal they have refined.

The best roller coasters are those that take you on the wildest ride while also keeping you safely strapped in your seat. Fortunately for Armena, they have found a way to safely enjoy the ride without losing their wallet along the way.

Armena Refinery can be reached at 212-768-1123 or found at www.armenausa.com.

 

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