Construction-Sector Leader Aiming to Expand Locally and Globally

Shen Holding is currently engaged in mining, manufacturing and importing of construction materials, construction and interior fnishing works and organizes selling of goods via a big wholesale and retail chain throughout Armenia and Georgia. In the field from 1995, the company enjoys a well-established brand name and the trust of suppliers and consumers, growing market share and high growth potential.

Chairman Samvel H. Beglaryan explains, “The EBRD bought out our shares and financed our factory to produce concrete blocks in 2005. It is the biggest facility of its kind in the region. We re-acquired our shares in 2008. Now we also have our own mine which we exploit for raw materials for the construction sector, meeting the highest environmental standards. With this mine, we will be able to corner more of the Armenian market”. The company now has 500 employees, has expanded to Georgia and is planning to enter the UAE market.

Shen Holding prides itself on its steady growth, high standards and transparency. Samvel H. Beglaryan says, “The EBRD and BSTDB may be our major shareholders in the near future and we must meet international standards. In addition, we are rated by Fitch, which is a guarantee of transparency, and we adhere to our corporate governance code. We recently started issuing bonds for the second time in our history”. Shen Holding achieved €11.1 million in turnover in the current financial year and expects an increase next year.

Now Shen Holding is seeking long-term partners to help it meet its ambitious goals.

Samvel H. Beglaryan explains, “Local banks provide only short-term loans, so we are interested in a long-term financial partner who can respond to our general needs for growth and stability”.

Samvel H. Beglaryan welcomes contacts from international investors. Defining Shen Holding’s investment appeal, he says, “We are the largest and best-known company operating within our sector, and we adhere to the highest environmental standards to produce the most eco-friendly products. Whenever we conduct training sessions, we invite European companies, mainly from Germany”. Concerning Armenia as an investment tar- get, he adds, “Take a risk and invest in Armenia. You will definitely benefit if you do so”.