Glasswork highly values cooperation with EBRD

17.05.2024 | 16:31 Home / News /
#ASEDL #Glasswork #EBRD
On May 15, within the framework of the European Bank for Reconstruction and Development’s (EBRD) 2024 Annual Meeting and Business Forum held in Yerevan, the EBRD delegation visited ASEDL company’s Glasswork plant. The plant produces translucent constructions and processes architectural glass.

The company noted that the delegation of 40 people toured the factory premises and familiarized themselves with the new production capacities. The guests were shown the state-of-the-art equipment acquired through projects financed by EBRD, as well as the results achieved from the consulting services provided.

The history of Glasswork begins from 2010. The company specializes in the production of glazing systems of any complexity and provides the entire production chain of glass processing, up to installation service.



In 2019, to meet the rising market demand and modern technical requirements in the glazing industry, the company’s Board of Founders elaborated a new strategy which envisaged a total modernization of the production process, including the upgrading of all production buildings and equipment, engagement of new production and managerial staff and adoption of the new approach in management.

The strategy implementation was started with the settlement of the new production area in the end of 2019: the old buildings were totally demolished and new ones were constructed. In line with its strategy of energy efficiency and saving, all production buildings have been equipped with solar power plants.



The second stage of the modernization was in 2021-2022, when the glass processing line was acquired and installed. EBRD’s support in this period was through SME Competitiveness Program credit line.

The following equipment has been acquired:

-    Glass insulation line
-    Automated glass cutting line
-    Roller coating machine for glass
-    Double edger line

As a result of equipment modernization, the company recorded 5 to 8 fold productivity improvement, introduced new technological processes, ensuring higher safety for the staff.



During the third stage of the modernization in 2022-2024 EBRD’s support was through the International Consulting project. The program comprised design and implementation of 5S and Production lean management, Design and installation of aluminum frames production line.

“Now we can witness that EBRD’s support was timely and sufficient for both ramping up the production and redesigning of planning and management functions.



Logical continuation of our mutual commitment towards permanent development is the Blue Ribbon membership from November 2023.

We highly appreciate EBRD’s consultation and involvement at this stage of the company’s development. Aware of the challenges of the business environment, the bank has provided full support to our development plans,” the company noted.
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