Hrashk Group LLC – Furniture Production / Inecobank and ACBA leasing

Hrashk Group LLC is a modern Armenian furniture manufacturer that has rapidly evolved into a leading player in the country’s home furniture, mattress, and bedding market. Established in 2018, the company is known for combining high-quality craftsmanship with modern production technologies and a forward-looking approach to sustainability and efficiency. The company operates under the brand names Haybed and Shkaff, which are now widely recognized in the local market.

In recent years, Hrashk Group has undertaken a series of strategic investments under the EU4Business-EBRD Credit Line to support its expansion and improve operational performance. These investments have played a key role in helping the company grow and transition into a scalable industrial operation.

Clean Energy and Sustainable Growth

As part of its commitment to sustainability, Hrashk Group has installed two rooftop solar photovoltaic systems at its production facilities with capacities of 99 kW and 167.2 kW. These investments, implemented with the support of the EU4Business-EBRD Credit Line, have significantly reduced the company’s electricity costs and contributed to a lower environmental footprint. The solar systems are aligned with EU Directive 2018/2001 on the promotion of the use of energy from renewable sources and reflect the company’s shift toward more sustainable operations. The company also received EU-funded investment grants as part of the programme, which helped reduce the upfront cost of implementation.

Production Efficiency Through Advanced Equipment

In addition to its renewable energy investments, Hrashk Group has modernized its production line by acquiring highly energy-efficient equipment, including calibrating sanding machines, edging machines, trimming equipment, etc. These upgrades have improved productivity, reduced material waste, and enhanced overall quality. All equipment complies with key EU Directives, including the Machinery Directive (2006/42/EC), Low Voltage Directive (2014/35/EU), Electromagnetic Compatibility Directive (2014/30/EU), and the Ecodesign Directive (2009/125/EC). These

investments also benefited from EU grant support, provided upon successful verification, as a direct incentive for aligning with EU standards.

Scaling with Structure

The EU4Business-EBRD Credit Line has supported Hrashk Group across multiple investment cycles, enabling the company to implement new technologies, streamline production, and build internal management systems. These steps have laid the groundwork for long-term scalability and competitiveness in both domestic and export markets.