Armenian government approves draft resolution on merger of Special  Design Bureau of Institute of Radiophysics and Electronics with  HayPost CJSC

ArmInfo. On September 25, at its regular meeting, the Armenian government approved a draft resolution on the reorganization of the Special Design Bureau of the Institute of Radiophysics and Electronics CJSC by merging it with  HayPost CJSC.

As stated in the explanatory note to the document, in accordance with  the decree of the Government of the Republic of Armenia dated October  24, 2019, the authority to manage the shares (interests) of several  joint-stock companies owned by the Republic of Armenia, including the  Special Design Bureau of the Institute of Radiophysics and  Electronics Closed Joint-Stock Company, was transferred to the RA  Ministry of High-Tech Industry.

On December 24, 2020, the Special Design Bureau of the Institute of  Radiophysics and Electronics CJSC was reorganized by merging it with  the Yerevan Plant of Mathematical Machines CJSC. However, after the  decision was made, the reorganization process was not registered with  the state due to a number of obligations on the part of the Special  Design Bureau of the Institute of Radiophysics and Electronics CJSC.  The rights and obligations of the Special Design Bureau of the RFEI  CJSC were not transferred to the Yerevan Plant of Mathematical  Machines CJSC, nor were the company's operations terminated.

The Ministry of Technology believes that, given the goals and  objectives of the company's operations, the current merger will  improve the efficiency of the latter's resource utilization  (material, scientific, and labor).

The construction of a new postal sorting center is planned as a  result of the merger.  Following the merger, according to the  ministry's estimates, HayPost CJSC's postal revenues will steadily  grow by 39.3%, or 2.5 billion drams, and its gross profit (EBITDA)  will increase by 28.96%, or 1.5 billion drams, between 2025 and 2030.  Salary and utility costs will also be significantly reduced,  amounting to 304,799,306 drams in 2025-2030. The center's  construction will include the implementation of innovative automated  sorting systems, which will improve customer service and enhance the  quality of services provided.

"As a result, the construction of the center will not only enhance  the competitiveness of HayPost CJSC but will also make the Republic  of Armenia a more significant regional logistics hub," the  initiative's authors believe.