Zhoghovurd: Grand Holding intends to set up tobacco plant in Germany

The German press reported earlier that an Armenian company planned to set up a tobacco processing plant in the town of Buchholz located 25 km from Hamburg. According to reports, the company paid 4.3 million euros to purchase 6 hectares with structures where tobacco production will be established for the European market.

According to ‘Zhoghovurd’ paper, the Armenian company mentioned in the German press is Grand Tobacco owned by the Vardanyan family. The paper does not rule out that the deal was closed through intermediaries to avoid attention.