Restructuring of Ararat cement-slate plant was performed by order №-1217 of the Government of the USSR.

In 1989, it was built and commissioned Ararat Cement Factory (new technological line - 1.2 million tons of cement annually).

In 1995, by order №-127 of the Ministry of Industry Ararat cement-slate plant was renamed as Ararat Cement Factory, in 1998 it was renamed as State Closed-Joint Stock Company "Araratcement". In 2001, by order №-177 of the Ministry of Industry and Trade of Republic of Armenia it was reorganized to Open Joint Stock Company "Araratcement".

In 2002 the plant was privatized by the Concern "Multi Group" and reorganized to Closed Joint-Stock Company "Araratcement".

The main objective of the cement factory "Araratcement" after the privatization was to increase the productivity of rotary kiln up to the capacity according to the project, and increase the range of products.

For this purpose was developed and carried out a number of activities in the areas of precise dosing and homogenization of raw materials and the use of high-quality and uniform raw material. Important environmental issues have been resolved.

CJSC "Araratcement" is currently working on the basis of local raw materials consumption and does not need to import raw materials from other countries. As additives it is been used quartzite, as they are rich of amorphous silica, which content is 40%. They do not contain any other compounds and the percentage of silica content is 97%. According to the data of Project Institute these reserves are designed for 200 years.