ANNOUNCEMENT

VIOHALCO announces the following:

VIOHALCO, a holding company with no production activity, merges by absorption by its Belgian subsidiary, Viohalco SA, which before the conclusion of the merger, shall be listed on the Brussels Euronext exchange.

The merger has the exclusive target of improving VIOHALCO's access to the international capital markets, for the benefit of the international competitiveness and long-term sustainability of its subsidiary companies.

Given the limited liquidity that encumbers the Greek economy and despite the support of the Group by the Greek banks, seeking additional sources of financing is a must for VIOHALCO, in order to continue unhindered investment by its subsidiary companies and meet at a competitive cost increased working capital requirements, in order to fully utilize the total of existing and forthcoming production capacity of the group.

It should be pointed out, that the Group implements a Euro 300 million, three-year investment programme, at its Greek subsidiaries, in order to increase their production capacity and manufacture, new, innovative, high value-added products.

The merger does not affect jobs at the Greek subsidiaries, in contrast, it offers the potential for more jobs, due to the new investments. 

Accessing additional sources of financing, is for VIOHALCO, a significant initiative, for the development of its subsidiary companies, through increased export activity, amidst a highly demanding and ever-changing international competitive environment.

Αthens, September 17, 2013