ELASTRON S.A.
PRESS RELEASE
"Α. KALPINIS - Ν. SIMOS" IN A JOINT VENTURE AGREEMENT WITH "HELLENIC HALYVOYRGIA" AND "TRIGONIS BROS" TO PENETRATE THE ROMANIAN MARKET
"A.KALPINIS - N.SIMOS SA" signed a joint venture agreement with "HELLENIC HALYVOYRGIA" and "TRIGONIS BROS" groups of companies in order to cooperate in the filed of processing and distributing steel products in Romania.
In more detail, "HELLENIC HALYVOYRGIA SA" and "TRIGONIS BROS SA - Iron Steel", via their 100% subsidiaries, entered an agreement whereby they will acquire a stake at the share capital of Romanian based "SC ΚALPINIS SIMOS ROM SRL", a 100% subsidiary of "A.KALPINIS - N.SIMOS SA". The company will be renamed to "BALKAN IRON GROUP S.R.L." (distinctive title "B.I.G. S.R.L."), and each shareholder will own a 1/3 stake at the Company. The overall investment plan is expected to reach a total capex of approximately euro 12 million.
With this joint agreement, "A.KALPINIS - N.SIMOS SA", "HELLENIC HALYVOYRGIA SA" and "TRIGONIS BROS SA - Iron Steel" groups of Companies, are joining forces, are combining their know-how, experience and corporate ability in order to create new prospects over the next few years in the rapidly growing Romanian and the broader Balkan market. To this end, "BALKAN IRON GROUP S.R.L." will commence its operations after establishing commercial and industrial facilities with its main activity the processing and distribution of steel products.
"Hellenic Halyvourgia" is today the second largest private non-listed steel industry in Greece based on annual turnover figures (euro 350 million in 2006) and is amongst the top 20 manufacturers in Greece. A vertically integrated manufacturing group with over 1,000,000 tons in capacity and over a century of solid experience, Hellenic Halyvourgia owns a significant market share in the Greek market and provided the steel reinforcing bars that has been used in various historic value projects such as the historic Roupel fortress (built in Macedonia using Helleniki Halyvourgia's reinforcing bars) the first ever apartment buildings in Greece, the Rio-Antirrio bridge, several of the Olympic constructions, the Spata airport, the Attica metro, the Egnatia national highway etc.
"TRIGONIS BROS SA Iron-Steel" Group of Companies, through its 30 years of successful presence in the Sector of Iron-Steel trading and processing, holds today a leading position in this sector in Greece. Using its substantial experience, the group possesses the organizational, equipment, technical know-how and staffing ability required for the processing and shaping of steel products and steel reinforcing bars, and currently operates an integrated Steel Service Center.
It is noted that the aforementioned joint venture agreement is pending upon the necessary approval of the local authorities.
Note: More information about "A.KALPINIS- N.SIMOS S.A." is available at the company's website: www.kalpinis-simos.gr
"A.KALPINIS - N.SIMOS SA" signed a joint venture agreement with "HELLENIC HALYVOYRGIA" and "TRIGONIS BROS" groups of companies in order to cooperate in the filed of processing and distributing steel products in Romania.
In more detail, "HELLENIC HALYVOYRGIA SA" and "TRIGONIS BROS SA - Iron Steel", via their 100% subsidiaries, entered an agreement whereby they will acquire a stake at the share capital of Romanian based "SC ΚALPINIS SIMOS ROM SRL", a 100% subsidiary of "A.KALPINIS - N.SIMOS SA". The company will be renamed to "BALKAN IRON GROUP S.R.L." (distinctive title "B.I.G. S.R.L."), and each shareholder will own a 1/3 stake at the Company. The overall investment plan is expected to reach a total capex of approximately euro 12 million.
With this joint agreement, "A.KALPINIS - N.SIMOS SA", "HELLENIC HALYVOYRGIA SA" and "TRIGONIS BROS SA - Iron Steel" groups of Companies, are joining forces, are combining their know-how, experience and corporate ability in order to create new prospects over the next few years in the rapidly growing Romanian and the broader Balkan market. To this end, "BALKAN IRON GROUP S.R.L." will commence its operations after establishing commercial and industrial facilities with its main activity the processing and distribution of steel products.
"Hellenic Halyvourgia" is today the second largest private non-listed steel industry in Greece based on annual turnover figures (euro 350 million in 2006) and is amongst the top 20 manufacturers in Greece. A vertically integrated manufacturing group with over 1,000,000 tons in capacity and over a century of solid experience, Hellenic Halyvourgia owns a significant market share in the Greek market and provided the steel reinforcing bars that has been used in various historic value projects such as the historic Roupel fortress (built in Macedonia using Helleniki Halyvourgia's reinforcing bars) the first ever apartment buildings in Greece, the Rio-Antirrio bridge, several of the Olympic constructions, the Spata airport, the Attica metro, the Egnatia national highway etc.
"TRIGONIS BROS SA Iron-Steel" Group of Companies, through its 30 years of successful presence in the Sector of Iron-Steel trading and processing, holds today a leading position in this sector in Greece. Using its substantial experience, the group possesses the organizational, equipment, technical know-how and staffing ability required for the processing and shaping of steel products and steel reinforcing bars, and currently operates an integrated Steel Service Center.
It is noted that the aforementioned joint venture agreement is pending upon the necessary approval of the local authorities.
Note: More information about "A.KALPINIS- N.SIMOS S.A." is available at the company's website: www.kalpinis-simos.gr