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ELLINIKI TECHNODOMIKI S.A. was the first construction company in Greece to foresee the consolidation coming in the domestic construction market. With the acquisition of the ASE listed construction companies Technical Company of Volos - TEB (fall of 1998) and AKTOR (within 1999), formed the largest construction group in Greece, competitive to all the corresponding foreign groups in know how and effectiveness. The ELLINIKI TECHNODOMIKI-TEB-AKTOR Group employs a skilful and specialized personnel with experience and know how in infrastructure, foundation, port, plumbing, bridge, electro-mechanical/industrial, building and road construction projects. The size of the Group allows the establishment of control and risk management mechanisms. The recruitment of skilful and specialized personnel per sector reduces the probabilities of wrong choices in the construction and business activity, and the improvement of the cost control and problem identification mechanisms contribute to the in time and drastic development of problem's solutions. Having in consideration the growth of the Greek Economy and the trends in the European construction sector, ELLINIKI TECHNODOMIKI Group has set a number of long-term goals. However, in order to ensure its future after the end of the EU Second Support Framework (1993 -1999) and the Santer Package (2000 -2006), the Group is expanding in sectors other than construction, and in services which will further increase its consolidated financial results. One of these sectors is real estate development. The Group's policy is to buy real estate in areas that have or are expected to have high commercial value. For this reason the Group participates in MESOGAIA HOLDING S.A., (which from August 23, 2000 held a 49.88% of A. CAMBAS S.A.), which owns two pieces of real estate, larger than 100 acres each, close to the new Athens airport and the Athens Ring Road. In order to strengthen its presence in this sector, in August 2000, the group entered into a strategic alliance agreement with NATIONAL BANK OF GREECE according to which NBG will acquire 5% of the share capital of Elliniki Technodomiki and Elliniki Technodomiki, will acquire 5% of the share capital of NBG Real Estate Development Co. Also in November 2000, the General Assembly of Shareholders of TEB approved the merger with MESOGEA S.A. This merger creates new prospects for TEB and at the same time accomplishes one of the main goals that have been set by the management of the ELLINIKI TECHNODOMIKI-AKTOR-TEB Group: the establishment of a strong company that will be active in the Real Estate Development. Another sector, which is very important for the increasing of the group's income, is the investment in Build Operate Transfer (BOT) projects. The Group with considerable know how in this sector, is already participating with a 13.6% stake in the Athens Ring Road and a 15.4% stake in the Rio-Antirio bridge projects and plans to also participate in the future in all BOT projects. The third sector of business activity for the Group is services. The first priority of the Group is the energy sector, since the energy market will be deregulated in 2001. In order to enter the energy production market, the Group has already established a joint venture with INTRACOM. The Group also plans to participate in the gas distribution networks. ELLINIKI TECHNODOMIKI Group is also very much interested to expand its activities in the Balkans. The Group has been active in Moldova since 1995, participating in the design, construction and operation of port terminal facilities and liquid fuel storage tanks in Giurgiulesti in the Danube River. Moreover it is searching for opportunities in Central Europe, which is regarded as a promising region for development with low risk. The ELLINIKI TECHNODOMIKI Group consists of the following companies: ELLINIKI TECHNODOMIKI S.A. was established in 1955 and today is the largest construction company in Greece. On April 1994, the company was listed in the Athens Stock Exchange. Since its establishment ELLINIKI TECHNODOMIKI was focused in the construction of private building projects, which required high quality, high tech engineering and quick completion. After 1980, the company expanded its activities in Public Sector's projects and undertook its first large scale works using the "study-construction" system. The policy of company was to fully cover all types of bided projects of the Public Sector according to the standards of the large international construction companies. Indicative of the success of this policy was the penetration of the company in the sector of large road construction projects. The first large road construction project that the company undertook on its own was the road bypassing of Kavala. ELLINIKI TECHNODOMIKI holds an 8th degree certificate for the undertaking of building, plumbing, industrial, energy, as well as road construction projects. TEB (TECHNICAL COMPANY OF VOLOS S.A.) established in 1949, is one of the oldest and largest construction companies in Greece. As of fall of 1998, TEB is part of the Elliniki Technodomiki Group of companies, after the acquisition of 50.01% of its shares from the later. TEB holds an 8th grade contractors degree for the execution of public works, which enables the company to bid alone for public projects with a budget reaching up to 20 billion GrD. Since 1959, the company's activities were focused in the construction of projects in the Thessalia area. In the period between 1959-1976 the company rapidly expanded its activities in the construction of large infrastructure projects all over Greece. Within the following ten years the company noted a dynamic growth and become active in road and bridge constructions as well as in land improvements. Since 1985, the company made a number of strategic alliances with foreign companies (within the framework of establishing Groups) and undertook large infrastructure projects, establishing itself as the pioneer company in the high-tech construction projects (dams, tunnels, cabled bridges and etc.). TEB is also recognized for its high quality in the construction of private and public projects. In 1994 the company was listed in the Athens Stock Exchange and in 1996 it began to undertake BOT projects. The company mainly specializes in large public projects such as dams, tunnels and bridges. Lately, however, it expanded its activities in the construction of private projects, such as the construction of the Information Technology Institution building, the completion of the second phase of the Athens Music Hall and the construction of a multi-floor offices building for DIANA SHIPPING AGENCIES S.A. AKTOR S.A. was established in 1977 and since then it has evolved into one of the largest companies in the construction sector by undertaking and completing a large number of projects. The company also participates in large in-process infrastructure projects. In 1993, the company was listed on the Main Market of the Athens Stock Exchange. From its establishment until 1985 AKTOR was mainly active in the Plumbing Projects sector. Some of the most important projects that were constructed during that period were the irrigating system of Giannitsa and the central waste collector of Athens. In the period between 1985 and 1994 the company completed projects, such as the OAKA Olympic Stadium projects and the unequal level bridge in the Neo Faliro junction, according to the Study & Construction method. From 1994 until today the company undertook road development projects in Greece and it has assumed a leading role in the construction sector by undertaking significant Public Construction projects such as contracts for the construction of parts of the Egnatia Odos and the Patra-Athens-Thessalonica-Euzoni highway, the Kavala road bypassing, as well as the CARS building in Larisa, the Astakos Port and etc. CAMBAS S.A., the company's business activities begun in 1863. Within the following years the company bought large rural areas in Northern East Attica for wine-making purposes and in 1920 was listed in the Athens Stock Exchange. In May 1997, 67% of the company's share capital was acquired by MESOGEA S.A. and since August, 23, 2000 MESOGAIA holds only 49.88% of its share capital. From 1995, parallel to the repayment of the company's debts, the wine making and commercial activity of the company gradually diminished and in 1999 the company presented only a small turnover coming from its wine-making activity. Today CAMBAS S.A. focuses its activity in the development of its real estate (the KANTZAS and GIALOUS REAL ESTATE) and in order to dynamically penetrate this sector it uses consultants from Greece and abroad. Indicatively, some of the large projects in which the ELLINIKI TECHNODOMIKI Group participates and are under construction are the following:
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