1999
PRINTING-INDUSTRIAL BUSINESS SECTOR
In the course of 1999, and in accordance with
the restructuring plan of the Lambrakis Press
Group's activities, the spin-off of the parent
company's printing business is completed with
its subsequent transfer to the 100% subsidiary,
printing firm IRIS S.A.
IRIS now spearheads the Group's industrial
printing companies and is responsible for
the implementation of an important investment
plan, to enhance their vertical integration,
oversee the printing facilities' modernization
and supervise the expansion of the business'
activities into the European market.
At the same time, following a series of strategic
collaborations, the Group's presence in the
local industrial printing market was strengthened.
PRINTING BUSINESS SECTOR'S SPIN-OFF -IRIS
S.A.
| December |
Completion of the spin-off
process of Lambrakis Press' printing
business and transfer to the 100% subsidiary
IRIS S.A. as of 30.06.1999. |
| |
New investment plan.
Following the absorption of the parent
company's printing business, IRIS took
on the responsibility of carrying out
the important investment plan initiated
by Lambrakis Press at the beginning
of 1999. The plan's first stage concerns
the construction of a new, 40,000m²
industrial plant for the vertical production
of magazines. Located at Inofita Viotias,
its total preliminary budget exceeds
GRD 10 billion. The new complex is scheduled
to be finished in December 2000, while
equipment worth GRD 2,500 million has
already been ordered. The funds needed
to complete the investment plan will
be raised through the company's flotation
on the ASE. |
ESTABLISHMENT OF NEW FIRMS AND PARTICIPATION
IN EXISTING INDUSTRIAL PRINTING COMPANIES
| June |
PAPER PACK S.A.: Lambrakis
Press S.A. acquired a 30% stake in the
company, active in the fields of printing
and the production of cardboard boxes
and light paper packaging. |
| December |
A.G. PAPER S.A.: Subsidiary IRIS
S.A. acquired 50% of the firm's share
capital. The company imports handles
and distributes all types and qualities
of printing paper. |
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