The BoD
of the company on its session on 6.2.2003, following a proposal of
the President Mr E. Christodoulou, elected Mr G. Petzetakis (CEO of
the company since November 2002) as the President of the BoD of the
company. Also it elected as a Member of the BoD Mr P. Tzanetakis, Member
of the BoD & CFO of the company Motor Oil Hellas S.A. The new BoD
expects that the total sales will exceed the amount of euro 200 million
in 2003 whereas the operating profitability will be improved. The sales
during 2002 amounted to euro 178 million, i.e. +22% compared to 2001.
This increase was achieved despite the decline of the sales of the
parent company and the non consolidation of the sales of the company
Vechro which was sold in the end of 2002 and is attributed in the significant
contribution of the international activities of the Group in Europe
and S. Africa since in 2002 they represent the 68% of the consolidated
turnover.
02/10/2003 -
