Further to our announcement dated March 24, 2003 and pursuant to Appendix F, paragraph 16, Regulation 81(1) of the CSE Regulations, we wish to inform you of the following:
1) The Company anticipates to begine operations in June 2003. The estimated sales for the year 2003 will reach 2,000,000 Euro and the profit after taxation is expected to reach about 200,000 Euro.
2) The factory is of high replacement value and the Company has ended up with the acquisition price following negotiations with Alpha Bank. The Company has not been involved in the evaluation. For your interest, the value of land according to ETVA (Greek Industrial Development Bank) of the Piraeus Bank has been estimated at 600,000 Euro.
1) The Company anticipates to begine operations in June 2003. The estimated sales for the year 2003 will reach 2,000,000 Euro and the profit after taxation is expected to reach about 200,000 Euro.
2) The factory is of high replacement value and the Company has ended up with the acquisition price following negotiations with Alpha Bank. The Company has not been involved in the evaluation. For your interest, the value of land according to ETVA (Greek Industrial Development Bank) of the Piraeus Bank has been estimated at 600,000 Euro.
Monday, 31 March, 2003 - 10:04