AKRITAS SA in accordance with article 188.8.131.52 of the ASE Regulation. (01/01/2016 to 30/09/2016), the shares will continue to trade in the ASE Surveillance Category
AKRITAS wood processing industry with dominant presence in the Greek market ,is prepared to meet the prospects of construction revival activity and thus to increasing demand for artificial wood products.
A significant increase was recorded in the first quarter of 2016, in the production and sales of AKRITAS wood industry, a growth increase which, as the progressiveness of the data shows, is not temporary but creates tension for the Company, which has been strengthened with working capital totaling 6.5 million euros from the four systemic banks.
“AKRITAS” is the industry of the wood sector that resisted the dramatic reduction in demand for five consecutive years that all the industrial firms without exception experienced in the field.
Banks have adopted in their entirety the request made by Akritas SA for the restructuring of long-term debt with the amount of 20.8 million euros in depth over a period of 10 years , with two years grace and boosting with new floating capital of 5.5 million. The company’s management has worked out a detailed and documented business plan, in collaboration with Deloitte, which it submitted to the lending bank to support its claims.
The first half-year period of 2008 concluded profitable for AKRITAS not only for the parent company but also in unified base. The basic financial figures of AKRITAS company are presented regularly, resisting in the pressure of recession not only concerning the more general economy but also in the sector of timber industry in the Greek and European market.