In accordance to article 10 of L. 3340/2005 and the article 2 of the Decision of the Hellenic Capital Market Commission No 3/347/12.07.2005, the company announces the following press release:
S.D. CONSTANTINOU & SON S.A.-YALCO has signed an agreement with IONIA SA for the exclusive distribution, of IONIA professional line of porcelain products (hotels-restaurants) in Greece and abroad.
According to the agreement, after February 9th 2009, IONIA high quality and taste porcelain products, well known in the Greek market since decades, will be distributed through YALCO distribution network, in order to increase even more, both their market shares and positions in Greece and abroad.
It is estimated that the addition of IONIA professional line of porcelain products, will contribute a significant increase to YALCO professional line products total turnover, by approximately 30%, while further synergies are expected, through the areas of exports and the exploitation of YALCO subsidiaries network in Romania and Hungary.
Mr Socrates Constantinou, CEO of YALCO, referring to the agreement, pointed out that: "a brilliant path of collaboration between traditional Houses of commerce and industry has been open, targeting to further enhance their position in Greece and abroad. This agreement will create strong synergies for both sides, which is anticipated to be reflected also on their financial results"