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ANNOUNCEMENT OF THE ESTABLISHMENT OF THE COMPANY THRACE-S

17 MARCH 2010

   
 ANNOUNCEMENT

Sarantis Group announces the establishment of the company “THRACE-S S.A.” for the production of garbage bags. The newly founded company is a joint venture between THRACE PLASTICS S.A. and SARANTIS GROUP, each holding a participation of 50%. The company, based in Xanthi, launched its operations on March 15th and will undertake the production of garbage bags for household and professional use.

The invested capital of this project amounted to c. 1.2 million euros. Products will be distributed both in the domestic market and other European markets, using, among others, Sarantis Group brand name Sanitas.

Through this joint venture Sarantis Group will gain enhanced control and efficiency of the production process, that will result in more competitive production costs, as well as in the creation of new innovative products.
ANNOUNCEMENT OF THE ESTABLISHMENT OF THE COMPANY THRACE-S (133.0KB)

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