Pages

January 19, 2013

Filled Under:

Henkel Returns - Int'l Companies Moving Back To Greece


Moves by international companies are increasingly pointing to greater trust in the Greek economy, with Henkel, one of the world’s top detergent manufacturers, investing in Greece. Henkel has returned to Greece in the production of detergents. According to "Kathimerini" newspaper Rolco-Vianil, one of the country’s oldest enterprises in the sector, is now manufacturing products for Henkel, destined mostly to cover the needs of the local market. However the possibility of exports has not been ruled out.

Henkel’s new cooperation with a Greek firm holds particular significance for the local economy as it illustrates that despite previous problems in this country, the German company still believes it is worth investing here. Henkel had a plant in central Greece until 2000, after which it embarked on a cooperation with Alapis, owned by Lavrentis Lavrentiadis, who is now in custody on embezzlement charges. Henkel’s Dixan, Neomat and Persil brands are popular in Greece.

According to recent reports of China Daily, COSCO the country΄s largest State-owned shipping conglomerate, is considering acquiring a 60 percent stake in Greece΄s largest port, which is at Piraeus.

The amount of the deal could reach 1 billion euros ($1.33 billion), according to a Reuters report, which said that COSCO plans to present the investment proposal after Athens decides what procedures it will follow on the privatization of its two largest ports in Piraeus and Thessaloniki.

Greek Finance Minister Yannis Stournaras, during a speech on television on Monday, said the Chinese group had "shown an interest" in increasing its investment in Piraeus. He did not disclose further details, Reuters said.

COSCO declined to comment on the matter.

The company has already made a substantial investment in the Piraeus port. It spent 4.3 billion euros on a 35-year management lease for the No 2 and No 3 piers, which it has been operating since June 2010.

COSCO also announced investment plans to improve port facilities, build a new pier and almost triple the volume of cargo the port can handle. captial
The articles posted on HellasFrappe are for entertainment and education purposes only. The views expressed here are solely those of the contributing author and do not necessarily reflect the views of HellasFrappe. Our blog believes in free speech and does not warrant the content on this site. You use the information at your own risk.