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Pikermi, July 6th 2017

ELBISCO responds to the crisis with openness and investments in Greece

The company is proceeding to an investment of 20 million euro at its production plant in Chalkida

In June, ELBISCO embarked on an investment of 20 million euro for the development of a new production line for rusks at its production plant in Chalkida. The new production line, which is to come into operation early in 2018, shall increase the company’s production capacity by 40% and create new prospects to boost its exports to the European market.

This investment is part of ELBISCO’s three-year investment plan of 30 million euro, which pertains to upgrading current and developing new production units at the company’s plants in Pikermi (Attica) and Chalkida.

ELBISCO’s investments are in line with the company’s strategy, which aims at preserving and increasing the share of its brands in the domestic market and expanding its presence in foreign markets.

ELBISCO is already exporting its products to more than 20 countries, thus supporting the trade balance of Greece, and the company’s operation greatly contributes to employment, public revenue and the growth of local economies. In 2016, the company paid over 23 million euro in wages and social insurance contributions and over 6 million euro in taxes and duties. The total cost of purchases topped 63 million euro, with 92% coming from Greek suppliers; ELBISCO thus supports a great number of local companies. Through its Corporate Social Responsibility programmes, last year ELBISCO offered 141,000 euro in sponsorships and donations of company products to charitable causes.

As Mr. Demosthenes Ramantanis, ELBISCO’s Managing Director, pointed out, “For ELBISCO, the financial crisis has provided an additional incentive for improvement and development at all levels. We will continue to look ahead and plan the future of our company, invariably trusting and supporting the Greek economy. By investing in innovation, openness and the international competitiveness of our products, we seek to ensure ELBISCO’s long-term growth and profitability and, at the same time, create added value for consumers, our employees and partners, and the national economy”.  

Table: ELBISCO’s economic contribution in 2016

data table economic contributions