Investing Program οf 16,5 Million Euros

An investing program of 16,5 million Euros is being realized by Kleemann group in the three year period of 2007-2009 aiming at becoming among the most advanced European manufacturing and trading companies of complete elevator systems.

The above were mentioned during the presentation of the company at SMEXA by the commercial manager and deputy general manager of Kleemann Nikos Koukountzos.

In relation to the financial figures of the group during the first semester of the year 2008 compared to the equivalent semester of the year 2007, Mr. Koukountzos mentioned that they are expected to be satisfactory in sales, profitability and efficiency.

According to Mr. Koukountzos the keystones of strategic development for the group are:

• In Greece, the strengthening of communication with the public, exploiting opportunities created by modernization and the replacement of components of the elevators in operation, and last, the promotion of complete lift systems.

• Abroad, the design of innovative products covering specific needs, further stabilization and development of commercial networks in developed countries having high standards and technical requirements and lastly establishing the position of the group through cooperation with manufacturers of the industry.

A factor contributing decisively to the course of Kleemann is the fact that the company is one of the largest companies of the industry at European and global level owning approximately 3% of the global market of installed units.

"The positive outlook of the management for the year 2008 comes from the positive course of the first semester of the financial year, further development of operations of the subsidiaries and their competitive position in the global market", Mr. Koukountzos mentioned.

It should be noted that the management of the company is expecting an increase in group sales of 8% (at 115 million Euros) whereas profit before tax is estimated that will amount at a high level coming from operating profitability.

An additional factor contributing decisively to the successful course of Kleemann, is high specialisation, long experience and new services offered such as the consulting renovation center and fully operational web support, and shortly the new testing tower created for high speed - high travel elevators.