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Attica Ventures invests in Doppler
9 May 2005
After long discussions and negotiations an agreement
was reached on participation in the share capital
of Doppler S.A. by Attica Ventures (member of the
Bank of Attica Group and manager of the ZAITECH FUND
– a venture capital fund participated in by the Bank
of Attica and the New Economy Development Fund (TANEO).
Doppler S.A. is a modern, innovative company established
in 2000 which is involved in industrial production
and trade of lift parts and full lift packages. In
its 4 years in existence it has become the No.2 company
in Greece achieving sales of € 9.5 million in 2004
(compared to € 6.8 million in 2003), EBITDA of € 1.95
million and EBT of € 1.03 million (up from € 0.68
million 2003).
It is worth noting that 40% of the company’s sales
are export-related and the target over the years to
come is to ensure that this figure surpasses 50%.
More specifically, at present company products are
exported to 10 countries, namely England, Denmark,
Ireland, Cyprus, Turkey, the Ukraine as well as all
Balkan countries and export deals are being developed
with Germany, Egypt, Kuwait and Poland.
Major agreements and long-term partnership deals
have been entered into with a range of companies in
the lift sector including multinationals in both Greece
and abroad. The next development target, particularly
for exports to key countries, is to establish subsidiaries
in those countries and to develop strategic alliances
in the form of joint ventures.
From the outset product research and design has been
a fundamental strategy for the company and explains
its high degree of competitiveness both in Greece
and internationally. This was ensured via in-depth
knowledge of the subject area by the company’s key
executives. Thanks to research, within a short time
the company was able to produce a complete range of
innovative products for all lift types.
As part of its strategic choice to develop and expand
through innovation and new products, the company was
included as part of the Ministry of Development’s
‘Competitiveness Measure 4.3’ (Industry, Energy and
Technology Development Programme) and prototype models
were designed and manufactured. These include a mechanical
lift without an engine room (the MRL Traction Lift)
which is cutting edge when it comes to modern lift
technology.
Attica Ventures' objectives in participating in Doppler,
as Attica Ventures’ CEO, Giannis Papadopoulos stressed,
“... is to make investments to double the company’s
production capacity by building facilities covering
4,300 m2 on the one hand, so as to promote full integration
of its innovative products into the production process,
and on the other hand, to further expand the company’s
export network either via subsidiaries or via strategic
alliances.”
Lastly, it is worth noting that company plans include
listing on regulated markets (the Athens Exchange,
and the Athens New Market (NEHA)) in the near future
with the aim of “...further bolstering development,
insisting on the same philosophy of top quality, productivity,
and effectiveness; principles on which the company
to date has been built," as was stressed by Doppler's
Managing Director, Mr. Stavros Stavropoulos.
FROM THE ATTICA VENTURES PRESS OFFICE
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