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CYCLON, PERSPECTIVE OF THE ATHENS STOCK EXCHANGE
31th January 2001
On 23/11/00 the main shareholders of A.G. PETZETAKIS SA and CYCLON HELLAS SA signed the merger of the 2 companies by absorption of CYCLON from Macedonian Plastics with final balance sheet transformation date 31/12/00.
Concisely the merging process is the following: the value ratio per share of CYCLON and M.P. as was appraised by the Board of Directors of the two companies is 3:1, on the basis of relative appraisals and controls which were completed by independent chartered accountants.
After the completion of the merging process M.P will be renamed in CYCLON, and will reflect the main business activity which will include the production and sale of lubricants, and fuels selling as well as the activity in the plastics market.
After that, the branch of the new company (industrial and commercial) will split (M.P contribution) to an affiliate of A.G. PETZETAKIS SA. Afterwards CYCLON will sell to A.G. PETZETAKIS SA all the shares, which will be obtained, due to the branch contribution.
After the completion of the above-described agreement, CYCLON HELLAS SA will be exclusively active in the dynamically and fast growing petroleum market (lubricants and fuels).
CYCLON HELLAS SA was established in 1981 and is actively present and well known in the Greek and international petroleum market by the "CYCLON" commercial brand name.
LPC is pioneering industrial and commercial company since is the only company in Greece, which is simultaneously active in the production and selling of packaged lubricants as well as in fuels market.
Company's refinery unit is located in the Aspropyrgos and is among the 3 most modern and technologically advanced refineries worldwide, having the ability to produce heavy base oils (bright stock). Should be noticed that CYCLON is the only producer of such base oil in Greece. CYCLON HELLAS is certified with the international quality standard ISO 9002 for the production, handing and transportation of CYCLON ready products and base oils since June 1993.
CYCLON's ultimate goal is to achieve total customer satisfaction, using its fast and friendly sales network to offer the market premium quality products and services. CYCLON have always and will continue to place special emphasis on the protection and care of the environment, an area in which there can be no compromises.
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