HELLENIC CEMENT INDUSTRY - THE EVOLUTION

	1902	Establishment of TITAN CEMENT COMPANY SA
	1911	Establishment of HERACLES GENERAL CEMENT COMPANY SA
	1926	Establishment of HALKIS CEMENT COMPANY SA
	1934	Establishment of S.KOTSIRAS & Co. LTD
	1943	Re-establishment of S.KOTSIRAS & Co. LTD, with the new name HALYPS CEMENT COMPANY S.A.
	2001	Merging of HERACLES GENERAL CEMENT COMPANY SA and HALKIS CEMENT COMPANY SA

The foundation and production starting point of Greek cement companies was a result of the ever-increasing demand for cement in Greece. Then followed the first exports, which took place prior to the Second World War.

In the post war period and until 1983, the development rates of the cement industry were rapid following the development and reconstruction needs of Greece, but also the increasing demand of foreign markets in nearby areas (Persian Gulf, Red Sea, North and West Africa countries) mainly after the first oil crisis in 1973. The creation of resources in the oil producing countries led in the first stage to the covering of their cement needs, due to development, with cement imports mainly coming from Greece and later on to the creation of their own cement companies. This last event along with the economic problems of developed countries due to the two oil crisis, led the international selling prices of cement to a significant drop (1986 prices up to 50% lower compared to 1979). Thus, the Greek cement industry based on:

- the high level of technology and know-how which possesses
- the excellent product quality and on the customers support which highly qualified members of its staff provide
- quality control and consequently reduction of cost

turned its exporting activity towards new developed markets (USA, West Europe countries) but also to other countries in Africa and Asia, therefore remaining one of the most powerful exporting countries.

The development of the Greek cement industry as it relates to domestic demand and to exports, is illustrated in the following diagram.