Timelapse

h2

Timelapse

Since 1964 the companies of the group are active in the field of production and processing of cotton. The need for constant modernization led to the change of the legal form of the Company, which from 24.07.2002 bears the name “NAFPAKTOS TEXTILE INDUSTRY S.A.”. Over the last decade, in a dynamically growing course, our group is investing in new sectors of the economy.

The historical route of the company includes the following milestones – events:

2021 August:

Establishment of two (2) branches of the company in Messolonghi.
1) at the facilities of the Agricultural Cooperative of Messolonghi – Nafpaktos ( "the Union" ) at the location of Magoula - Neochori, of the Municipality of Messolonghi.
2) in a leased warehouse of the Agricultural Cooperative, at the location of Loggia - Evinochori, of the Municipality of Messolonghi.

2021 April:

Implementation of a new investment plan for the modernization and expansion of the production unit at the factory premises.

2020 March:

Measures to tackle the COVID-19 coronavirus pandemic.

2018 September:

Activation of the main Activity Code "production of cotton yarns” also in the Branch of the company in LYGIAS NAFPAKTOS PC 30300, as the productive activity of the company takes place there and K.A.D. 46411101 "Wholesale of cotton yarn" become a secondary Activity Code.

2015 January:

Change of the main Activity Code of the company (Κ.Α.D. 13.20.20.00 "weaving of cotton fabrics"), as weaving has become a secondary activity, while the main activity of the company is the production of cotton yarn (except for sewing ), an activity which corresponds to K.A.D. 13.10.61.

2013 November:

Reopening of the spinning mill in Nafpaktos.

2012 June:

Nafpaktos weaving mills operations were temporarily suspended.

2011 October:

The company decided to takeover the public limited company PINEIAS 2 ENERGY S.A., that is authorized to 1,3 MW solar park, by purchasing 100% of the shares.

2010 May:

The company dissolved its subsidiaries POLARIS S.A., SILVERSTAR S.H.P.K. and POLARIS ALBANIA S.H.R.L. (based in Korce, Albania ), as they were inert for the whole fiscal year of 2009 and their operations contributed less than 1% in the group’s total revenue.

2009 June:

The decision of the shareholders General Meeting of 26/06/2009 to acquire a minority stake of subsidiary POLARIS S.A. in order to control 100% of the subsidiary company and completely absorb it in the future was implemented.

2009 April:

The company decided to temporarily suspend yarn production as currently yarn’s production cost exceeds it’s selling price. Depending on the relative demand, yarn sales will continue normally from existing stocks. Spinning operation will resume when market condition allow it.

2008 September:

The machinery of the companies first spinning mill, built in 1988, was sold off.

2007 October:

The company acquired a minority stake of the subsidiary VIOPOL S.A. which remained dormant, and completed its absorption.

2003 January:

The founder and president of our company, George Polychronos, passed away suddenly on 02/01/2003.

2001 March:

Participation with 64.5% in the newly established company VIOPOL S.A.

2000 September:

Participation with 51% (10,2m drachma) in the company SOFADON GINNING MILLS S.A.

1999 June:

Share capital increase through public offering by 1.918.350.000 drachmas to strengthen working capital (944,5m) and participate in other companies (944,5m).

1996 July:

IPO on Athens Stock Exchange. Company’s further development by making major new production investment financed by own funds which were raised by ASE listing and grants from the government. The 3,000 million drachmas investment involved creating a modern yarn spinning mill to increase the annual yarn production from 1,850 to 3,700 tons.

1992:

Major investment in construction of modern air-conditioned building for second webber facilities, greatly improving the quality of the fabrics and increasing productivity of the equipment.

1989 January:

Merger of companies "NAFPAKTOS WEAVING G. POLYCHRONOS S.A." and " POLYCHRONOS S.A. - TEXTILE MANUFACTURING" creating today&

1988 October:

Completion of the investment and operation commencement of the first spinning mill of 10,000 spindles, with an annual production capacity of 1,850 tons of worsted cotton yarn.
Skip to content