History

history

M.J. Maillis Group, founded in 1968, has evolved from a privately-owned steel strapping producer into a multinational industrial corporation through its corporate strategies of superior value, vertically-integrated production, organic growth and acquisitive expansion.

Founding

1968-1997

  • M.J. Maillis was established as a LLC and changed into a Societe Anonyme, as producer of steel strapping (1968)
  • Shares listed in the Parallel Market of the ASE and the first two subsidiaries are established in same year (1994)
  • First subsidiary established in Greece (1995)
  • Shares reclassified from Parallel to Main Market of the ASE (1996)
  • New subsidiary established in Poland (1997)
  • Completed investment plan two years earlier than originally scheduled (1997)
  • Turnover grew from a few hundred thousand to 40 million by the end of this phase

 

Initial Growth

1998-2003

  • Strategic expansion through series of mergers, acquisitions and joint ventures in the following countries:
    Czech Republic, Spain, Albania, England, France, United States, Hungary, Italy, Austria, Germany, Sweden, Canada, Belgium, Netherlands and Serbia.
  • Considerable investment efforts to modernize operations across Europe
  • New shares issued through subsidiary M.J. Maillis Romania S.A. (2001)
  • Completion of new integrated information system ‘SAP’ (2001)
  • Ranked fastest growing company in Greece and 19th overall in Europe (2003)
  • Brought staff numbers up from 164 to 1,976 people within five years
  • The Group reached the 300 million mark in turnover

Expansion

2004-2007

  • Achieved goal for consolidated sales organic growth of 15% and improvement in cash flow (2004)
  • Solidified organizational structure and reorganized sales groups (2004)
  • Announced purchase of building facilities in South Carolina and plan for further growth and penetration in North American market (2004)
  • Additional European expansion and successful first phase of North American investment (2005)
  • Refinanced existing long term debt with successful US private bond placement (2005)
  • Joint venture in India (2006)
  • Restructuring actions to reduce cost and improve profitability (2007)
  • Turnover hit historical records of 370 million+ during 2005-2008

Reorganization

2008-2011

  • Restructuring and recovery plan laid out
  • Restore profitability above industry norms
  • Strengthen management team
  • Maintain good corporate citizenship
  • Negotiation with key lenders for restructuring of existing debt
  • Continued debt and operational restructuring
  • Current challenges
  • Debt reduction
  • Non-core disposals
  • Operational restructuring
  • Production rationalization
  • Developed a value added platform for blue chip multinationals
  • As a result of the economic crisis turnover stood at 260-280 million level

Future Growth

2012+

  • Competitive positioning
  • Fine tune and capitalize on European model
  • Emerging markets expansion
  • Improved financial performance
  • Invest in service, retrofit and refurbishment
  • Revamp and invest in retail model to increase sales