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News Article

SUMEC expands into Greece

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Phono Solar's parent company, the SUMEC Group has announced a strategic cooperation agreement with Greek investment services company, Attica Finance S.A, subsidiary of Attica Bank. The agreement was signed in Athens on June 26th 2013, by the President of SUMEC, Mr. Cai Jibo and the CEO of Attica Finance, Mr. Alexandros Poularikas. Also in attendance was the Chinese Ambassador in Greece, Mr. Du Qiwen, the Mayor of Athens, Mr George Kaminis and a host of political and economic dignitaries.

The strategic cooperation agreement between the two companies comes after Attica Bank and a consortium of public and private institutions agreed to establish a fund to invest in projects relating to the Greek Local Authorities such as street lighting, waste management, desalinisation, biological purification, renewable energy and business parks. As part of its commitment, SUMEC has agreed to supply its machinery to the projects that will be implemented with the participation of the investment fund.

Commenting on the agreement, the President of SUMEC, Mr. Cai Jibo said:  "I am sure Greece will recover from the economic crisis very soon, so now is the time to invest here."

Further expanding the cooperation with Attica Finance, SUMEC also had a meeting with Hellenic Post, the leader in the Greek postal market and the universal service provider. In the same context, SUMEC, Attica Finance and Hellenic Post signed a MOU to express their intention to explore possible ways of cooperation including cost-effective transfer of products and reduction of Hellenic Post's energy consumption by replacing the existing lighting with new technology LED lights. Phono Solar, a leading brand in the renewable energy sector and subsidiary of SUMEC, was appointed to do the replacement.

 

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