Press Release Archive

Wednesday, 1 June 2005
INTRACOM expands its activities in Libya New Libya Branch inaugurated

Yesterday, INTRACOM inaugurated its new branch in Libya. This strategic decision reflects the company's vision to participate as a key international player in the modernization process of South-Eastern Europe and Middle East economies. INTRACOM Group's products and services reach 60 countries all over the world. The company has subsidiaries in 16 countries and employs 1,800 professionals outside Greece.

More than seventy attendees participated in the inaugural ceremony, including the Libyan Undersecretary of People's Committee for Economy, other high-level government officials, executives from the private sector, Mobile Operators, aviation companies, banks, the General Post & Telecommunication Company (GPTC), the National Oil Company, the National Electricity Company, as well as Academics from the University of Tripoli and officials from the Greek Embassy.

Alexandros Manos, INTRACOM Executive Director, declared: "The Middle East & North Africa region is increasingly becoming a significant market for investments. Within this framework, Libya became a strategic choice for INTRACOM. Following its successful presence in Jordan and Dubai, INTRACOM, with its broad experience in the ICT sector, addresses Libya as a high priority strategic market. We are here to work hard with you."

Dimitris Kynigopoulos, General Manager INTRACOM Libya Branch, underlined: "INTRACOM is one of the first Greek companies to invest in Libya. As one of the leading multinational ICT providers in South-Eastern Europe, we have both the experience and technological know-how to support your development plans. Our promise is to participate in Libya's vision."

In the context of its presence in Libya, INTRACOM participated in Taqnya Expo 2005, an exhibition regarding telecommunications solutions and high technology products providers. It is worth mentioning that the exhibition addressed exclusively GPTC's current or potential suppliers. INTRACOM was the only Greek participation.

About INTRACOM

Founded in 1977, listed on the Athens Stock Exchange since 1990 and included in the FTSE/ASE-20 LargeCap index, INTRACOM is the largest multinational Information & Communications Technology (ICT) solutions provider in Greece. The company serves primarily the telecommunications, government, defense, and banking & enterprise business fields. INTRACOM Group's international activities, products and services reach the markets of 60 countries all over the world, focusing mainly on South-East Europe, while present in the EU, the Middle East, North Africa and the USA. INTRACOM has subsidiaries in 16 countries around the world. In 2004 the company invested 7-5% of its revenues in R&D activities, while operating state-of-the-art R & D labs allowing rapid prototype development and validation. 5,450-strong INTRACOM Group reached €620.4 mil. in sales and €43.1 mil. in profits before tax in 2004. International activities account for over 45% of the Groupís annual turnover. In 2002, INTRACOM founded the Athens Information Technology (AIT), a non-profit educational and research center which cooperates with the internationally acclaimed Carnegie Mellon University of USA. INTRACOM's vision is to participate as a key international player in the modernization process of regional economies.