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ANNOUNCEMENTS

Petropoulos: Press Release

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PETROS PETROPOULOS AEBE and F. GOLFINOPOULOS S.A. signed today a long-term partnership agreement to market Tohatsu outboard motors in the Greek market.
 
As part of this agreement PETROS PETROPOULOS AEBE will play a leading role in the wholesale market while F. GOLFINOPOULOS will lead the retail market through its store located at Varis-Koropiou Ave. F. GOLFINOPOULOS will provide PETROS PETROPOULOS AEBE with its know-how and experience.
 
Commenting on this strategic alliance, Mr. Kostas Golfinopoulos said: “With the current market conditions, partnerships that result in economies of scale are the only way forward. I am thankful that we were able to reach the agreement announced today, which will be beneficial for both companies and for the future of Tohatsu in Greece”.
 
Furthermore, the Chairman of the Board of Directors of PETROS PETROPOULOS AEBE, Mr. Costas Petropoulos, commenting on the agreement said that, “it will increase the profitability of our Engines and Boats Business Unit by adding a range of 4-stroke engines with an output ranging from 2.5 to 50 hp, which was something we did not have up to now. Tohatsu engines are well-known for their reliability and are particularly popular in the low hp categories, a section of the market least hit by the crisis. Tohatsu plant, Japan’s oldest outboard motor factory, is today the world’s largest manufacturer of small 4-stroke outboard engines. We aim to work in close collaboration with GOLFINOPOULOS so that owners of Tohatsu engines can continue to enjoy the exceptional level of support they had so far”.
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