GREECE THRACE PAPER MILL S.A. DETAILED DATA INDEX ‐ CONTENTS A. THE COMPANY A1. Assets evaluation A2. Evaluators A3. Financial historical data 1980‐2010 A4. Executive Summary A5. General description & Tissue paper machines (4 pages) A6. Operational assets other than machinery A7. Operation permissions of factory (2 pages) A8. Electricity trade in Greece A9. Agricultural production in Thrace Paper Mill’s land B. AREA COMMERCIAL DATA B1. South East Europe estimated tissue markets 2010 B2. Map of production, sales and distribution in Greece, Bulgaria, Balkans and SE Europe B3. Main figures for tissue market in Greece B4. Supermarket chains and groups in Greece B5. Thrace Paper Mill export countries (25 + 13 countries) B6. Number of branches, fleet size and sales team size B7. Thrace Paper Mill pulp suppliers C. THRACE PAPER MILL C1. Roads connecting Belovo ‐ Saloniki – Xanthi C2. Map of Xanthi C3. Thrace Paper Mill topographic Layout C4. Thrace Paper Mill factory photos (3 pages) C5. Thrace Paper Mill machinery (19 pages) C6. Thrace Paper Mill waste paper flow sheet + Effluents/ Rejects C7. Thrace Paper Mill unconverted paper photos (3 pages) C8. Thrace Paper Mill branches, logistic centres (9 pages) C9. Harbours and distribution centres (2 pages) C10. Thrace Paper Mill converted products photos (4 sheets 8 pages)
THRACE PAPER MILL S.A. ASSETS EVALUATION official fair market S/N Greek State value mil € real estate 1. LAND & BUILDINGS Industrial Land 195.750 m² x 400€/m² 0,08 0,21 LAND IN 1.1. Agricultural Land 1.094.830 m² 0,44 0,52 0,96 1,17 XANTHI TOTAL 1.290.580 m² Built up area m 2 Old Mill 24.299 m² x 350€/m² 8,50 BUILDINGS IN New Mill 27.787 m² x 550€/m² 15,28 1.2. TOTAL 52.086 m² 25,11 12,98 XANTHI Offices 1.179 m² x 650€/m² 0,77 Guest House 855 m² x 650€/m² 0,55 GRAND TOTAL 54.120 m² Location Land m 2 Built up area m 2 REAL *Thessaloniki 14.061 m² 3.063 m² 5,95 0,94 ESTATE *Iraklio 7.000 m² 2.774 m² 2,00 0,65 1.3. *Larisa 5.930 m² 1.954 m² 1,80 12,80 0,52 2,86 OUTSIDE *Ioannina 8.625 m² XANTHI *Kozani 16.625 m² 1.500 m² 1,70 0,42 0,33 1,35 1.111 m² TOTAL 52.241 m² 10.502 m² TOTAL LAND & BUILDINGS 38,4 17,0 Year of fair market Commercial S/N construction value mil € value mil € 2. MACHINERY 2.1. PAPER MAKING PM II Overmeccanica, suction breast roll (stock preparation, constant part, fibers and water recovery, 1984 14,0 14,0 headbox to reel and 2ply Celli rewinder) trim 2,54 m, 1200 m/min, 50 tons/day, Yankee diam: 3,6 m * in comparison PM III Voith, crescent former (stock preparation, constant part, fibers and water recovery, headbox to 1997 22,0 22,0 with Papyros reel and 4ply Celli rewinder), trim 2,60 m, 1500 m/min, 70 tons/day, Yankee diam: 4,579 m (Sofidel recent Sulzer waste paper treatment installation, 100 tons/ day, including mechanical treatments, washing, installation in various stages 14,0 14,0 sale) *** deashing, deinking, hot dispersion and bleaching 1992-1997 TOTAL PAPER MAKING 50,0 50,0 2.2. CONVERTING 2.2.1. TR / KR / A-f-H LINES Perini-1, W= 2560 mm, DECO embossing, softening, microquilt, personalized embossing, 500 m/min, 2,9 2,9 25 logs/min 1996 Perini-2, W= 2560 mm, Point-to-Point, microquilt embossing, 400 m/min, 20 logs/min 1993 2,6 2,6 Perini-3, W= 2560 mm, Point-to-Point, DESL embossing, 2 colors printing, 350 m/min, 18 logs/min 1990 2,6 2,6 Total TR / KR lines 8,1 8,1 2.2.2. NAPKIN LINES PCMC 'Super8 II', 30x30 cm, W:8x30=240 cm, automatic transfer, 3000 napkins/min, 110 m/min, 1986 1,0 1,0 2 colors printing PCMC 'Super8 III', 30x30 cm, W:8x30=240 cm, automatic transfer, 5500 napkins/min, 200 m/min 1993 1,0 1,0 HOBEMA I, 24x24 cm, 4 decks, W:4x24=96 cm, 2500napkins/min, 200 m/min, 2 colors printing 1982 0,7 0,7 HOBEMA II, 30x30 cm, 4 decks, W:4x30=120 cm, 2500 napkins/min, 200 m/min, 2 colors printing 1984 0,7 0,7 HOBEMA III, 30x30 cm, 4 decks, W:4x30=120 cm, 2500 napkins/min, 200 m/min, 2 colors printing 1984 0,7 0,7 HOBEMA IV, 33x33 cm, 2 decks, W= 33 cm, 1200 napkins/min, 200 m/min, 2 colors printing 1992 0,4 0,4 SEM, 30x30 cm or 24x24 cm, W= 30 or 24 cm, 800 napkins/min (for 30x30cm), 1000 napkins/min (for 24x24 cm), 240 m/min, 2 colors printing 2000 0,1 0,1 OCEAN, 24x24 cm, W= 24 cm, 1000 napkins/min, 250 m/min, 2 colors printing 1995 0,1 0,1 Total NAPKIN lines 4,7 4,7 2.2.3. OTHER CONVERTING (hankies, facial, wadding, table clothes, etc) 1,3 1,3 2.2.4. PE PLANT 2 Extruders LDPE, BIELLONI, W=160 cm, 150-180 kgr/h & ALPINE, 130-160 kgr/h (or 50-100 kgr/h 1994 0,3 0,3 for HDPE), W=140 cm Central drum flexo printing machine, CMF Prestige 806, 6-colours, 250 m/min, w=1400 mm 1991 0,3 0,3 Bag making machine, Azzura Trading S.r.l. Sacomatic, 65-110 bags/min (depending on size bag) 1988 0,2 0,2 Garbage bag making machine, Azzura Trading S.r.l. Sacoroll, 85-110 bags min (depending on size 1988 0,1 0,1 Regranulate, rubber stereos, other 1989 0,05 0,05 Total PE Plant 0,9 0,9 TOTAL CONVERTING INCLUDING PE PLANT 15,0 15,0 TOTAL MACHINERY 65,0 65,0 3. INFRASTRUCTURE 3.1. Spare parts (book value) 4,0 4,0 3.2. Water supply and preparation 2,0 2,0 3.3. Effluent treatment 2,0 2,0 3.4. Substation and transformers 20 KV / 0,38 KV (7=8 MW) 2,0 2,0 3.5. Boiler house (2 gas fired boilers, 15 bar, 18 t/h and 12 bar, 12 t/h) 2,0 2,0 3.6. Compressed air station 2,0 2,0 3.7. Workshop 2,0 2,0 3.8. Scales, cranes, forklifts, cars (~100 cars) 2,0 2,0 3.9. Furniture, office equipment, utilities, various 2,0 2,0 TOTAL INFRASTRUCTURE/ VARIOUS 20,0 20,0 TOTAL MACHINERY, INFRASTRUCTURE/ VARIOUS 85,0 85,0 FIXED ASSETS GRAND TOTAL 123,4 102,0 5. INTANGIBLE ASSETS Intangible assets, goodwill, know how, licenses, brands, clientelle etc. 10,0 10,0 TOTAL INTANGIBLE ASSETS 10,0 10,0 ASSETS GRAND TOTAL 133,4 112,0 ***Comparative figures -> Sofidel No 2 in size in Europe bought Papyros in Katerini, North East Greece recently with one only paper machine like our PMIII (2.1) in a building of 4.000 m² in land of 10.000 m² at a price of 25 mi € without anything else like our assets. For the same we budget 22,0 mi €. 28.04.2014
A2 THRACE PAPER MILL ASSETS EVALUATORS Land and buildings have been evaluated by Civil Eng. V. Koitsanos with 20 years general experience in the most prominent construction companies (Doxiadis, Elliniki Technodomiki, Spata Airport) and 30 years in paper mills in Egypt, Greece and Bulgaria as well as the architect E. Vamvaka, based on the official rates that are lower than the normal market rates in Greece. Machinery have been evaluated from two experts Chemical Engineers PhD M. Sideridis and Eng. G. Angelopoulos, both with 30 years experience in Greece, Egypt and Bulgaria in paper mills. For the PM III, the recent sales value of Papyros one paper machine in Central Greece to Sofidel a 25‐28 mil € has been the comparative figure to estimate for paper machine No III 22 mil €. Additionally with PM II 14,0 mil € and the state of the art Sulzer waste paper treatment evaluation at 14 mil €, we have a total 50,0 mil € for paper making. The converting at 15,0 mil € and the infrastructure at 20,0 mil €, plus intangible assets 10 mil €, we reach a grand total 112 mil € All the above have been confirmed from Professor N. Markatos ex‐Rector of the National Technical University of Athens who is also President of the Chemical Engineering School specialised in the paper technology and industrial buildings constructions. It is then evident that all of them combine the most appropriate evaluators in our case in the field of paper industry in the area. 23.04.2013
A3 DIANA A3 financial historical data/Thrace/ms THRACE PAPER MILL S.A. HISTORICAL DATA DRH US $ DRH ECU US $ DRH EURO € US $ EURO € US $ YEAR 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 RATE $ / EURO $ / DRH 43,062 55,427 66,780 87,889 112,681 138,197 139,954 135,429 141,861 162,420 0,730 158,515 0,748 175,680 0,828 215,250 0,896 249,970 0,816 240,820 0,782 237,750 0,805 247,760 0,906 279,000 0,856 280,000 0,995 328,440 1,062 361,884 1,117 380,481 0,954 0,797 0,733 0,844 0,758 0,679 0,709 0,698 0,755 CASH FLOW (NET PROFITS + DEPRECIATION) % ON NET SALES 35,41% 29,52% 26,04% 23,95% 10,57% 9,32% 10,68% 8,40% 7,02% 6,79% 14,68% 17,64% 22,77% 19,75% 14,59% 13,02% 13,44% 9,58% 17,94% 18,08% 11,74% 4,82% 4,08% 2,58% 1,70% 1,51% 1,25% -4,28% -11,97% -11,18% -18,81% 01.03.2012 IN MILLIONS 52,4 1,2 239,7 4,3 303,1 4,5 340,5 3,9 208,9 1,9 248,0 1,8 422,4 3,0 340,2 2,5 353,1 2,5 410,6 2,5 1.011,3 4,7 6,4 1.442,0 6,1 8,2 2.199,0 8,5 10,2 1.959,0 7,0 7,8 1.416,3 4,8 5,9 1.481,9 4,9 6,2 1.682,4 5,5 6,8 1.511,8 4,9 5,4 3.032,0 9,3 10,8 3.246,0 9,8 9,9 1.932,0 5,7 5,3 808,0 2,4 2,1 2,1 2,2 1,4 1,8 0,9 1,2 0,7 0,8 0,5 0,7 -1,9 -2,8 -4,1 -5,8 -3,0 -4,3 -4,1 -5,4 NET SALES IN MILLIONS 148,0 3,4 812,0 14,6 1.164,0 17,4 1.422,0 16,2 1.976,0 17,5 2.660,0 19,2 3.956,0 28,3 4.052,0 29,9 5.030,0 35,5 6.050,0 37,2 6.891,0 31,7 43,5 8.175,0 34,8 46,5 9.657,0 37,2 44,9 9.921,0 35,6 39,7 9.707,0 32,9 40,3 11.382,0 37,4 47,9 12.514,9 40,6 50,5 15.787,4 51,3 56,6 16.900,9 51,7 60,4 17.958,0 54,4 54,7 16.450,0 48,3 45,5 16.753,0 49,2 46,3 51,5 54,0 54,2 68,0 52,9 72,2 4 HISTORICAL DATA LIABILITIES IN MILLIONS TOTAL NET 327,0 327,0 7,6 7,6 368,0 364,0 6,6 6,6 340,0 336,0 5,1 5,0 774,0 770,0 8,8 8,8 1.470,0 1.470,0 13,0 13,0 1.398,0 1.389,0 10,1 10,1 1.429,0 1.429,0 10,2 10,2 1.046,0 1.046,0 7,7 7,7 1.379,0 1.379,0 9,7 9,7 1.661,0 1.661,0 10,2 10,2 1.751,0 1.751,0 8,1 8,1 11,0 11,0 1.458,0 1.458,0 6,2 6,2 8,3 8,3 2.153,0 1.653,0 8,3 6,4 10,0 7,7 3.676,0 3.476,0 13,2 THRACE PAPER MILL S.A. TO BANKS 278,0 6,5 240,0 4,3 243,0 3,6 520,0 5,9 854,0 7,6 884,0 6,4 897,0 6,4 731,0 5,4 866,0 6,1 956,0 5,9 600,0 2,8 3,8 254,0 1,1 1,4 184,0 0,7 0,9 2.178,0 7,8 8,7 3.327,0 11,3 13,8 4.031,0 13,3 17,0 4.043,2 13,1 16,3 10.103,0 32,8 36,2 8.158,4 24,9 29,1 8.978,0 27,2 27,3 10.203,0 29,9 28,2 10.015,0 29,4 27,7 28,2 29,6 26,8 33,6 24,6 33,6 24,1 28,6 19,6 25,9 22,1 32,5 16,8 23,7 14,9 2 OWN CAPITAL IN MILLIONS 60,0 1,4 182,3 3,3 359,3 5,4 587,1 6,7 575,5 5,1 656,0 4,7 722,5 5,2 1.363,0 10,1 1.358,0 9,6 1.651,0 10,2 2.131,0 9,8 13,4 2.911,0 12,4 16,6 3.584,0 13,8 16,7 4.450,0 16,0 17,8 4.918,0 16,7 20,4 5.492,0 18,1 23,1 5.891,4 19,1 23,8 6.570,4 21,3 23,5 7.162,9 21,9 25,6 6.832,0 20,7 20,8 6.671,0 19,6 18,4 5.469,0 16,0 15,1 14,9 15,6 15,8 19,8 17,0 23,2 17,1 20,3 17,1 22,6 CURRENT ASSETS IN MILLIONS 142,6 3,3 408,9 7,4 519,5 7,8 936,1 10,7 1.308,1 11,6 1.332,1 9,6 1.515,2 10,8 1.915,2 14,1 2.051,7 14,5 2.820,3 17,4 3.087,5 14,2 19,5 3.713,9 15,8 21,1 4.601,6 17,7 21,4 4.510,0 16,2 18,0 6.528,0 22,1 27,1 6.433,0 21,2 27,1 7.904,0 25,7 31,9 10.183,7 33,1 36,5 10.535,4 32,2 37,6 13.686,0 41,5 41,7 14.456,0 42,4 39,9 13.369,0 39,2 36,9 38,6 40,5 40,6 51,0 37,9 51,7 39 % ON NET FIXED ASSETS IN MILLIONS SALES 297,2 6,9 302,2 5,5 465,3 7,0 818,9 9,3 1.351,5 18,12% 12,0 1.574,2 16,63% 11,4 1.852,9 14,60% 13,2 3.094,0 17,07% 22,8 3.645,0 16,21% 25,7 3.809,0 15,97% 23,5 4.230,0 17,72% 19,5 26,7 4.443,0 17,84% 18,9 25,3 5.530,0 18,44% 21,3 25,7 6.831,0 22,94% 24,5 27,3 7.637,0 26,32% 25,9 31,7 8.401,0 23,61% 27,6 35,3 10.718,3 23,66% 34,8 43,3 17.658,6 22,50% 57,3 63,3 1 PERSONNEL COST IN MILLIONS DRH USD DRH USD DRH USD DRH USD 358,1 DRH 3,2 USD DRH 442,3 USD 3,2 577,7 DRH 4,1 USD DRH 691,8 USD 5,1 815,2 DRH 5,7 USD DRH 966,1 USD 5,9 1.220,9 DRH 5,6 EURO 7,7 USD DRH 1.458,8 EURO 6,2 8,3 USD 1.780,9 DRH EURO 6,9 USD 8,3 2.276,1 DRH 8,2 EURO USD 9,1 DRH 2.554,5 8,7 EURO 10,6 USD DRH 2.687,3 EURO 8,8 11,3 USD 2.960,8 DRH EURO 9,6 USD 12,0 3.551,7 DRH PERSONNEL AVERAGE PRESENT EMPLOYED 58 168 241 266 320 413 459 487 474 481 501 481 518 520 538 491 529 478 514 511 543 555 599 615 668 605 658 580 624 525 559 510 552 450 483 421 450 385 418 354 390 298 320 233 253 197 215 171 192 NET LIABILITIES = TOTAL LIABILITIES - DIVIDENDS TO SHAREHOLDERS - PROFIT TO BE CARRIED FORWARD PRODUCTION YEAR IN THOUSAND TONS 10 10 12 15 19 23 23 22 22 24 26 28 28 27 27 26 34 38 43 34 33 35 33 37 34 33 28 26 23 16 NOTE ON LIABILITIES 1991 1990 1994 1995 1992 1993 1983 1984 1982 1980 1981 1988 1989 1987 1985 1986 1. 1996 1997 2. 1998 3. 1999 4. 2000 5. 2001 6. 12 years 2002 7. 40 mil €/year net sales above 2003 8. 2004 9. 2005 10. 2006 11. 2007 12. 2008 2009 2010
A4 EXECUTIVE SUMMARY THRACE PAPER MILL S.A. / DIANA / GREECE No 2 in production capacity in Greece 20% in sales in Greek tissue paper market Exports converted products in 13 countries and unconverted paper in 25 countries. From Greece we have also the possibility of VAT FREE and DUTY FREE exports to the 500 million consumers of the 28 European Union countries. We dispose logistic centres close to the harbours of Greece for imports and trade from the first entrance by sea to the European Union countries. Historical data 1980 – 2010 about sales, profits and other information Max sales: 12 continuous years with more than 40 mil € per year, max profits 9,8 mil € in 1999. Export sales are about 16‐17% and reached 24% of total converting and unconverting sales in 2004. Assets evaluation: 112 mil €, Evaluators: Koitsanos, Sideridis, Angelopoulos, Vamvaka, Markatos (rector of National Technical University of Athens) Greece is the biggest area tissue market working mainly with credits and 50% private label products. Thrace Paper Mill Diana in Xanthi NE Greece is a modern tissue paper mill with excellent layout and unlimited expansion possibilities with 2 tissue machines integrated with waste paper treatment tissue converting, polyethylene packaging production, sales and distribution of its paper and products all over Greece and in the area. 23.04.2014
A5 GREECE THRACE PAPER MILL S.A. XANTHI THRACE PAPER MILL S.A. - “Diana” - started operation in 1980 as a company under Investment Law 289/1976. It is presently one of the big private companies in Thrace (Northern-East Greece) and the No 2 Τissue producer in Greece holding 20% of the tissue paper market. 2 The production plant is located in Magana - Xanthi on a 195.750 m plot of land comprising industrial buildings totalling 52.000 m², offices and services buildings of 2.000 m², effluent treatment plant, garden area of 100.000 m², 1.094.000m² to be used for high quality agriculture of biological products. The mill is 20 min distance from Kavala airport, 1 hour from Alexandroupolis airport, two hours drive from Thessaloniki airport and 120 km from Belovo Paper Mill straight line with 4 main connections of the 2 countries. THRACE PAPER MILL S.A. - “Diana” has capacity to produce annually 50.000 Tons of tissue paper 13-35 gr/m² with two paper machines. One suction breast roll and one crescent former. The raw material used is imported pulp and local waste paper that it is further processed using high tech equipment involving sophisticated partly developed with in house know-how to produce clean refibers up to 82° GE brightness. The main Paper Machines data are given below: Type of Year Type of Paper, Width cm Speed Yankee Capacity MACHINE 2 machine build B.W. gr./ m HB Trim m/ min. diam tons/ year Suction PM 2 1984 Tissue 15,5-35 260 255 1.200 3,6 m 22.000 breast roll Crescent PM 3 1997 Tissue 14-35 263 255 1.700 4,6 m 28.000 Former
2 - - Tissue paper qualities in white and pastel colours: Pulp Normal Brightness 86+ Velour 86 Brightness 86+ Special 85 Brightness 85+ Special 84 Brightness 84+ Recycled Super 82 Brightness 82+ New 75 Brightness 75+ Green 70 Brightness 70+ Zita 65 Brightness 65+ Crepto 55 Brightness 55+ The major part of the paper produced is converted into Toilet Rolls, Kitchen Rolls, Hand Towels, Napkins, Pocket Handkerchiefs, Facial Tissues, Wadding, Table Covers and other Special products. The converting plant is continuously modernized and is consisting of: One 4-ply and one 2-ply slitter rewinders Three Perini lines of toilet/ towel rolls with various embossing and printing possibilities (DECO, DESL, Point-to-Point, Personalised etc) wrapped by 1,2,4,8,12,20,24 and over wrapped in bags of 48/72 rolls that operate from jumbo rolls W=2.500mm/ 2.500 mm Φ directly from the paper machines Two fully automatic Paper Converting Super 8 Napkins folders with automatic transfer that operate from jumbo rolls W=2.500mm/ 2.500 mm Φ directly from the paper machines Two Hobema Napkins folders that operate from jumbo rolls W=1.250mm/ 2.500 mm Φ directly from the paper machines Five napkins lines of several types One facial line One line of pocket handkerchiefs One line for wadding One line for table covers Special converting units THRACE PAPER MILL S.A. - “Diana” is integrated with flexible packaging material production, i.e. polyethylene blown film with two extruders, printing with one 6 colour flexo printer, bagging with two bag making machines. The plant also comprises special printing facilities and polyethylene recycling equipment used to produce garbage bags in 2 lines. The annual converting plant production is 5.000.000 commercial units wrapped in paper or polyethylene. This means that the consumers use 20.000.000.000 times per year “Diana” products for almost 30 years. The converted products are automatically palletised and partly stored in 3 level pallet roads, from where they are forwarded to the company’s customers and distribution centres.
3 - - There is a special warehouse for rolls to be exported or sold to local converters. The infrastructure includes a workshop for repairs and constructions, a computerised spare-parts and consumables warehouse comprising 40.000 items, a modern boiler room, with natural gas supply, a compressed - air station, deep wells for the process water, fibers recovery and effluent treatment for recycling irrigation or dumping. A canteen and sport facilities for the personnel are also included. The factory is supplied with 20.000 V electricity through three substations. The contracted power is 8.000 KVA. One generator of 250 KVA is used in emergency cases. THRACE PAPER MILL S.A. - “Diana” employees 118 people in the mill and 100 in sales, distribution and other Zeritis Group activities. The extended sales and distribution network of the company practically covers Greece and exports to 65 countries and also markets the products of the sister companies and other outsourced products, mainly fast moving consumer goods. THRACE PAPER MILL S.A. - “Diana” is outsourcing from Belovo labour intensive converted products, like printed napkins, and from local converters using Thrace Paper Mill paper some special converted products like industrial rolls. THRACE PAPER MILL S.A. - “Diana” owns 7 sales and distribution centres in Athens, Salonika, Ioannina, Larissa, Patra (rented), Heraklion and Xanthi where the production plant is located. The Athens headquarters and logistics facilities are two. One in Iera Odos 150, th in Metro 3 “Elaionas” station (pictures C8) and one in the 18 klm of the National Highway on the junction Varibobi – Nea Erithrea, in a piece of land 2 112.000 m and includes a fully automatic storage tower for 14.400 europaletes 2 plus 8.000 m building (for receiving and delivering to trucks and storing various 2 dimensions products) plus 2.000 m offices (pictures C8). Both are not owned by Thrace Paper Mill S.A. but by Zeritis. In the islands for the distribution of its products, the company has local representatives. All distribution centres are supplied through a private and rented fleet of jumbo 3 3 supply trucks of 100 m each. The distribution trucks of 25-45 m each, 300 per month, are reaching various selling points and distribution centres. THRACE PAPER MILL S.A. - “Diana” is a quality conscious company operating under the ISO 9001 Quality Assurance Certificate. (From 1995 is under the ISO 9002). It has been also honoured with America Award, Arab Trophy, Europe Award, and International Gold Star for quality and other Trophies. 27.07.2015
A5b 5.610 10.428 16.038 Actual yearly production 2009 2008 22.505 25.560 7.586 9.869 14.919 15.690 2010 YEARLY actual yearly tons 34.747 15.264 19.483 actual year 1992 1999 possible maximum ton/year 12 x monthly 38.213 17.047 21.166 MONTHLY actual monthly tons 3.184 1.421 1.764 MAXIMUM actual month Oct 90 July 99 possible maximum ton/year 350 x daily 47.705 20.335 27.370 DAILY actual daily tons 136,3 58,1 78,2 actual date 22.07.02 24.06.99 Drying Capacity Ton/Year 50.000 22.000 28.000 Yankee Diam (mm) 3.600 4.583 Machine TRIM HB (cm) (cm) 255 260 255 263 Max Speed (m/min) 1.200 1.700 B.W. (gr/m 2 ) 15,5-35 14-35 TISSUE PAPER MACHINES Weight Wire (gr/m 2 ) 12-35 11,5-35 Type of Paper Tissue Over Tissue Voith Type of Machine THRACE PAPERMILL S.A. 'DIANA' Yankee Yankee Machine P.M. 2 P.M. 3 No 1 2
A6 Operational assets other than machinery The company is receiving approximately 0,86 mi € per year from CO 2 emissions. Thrace Paper Mill is owner of a 195.750 m² plot of industrial land with industrial buildings and services and 1.085.790 m² of land are dedicated to other profitable business activities such as high added value agricultural cultivations etc (annual sales estimated above 40 mil €). In addition, the TPM owns land and buildings of the branches, as already described in Salonika, Ioannina, Larisa, Irakleio and Kozani (the later is not used but rented to third party). The value of TPM owned branches is 12,8 mi €. Logistic facilities for imports and exports to peripheral markets in the Balkan, Eastern Europe, Middle East and the rest of Europe can be also offered through distribution centers owned by Zeritis Group. Thrace Paper Mill will act as subcontractor to any further future business activities and will offer the follow facilities and services occasionally: Guest house Electromechanical workshop Heavy machinery for land shaping and cultivation Offices and warehouse in the South TPM building and Personnel for various services including receivable of goods, storage, land preparation, guard, erection, start up, commissioning, operation maintenance and repairs as the case may be. 20.01.2014
A7 OPERATION PERMISSIONS OF FACTORY Α/Α Date issue Valid Years Version Number Issuing Authority 9/11/2001 1 Licensed Factory Continuous Φ14.166/835/1-10-01 Division of Minerals and Industry, Xanthi Operation 13/04/2009 Fire 8 years 2 FIRE DEPARTMENT Certificate 18/6/2010 5 years 3 Minisrty of Public Works and Environment Enviromental Terms 21/4/2009 Boiler 3 years 4a Industry Division Hephaestus 350 3 years 4b 08/9/2010 Industry Division Boiler STANDARDKESSEL 16/5/2002 5 Liquid Waste Disposal Continuous Δ.Υ. 2777 Division of Health Control, Xanthi License 04/08/2014 04/08/2011 License REGION OF EAST MACEDONIA AND THRACE, 6 Traffic Note DIRECTORATE OF DEVELOPMENT 2,5 years 22/10/2009 7a Clark LINDE GERMANY LIFTING EQUIPMENT CERTIFICATION LICENSE (i.e. LLOYDS or TUV) / H30 T - 03 / 351 J06 108 630 / 1998 2,5 years 22/10/2009 7b Clark LINDE GERMANY LIFTING EQUIPMENT CERTIFICATION LICENSE / H30 D - 332 / 332 407 (i.e. LLOYDS or TUV) 010 540 / 1982 2,5 years 27/10/2009 7c Clark LINDE GERMANY LIFTING EQUIPMENT CERTIFICATION LICENSE / E15 / 324 Φ07 117 (i.e. LLOYDS or TUV) 415 / 1995 22/10/2009 Clark 2,5 years 7d HYSTER / H500 XLE / LIFTING EQUIPMENT CERTIFICATION LICENSE F5A 4680H / 1986 (i.e. LLOYDS or TUV) 22/10/2009 2,5 years CLARK / C 500 YB 135 LIFTING EQUIPMENT CERTIFICATION LICENSE 7e D / Y1015 - 1255 - BRF (i.e. LLOYDS or TUV) 5066 / 1992 2,5 years 21/10/2009 LIFTING EQUIPMENT CERTIFICATION LICENSE 7f Clark LINDE / H30T / (i.e. LLOYDS or TUV) 331 407 023 230 /1984 2,5 years 27/10/2009 LIFTING EQUIPMENT CERTIFICATION LICENSE 7g Clark TCM / FD 25 Z 5T (i.e. LLOYDS or TUV) / B 32TE 71 466 / 1997 1 year Platform 29/10/2010 LIFTING EQUIPMENT CERTIFICATION LICENSE 7h BENFORD ENGLAND / (i.e. LLOYDS or TUV) LM 46 S 223 178 1987 Auto Crane 29/9/2011 2 years 8 DEMAC KF 1521/30 / LIFTING EQUIPMENT CERTIFICATION LICENSE 290 40 531 /1971 (i.e. LLOYDS or TUV)
Crane 19/11/2009 2 years DEMAC ZKKE A)41 LIFTING EQUIPMENT CERTIFICATION LICENSE 8a 602339 B)41602337 (i.e. LLOYDS or TUV) (PM3) 2 years Crane 19/11/2009 8b DEMAC / EKDH / 325 LIFTING EQUIPMENT CERTIFICATION LICENSE H122 /1 KV 2F6 (PM3) (i.e. LLOYDS or TUV) Crane 19/11/2009 2 years DEMAC / A)24 / 14 K LIFTING EQUIPMENT CERTIFICATION LICENSE 8c 4P / B) KBF 100 LA 8/2 (i.e. LLOYDS or TUV) (PM1) 2 years Crane19/11/2009 LIFTING EQUIPMENT CERTIFICATION LICENSE 8d DEMAG / A) 3226121 P (i.e. LLOYDS or TUV) 416 H22 (PM2) Crane 19/11/2009 2 years 8e DEMAG / LIFTING EQUIPMENT CERTIFICATION LICENSE A)3226121(PM2) (i.e. LLOYDS or TUV) Crane 19/11/2009 2 years 8d DEMAG / PM III Super 8 LIFTING EQUIPMENT CERTIFICATION LICENSE /1995 (i.e. LLOYDS or TUV) 5 years 18/11/2009 Certificate LIFTING EQUIPMENT CERTIFICATION LICENSE 9 Operation Tank LPG (i.e. LLOYDS or TUV) Air pressure tank 3 years 10a Mevaco I 18/5/2009 LIFTING EQUIPMENT CERTIFICATION LICENSE 2000 62 / 1987 (i.e. LLOYDS or TUV) Air pressure tank 3 years 18/5/2009 LIFTING EQUIPMENT CERTIFICATION LICENSE 10b Mevaco IΙ 2000 223 / (i.e. LLOYDS or TUV) 1987 Air pressure tank 3 years 10c 18/5/2009 LIFTING EQUIPMENT CERTIFICATION LICENSE (i.e. LLOYDS or TUV) Artemis ΙΙΙ 7 / 1992 2 years 31/12/2010 11 Usage Licence GREEK COMMITTEE OF ATOMIC ENERGY Radioactive Substances 19/10/2003 PREFECTURE OF DRAMA-KAVALA- 12 Certificate Operation Continuous Αρ.Πρ. 6520 Gas Oil XANTHI 25/02/2003 13 Certificate Operation Continuous 048/Α03 PUBLIC GAS CORPORATION Natural Gas 5 years 15/04/2011 REGION OF EAST MACEDONIA AND THRACE, 14a Well Νr.1 DIRECTORATE OF WATER MANAGEMENT 5 years 15/04/2011 REGION OF EAST MACEDONIA AND THRACE, 14b Well Νr.2 DIRECTORATE OF WATER MANAGEMENT 15/04/2011 5 years REGION OF EAST MACEDONIA AND THRACE, 14c Well Νr.3 DIRECTORATE OF WATER MANAGEMENT 15/04/2011 5 years REGION OF EAST MACEDONIA AND THRACE, 14d Well Νr.4 DIRECTORATE OF WATER MANAGEMENT 5 years 15/04/2011 REGION OF EAST MACEDONIA AND THRACE, 14e Well, Νr.5 DIRECTORATE OF WATER MANAGEMENT 5 years 15/04/2011 REGION OF EAST MACEDONIA AND THRACE, 14f Well Νr.6 DIRECTORATE OF WATER MANAGEMENT 5 years 15/04/2011 REGION OF EAST MACEDONIA AND THRACE, 14g Well Νr.8 DIRECTORATE OF WATER MANAGEMENT 5 years 01/01/2007 15 Minisrty of Public Works and Environment Carbon Disposal License IN ORDER TO HAVE VALID LICENSE No1, ALL 15 SUBLICENSES SHOULD BE VALID OR PREPARED TO BE VALID
A8 ELECTRICITY TRADE IN GREECE ELECTRICITY SALES FROM OUR GROUP ELECTRICITY SALES FROM OUR GROUP TO PPC TO THE OTHER GREEK MARKET FROM 2003 UP TO 2010 FROM 2003 UP TO 2010 YEAR SALES IN € YEAR SALES IN € 2003 25.058.300 2003 325.211 2004 28.564.780 2004 4.346.181 2005 34.565.125 2005 20.077.067 2006 64.325.050 2006 25.814.701 2007 4.805.200 2007 38.058.346 2008 62.500.840 2008 61.994.306 2009 55.650.120 2009 8.902.139 2010 45.250.125 2010 1.098.585 TOTAL 320.719.540 TOTAL 160.616.536 SALES GRAND TOTAL PPC and OTHER GREEK MARKET 481.336.076 AVERAGE ANNUAL SALES 481.336.076 ÷ 8 60.167.010 2015- 2016 Details of the electricity trade operation of DIANA and BELANA later with the new conditions.
A9 20.02.2015 ZERITIS GROUP AGRICULTURAL PRODUCTION IN THRACE PAPER MILL's LAND IN XANTHI RETURN PER ACRE PLANTS/ACRE S/N KGR 1 IPOFAES 1.000 150 2 GODJI BERY 1.500 200 3 BLUE BERY 1.000 200 4 ARONIA 1.800 200 5 CRATAIGOS 1.500 150 6 BLACK CURRANT 1.500 200 7 LONICERA COERULEA 1.200 150 8 BLACKBERRIES 1.500 200 9 ALOE 7.000 950 10 STEVIA 500 150 INSTALLATION COST FROM 6€ / PLANT TILL 9€ /PLANT BULK SALES FROM 5€/KGR TILL 10€ /KGR PACKED FROM 35€ /KGR ‐ 45€ / KGR INSTALLATION COST AND WORKING CAPITAL 1.000 ACRES Χ 200 PLANTS/ACRE = 200.000 PLANTS Χ 6€ /PLANT = 1.200.000 € INSTALLATION AND PACKING COST 1.500.000 € WORKING CAPITAL 7.500.000 € TOTAL INSTALLATION COST AND WORKING CAPITAL 10.200.000 € ΜΙΝΙΜUM RETURN 1.000 ACRES IN PACKED PRODUCT (1.000 ACR Χ 1.000 KG/ACR= 1.000.000 KG Χ 35€‐45€ / KG) =35.000.000€ TILL 45.000.000€ MINIMUM PROFIT FROM 45% TO 50%
B1 SOUTH EAST EUROPE ESTIMATED TISSUE PRODUCTS MARKETS IN EUROS / YEAR 2010 . SALES (KG/Y) POPULATION KGs/Y PER CAPITA 13,66 4,96 5,25 4,83 4,58 3,83 3,53 3,14 3,01 2,31 4,41 30,75% 23,01% 0,73% 7,43% 1,99% 2,93% 5,44% 3,03% 2,72% 21,97% 100% % KG / Y 147.000.000 24,4 110.000.000 8,0 3.500.000 7,5 35.500.000 7,5 9.500.000 7,2 14.000.000 6,0 26.000.000 5,3 14.500.000 5,0 13.000.000 4,6 105.000.000 2,5 478.000.000 06.03.2012 SOUTH EAST EUROPE ESTIMATED TISSUE PRODUCTS MARKETS IN EUROS / YEAR 2010 SALES €/Y POPULATION €/Y PER CAPITA 6,78 35,79% 24,22% 0,68% 7,49% 2,04% 2,99% 5,28% 3,13% 2,72% 15,65% % 100% SUPPLIERS BS SALES IN EUROS / Y 263.000.000 178.000.000 5.000.000 55.000.000 15.000.000 22.000.000 38.787.000 23.000.000 20.000.000 115.000.000 734.787.000 9,9% 20,5% 0,6% 6,8% 1,9% 3,4% 6,8% 4,3% 4,0% 41,9% 100% % POPULATION 2010 10.760.136 22.181.000 667.000 7.345.000 2.072.000 3.660.000 7.364.570 4.622.000 4.317.000 45.416.000 108.404.706 COUNTRY BOSNIA- HERZEGOVINA GREECE ROMANIΑ MONTENEGRO SERBIA FYROM ALBANIA BULGARIA MOLDAVIA S.W. UKRAINE TOTAL No 1 2 3 4 5 6 7 8 9 10
PRODUCTION, SALES AND DISTRIBUTION Belarus IN GREECE, BULGARIA, BALKANS AND S.E.EUROPE Warsaw Russia Poland THRACE PAPER MILL S.A. - Diana BELOVO PAPER MILL S.A. - Belana Kievo Czech Ukraine Republic Austria Slovakia Bbratislava Vienna Budapest Moldova Chisinau Hungary Russia Romania Croatia Belgrade Bosnia & Bucarest Herzegovina Sarajevo VARNA Serbia PLEVEN Montenegro Sofia BOURGAS Podgorica Bulgaria Pristina BELOVO PLOVTIV Skopje BELOVO FYROM ISTANBUL Tirana XANTHI Albania SALONIKA Ankara IOANNINA LARISA GREECE Turkey GREECE PATRA ATHENS Nicosia IRAKLIO INDEX: PRODUCTION PLANT BRANCH CAPITAL
B4 MAIN FIGURES FOR TISSUE MARKET IN GREECE Population: 10.760.136 (July 2011) GDP per capita: 29.600 $ (2010) Total tissue consumption ± 10%: 147.000 tons/year ( A+B+C ) Total tissue consumption ± 10%: 263.000.000 €/year ( A+B+C ) Tissue consumption per capita (average): 13,7 kg MAJOR TISSUE PAPER AND PRODUCTS PRODUCERS: Capacity t/year machine width 1. ATHENS PAPER MILL 60.000 510cm, 510cm 2. THRACE PAPER MILL 50.000 250cm, 250 cm 3. GEORGIA PACIFIC (SCA from 2012) 20.000 250cm suspended operation 2013 4. PIERIKI PAPER MILL (sofidel/ papyrus) 20.000 270cm 5. MAXI 20.000 270cm 6. KOMOTINIS PAPER MILL 10.000 215cm 7. PATRAS PAPER MILL 7.000 250cm 8. VIOCHARTIKI PAPER MILL 5.000 285cm suspended operation 2012 TOTAL CAPACITY: t/year 192.000 TOTAL PRODUCTION t/year 102.000 EXPORTS t/year 26.200 TO LOCAL CONVERTERS t/year 40.000 A) TO LOCAL CONSUMPTION t/year 35.800 A) TO LOCAL CONSUMPTION €/year 75.000.000 MAJOR CONVERTERS OF GOODS converted t/year 1. EUROCHARTIKI 17.000 2. PLASTICA ELLADOS 14.400 2.1. WEPA (3.600 ) 3. INTERTRADE 12.000 4. E.B.E.X (Mavromatis) 5.000 5. HELLENIC PAPER MILL( glaros) 4.800 ALL OTHERS 35.000 B) TOTAL CONVERTERS t/year 88.200 B) TOTAL CONVERTERS €/year 99.500.000 MAJOR IMPORTERS OF TOTAL GOODS sales t/year 1. ZEWA (SCA) 4.000 2. KLEENEX 3.000 ALL OTHERS 16.000 C) TOTAL IMPORTS t/year 23.000 C) TOTAL IMPORTS €/year 88.500.000
SUPERMARKET CHAINS & GROUPS A/A NAME OUTLETS ANNUAL HPP € 1 CARREFOUR (ΜΑRINOPOULOS) 838 36.000.000 2 LIDL 200 19.500.000 3 ΑΒ VASSILOPOULOS, DELHAIZE 19.200.000 182 4 ELINIKI DIATROFI+ENOSI 1639 15.600.000 5 SKLAVENITIS 13.600.000 75 6 ELOMAS 12.600.000 737 7 VERO+CHALGIADAKIS+ASTIR 11.200.000 205 8 MACRO 8.300.000 9 9 ATLANTIC (sold in various s/m chains) 8.100.000 610 10 MASOUTIS 7.950.000 185 11 ELETA 649 7.700.000 12 PENTE SA+ARGO 6.800.000 136 13 ASPIDA 225 6.500.000 14 METRO 6.400.000 77 15 ASTERAS 4.050.000 212 16 ΜΑΡΚΕΤ ΙΝ 1.550.000 83 17 KIPSELI 1.100.000 20 18 SIMETRO 750.000 39 TOTAL OF CHAINS & GROUPS 6.121 186.900.000 19 WHOLESALERS 704 47.500.000 20 PUBLIC SECTOR / TENDERS 4.209 15.000.000 21 OWN CONSUMPTION 51.469 13.600.000 GRAND TOTAL 62.503 263.000.000
B4 THRACE PAPER MILL S.A. UNCONVERTED EXPORT COUNTRIES LIST 01.01.2008-30.06.2011 A/A COUNTRY 1 BULGARIA 2 TURKEY 3 FYROM 4 CZECH REP 5 ROMANIA 6 ALBANIA 7 U.K. 8 RUSSIA 9 SLOVAKIA 10 MALTA 11 POLAND 12 HUNGARY 13 ISRAEL 14 CYPRUS 15 SWITZERLAND 16 SERBIA 17 EGYPT 18 ESTONIA 19 CROATIA 20 KOSOVO 21 BOSNIA 22 NETHERLANDS 23 GERMANY 24 AUSTRALIA 25 BELGIUM
B4 THRACE PAPER MILL S.A. CONVERTED EXPORT COUNTRIES LIST 01.01.2008-30.06.2011 A/A COUNTRY 1 BULGARIA 2 TURKEY 3 FYROM 4 CZECH REP 5 ROMANIA 6 ALBANIA 7 MALTA 8 CYPRUS 9 SWITZERLAND 10 SERBIA 11 KOSOVO 12 AUSTRALIA 13 BELGIUM
B6 Number of branches, fleet size and sales team size Thrace Paper Mill distributes its products through 7 branches and many distributors. These branches are located in Athens, Salonika, Xanthi, Ioannina, Larisa, Patra and Irakleio covering the whole area of Greece. Company’s fleet consists of 103 cars and trucks. Company’s also using rented trucks for supply and distribution. Company’s sales team consists of 42 people, 2 of which execute special sales and jobs.
B7
OLD OFFICES NEW OFFICES
GUEST HOUSE
- XANTHI - GREECE + BRANCHES THRACE PAPER MILL GREECE XANTHI BRANCH THRACE PAPER MILL - DIANA
AND ATHENS DISTRIBUTION CENTER HEAD OFFICE
AND ATHENS DISTRIBUTION CENTER HEAD OFFICE
THRACE PAPER MILL’S BRANCHES THRACE PAPER MILL THESSALONIKI BRANCH LAND: 14.161m² GROUND FLOOR AREA: 3.313m² TOTAL FLOOR AREA : 3.313m²
THRACE PAPER MILL’S BRANCHES THRACE PAPER MILL HRAKLEIO BRANCH LAND: 7.000m² GROUND FLOOR AREA: 2.774,40m² TOTAL FLOOR AREA : 2.774,40m²
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