SUMEC signs Strategic Cooperation Agreement with Attica Finance


Phono Solar's parent company, the SUMEC Group, one of the largest import and export organisations in China, is pleased to announce 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.

Further expanding the cooperation with Attica Finance, SUMEC 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.

SUMEC’s representatives also met with the president of Attica Bank and the Consignment Deposits and Loans Fund, both shareholders of Attica Finance and co-investors in the abovementioned fund.

In addition, SUMEC Marine had various successful meetings with ship owners exploring the possibilities of cooperation in building new vessels.

Following the successful business meetings, a formal dinner was organised by SUMEC HELLAS hosted by its business representative, Mr Kostas A. Koumantos, at the luxurious hotel, Astir Pallas, in Vouliagmeni, southern Athens. All companies attended and speeches were given by the President of SUMEC, Mr. Cai Jibo, the deputy CEO of Attica Finance, Mr. Christos Retsas, the Greek Deputy Development Minister, Mr. Notis Mitarakis and SUMEC HELLAS Business representative Mr. Kostas A. Koumantos.

About Attica Finance

Attica Finance S.A. is a subsidiary of Attica Bank Group, and is its investment arm. It was founded in 2001 but it took its current form in 2010.

Attica Bank is a healthy medium-sized Greek bank. The main shareholder is the Common Fund of Self Employed (Engineers, Attorneys, Doctors, Pharmacists, etc.) with 51%. Attica Bank has the strongest capital base in Greece and was successfully recapitalised solely by private investors.

The main areas of activity of Attica Finance are projects in Local Authorities, Renewable Energy Sources and Investment Banking. In addition, the Company aims to establish and manage investment funds which will invest in these areas.