Greek glass products wholesaler Yalco SA has acquired the remaining 50% of household appliances importer Velkon; Yalco already owned the other 50%. Following the acquisition, it plans to absorb Velkon…
Greek glass products wholesaler Yalco SA has acquired the remaining 50% of household appliances importer Velkon; Yalco already owned the other 50%. Following the acquisition, it plans to absorb Velkon“s activities, thus boosting its distribution network and achieving economies of scale. It also expects its turnover to increase by Dr 1.5 billion and pre-tax profits by Dr 150 million. The company forecasts 1996 turnover of Dr 7 billion and profits of over Dr 750 million.