Maillis Strapping Systems

History of M.J.Maillis Group

M. J. Maillis group is manufacturing and distributing complete secondary packaging systems, machines & packaging materials in Strapping, Wrapping and Case Handling including also hand strapping tools. The Group is headquartered in Athens, Greece and operates in 18 countries throughout Europe, North America and Asia.

Maillis, founded in 1968, has evolved from a privately-owned steel strapping producer into a multinational industrial corporation through its corporate strategies of superior value, vertically-integrated production, organic growth and acquisitive expansion.

For more information on the M.J. Maillis Group, please visit their website: www.maillis.com

Founding

1968-1997

  • M.J. Maillis was established as a LLC and changed into a Societe Anonyme, as producer of steel strapping (1968)
  • Shares listed in the Parallel Market of the ASE and the first two subsidiaries are established in same year (1994)
  • First subsidiary established in Greece (1995)
  • Shares reclassified from Parallel to Main Market of the ASE (1996)
  • New subsidiary established in Poland (1997)
  • Completed investment plan two years earlier than originally scheduled (1997)
  • Turnover grew from a few hundred thousand to 40 million by the end of this phase

Initial Growth

1998-2003

  • Strategic expansion through series of mergers, acquisitions and joint ventures in the following countries:
    Czech Republic, Spain, Albania, England, France, United States, Hungary, Italy, Austria, Germany, Sweden Canada, Belgium, Netherlands and Serbia.
  • Considerable investment efforts to modernize operations across Europe
  • New shares issued through subsidiary M.J. Maillis Romania S.A. (2001)
  • Completion of new integrated information system ‘SAP’ (2001)
  • Ranked fastest growing company in Greece and 19th overall in Europe (2003)
  • Brought staff numbers up from 164 to 1,976 people within five years
  • The Group reached the 300 million mark in turnover

Expansion

2004-2007

  • Achieved goal for consolidated sales organic growth of 15% and improvement in cash flow (2004)
  • Solidified organizational structure and reorganized sales groups (2004)
  • Announced purchase of building facilities in South Carolina and plan for further growth and penetration in North American market (2004)
  • Additional European expansion and successful first phase of North American investment (2005)
  • Refinanced existing long term debt with successful US private bond placement (2005)
  • Joint venture in India (2006)
  • Restructuring actions to reduce cost and improve profitability (2007)
  • Turnover hit historical records of 370 million+ during 2005-2008

Reorganization

2008-2011

  • Restructuring and recovery plan laid out
  • Restore profitability above industry norms
  • Strengthen management team
  • Maintain good corporate citizenship
  • Negotiation with key lenders for restructuring of existing debt
  • Continued debt and operational restructuring
  • Current challenges
  • Debt reduction
  • Non-core disposals
  • Operational restructuring
  • Production rationalization
  • Developed a value added platform for blue chip multinationals
  • As a result of the economic crisis turnover steaded at 260-280 million level

Future Growth

2012+

  • Competitive positioning
  • Fine tune and capitalize on European model
  • Emerging markets expansion
  • Improved financial performance
  • Invest in service, retrofit and refurbishment
  • Revamp and invest in retail model to increase sales