The management of Kleemann Hellas inaugurated today the facilities of Kleemann Liftovi, its subsidiary in Serbia. The new company, with headquarters in Belgrade, has for the present a commercial activity, though the possibility is considered to also develop a manufacturing activity in the future. The company in fact is aiming at enabling Kleemann to expand commercially to new markets, taking advantage of special economic relations, such as the favorable tariff treatment maintained by Serbia and markets as the ones of Russia, Ukraine and all the Balkan countries. An indication of the development prospects of Kleemann Liftovi is the significant increase of its sales this year compared to last year. Particularly, its turnover in 2005 - when the company was founded- amounted to 860.000 Euros, whereas in the current fiscal year it is expected to reach 1,3 million Euros. It is noted that the facilities of the Serbian company - an investment of approximately 750.000 Euros- are located on a privately owned real estate of 10.000 sq.m. The building facilities expand to 1.300 sq.m, which include manufacturing facilities, a show room and administration offices. The participation of the publicly traded company of North Greece in the share capital of Kleemann Liftovi amounts to 60%, whereas the Serbian company Grossi has a share of 40%. It is noted that the inauguration of KLEEMANN Liftovi will take place at the same time with the participation of KLEEMANN in the international fair "Building and Construction 2006". Within the framework of the inauguration, the president of Kleemann, Nikolaos Koukountzos, underlined that this investment signals further internationalization of the group, entering into new markets and obtaining internationally an always-growing market share. The international profile of the group is enhanced by the promotion of new products locally and internationally, and the development of distribution channels in Europe and the Middle East through new subsidiaries and distributors. Particularly, according to the management of Kleemann, for the biennium 2006-2007 new products are being promoted, such as Machine room-less lifts, Earthquake-resistant hydraulic elevators and Home lifts. The dynamic expansion of the group locally and internationally is reflected at the positive economic figures of the year 2005 on one hand, and the estimates for the year 2006, on the other. Regarding the current fiscal year, the management of Kleemann Hellas is expecting consolidated sales of approximately 81,10 million euros, against 79,25 million euros in 2005 and 10,4 million euros in net earnings before taxes, against 9,79 million euros in 2005. Kleemann, with the subsidiaries Klefer, Kleemann Asansοr, Kleemann Liftovi constitute a powerful group of more than 760 employees and industrial buildings that exceed 55.000 s.q. m. Kleemann is one of the largest independent lift manufacturers in Europe and internationally, produces over 12.000 elevator systems yearly, 4% of the global market and enjoys the leading position in the continuously developing Greek market, having 70% of total installed units and 46% in total value. Sales of the group outside Greece (30% in 2001 and 42,3% in 2005) are performed on a global scale, having as main markets the UK, Ireland, Russia, Belgium, Yugoslavia, Turkey, Germany, the Netherlands and Cyprus.