A success story of more than 85 years
Viohalco started more than 85 years ago as a family business and is now a leading Belgium based holding company of leading metal processing companies across Europe. Viohalco subsidiaries focus on technological advancement and R&D&Ι and specialise in the manufacture of aluminium, copper, cables, steel and steel pipes product solutions.
The Company was incorporated in 1937 under the name Hellenic Copper Industry S.A.
A listing on the Athens Stock Exchange was obtained in 1947.
It was a period of intensive investments in new machinery. A state-of the-art aluminium rolling mill was introduced, paving the way for the launch of a new leading aluminium rolled products manufacturer, Elval. The Company was renamed Viohalco-Hellenic Copper and Aluminium Industry S.A.
Significant corporate expansion included the launch of the steel producing segment, cable operations, sanitary ware and tile production. A holding company structure was adopted to secure full independence and flexibility at subsidiary level.
A series of further new companies were founded, including aluminium profiles company Etem S.A. and Elval S.A., a spin-off from Viohalco Aluminium.
The companies were restructured through multiple spin-offs designed to create a cohesive corporate culture across all production units.
Major subsidiaries obtained listings on the Athens Stock Exchange, followed by a capital raising at Viohalco level to finance the swift expansion and consolidation of subsidiaries in Greece and abroad.
By 2002, Viohalco companies' portfolio included a series of promising major investments including Bridgnorth Aluminium Ltd (United Kingdom), Stomana Industry S.A. (Bulgaria), Sofia Med S.A. (Bulgaria), Icme Ecab S.A. (Romania) and Corinth Pipeworks S.A. (Greece).
Subsidiary Hellenic Cables S.A. acquired Fulgor S.A., increasing substantially its cables production capacity and expanding its product portfolio into medium and high voltage submarine cables.
In November 2013, the corporate transformation (merger) by absorption of the Greek company Viohalco-Hellenic Copper and Aluminium Industry S.A. and the Belgian company Cofidin S.A. by the Belgian company Viohalco S.A., took effect.
Primary listing and trading on Euronext Brussels Exchange of Viohalco S.A. shares.
- In February 2014, Viohalco S.A. obtained secondary listing of its shares on the Athens Stock Exchange.
- In November 2014, Elval S.A. merged with Etem S.A, through absorption of the latter by the former.
- In July 2015, the cross-border merger by absorption of the Greek company Sidenor Holdings by Viohalco S.A. was concluded.
- In September 2015, the spin-off of the aluminium rolling sector of Elval, (renamed Elval Holdings) took place. The aluminium rolling operations were absorbed by Elval's subsidiary Symetal (renamed Elval Hellenic Aluminium Industry S.A.).
- In December 2015, the cross-border merger by absorption of Elval Holdings, Alcomet, Diatour and the Luxembourg company Eufina by Viohalco was decided.
- In February 2016, the cross-border merger by absorption of the Greek companies Elval Holdings, Alcomet, Diatour and the Luxembourg company Eufina by Viohalco S.A. was concluded.
- In May 2016, the spin-off of the pipes and hollow section industrial and trading sector of Corinth Pipeworks S.A. Pipe Industry and Real Estate and their contribution to its 100% subsidiary E.Vi.Ke S.A. Investment, Industrial and Metals Trading, Real Estate and Construction Enterprises S.A., was concluded. Consequent change of the listed Company's name to Corinth Pipeworks Holdings S.A. in July 2016.
- In July 2016, the completion of the internal restructuring initiated in 2015, with the spin-off of the aluminium foil sector, which is now under Symetal S.A. a subsidiary of Elval S.A.
- In July 2016, the spin-off of the industrial and part of commercial sector of Hellenic Cables S.A. Hellenic Cable Industry S.A. and their contribution to its 100% subsidiary “Symmep S.A. Participations & Investments S.A., was concluded. Consequent change of the listed Company's name to Hellenic Cables Holdings S.A. in July 2016.
- In December 2016, Cenergy Holdings S.A., a Belgian holding company obtains listing on Euronext Brussels and on Athens Stock Exchange, as a result of the completion of the cross-border merger by absorption by Cenergy Holdings of the Greek listed companies Corinth Pipeworks Holdings S.A. and Hellenic Cables S.A. Holdings Société Anonyme.
- In December 2017, the merger by absorption of non-listed Elval by Athens Stock Exchange listed Halcor is concluded, while the latter is renamed to ElvalHalcor Hellenic Copper and Aluminium Industry S.A. (ElvalHalcor).
- In February 2018, the shares of ElvalHalcor commenced trading on the Athens Stock Exchange.
- In April 2018, ElvalHalcor’s copper tubes division acquired the assets of Epirus Metalworks Industry S.A. with the aim to re-activate the production and, through facilitating the international commercial network of ElvalHalcor, to transform the unit into an exporting one.
- In June 2018, after securing regulatory approval, ElvalHalcor’s copper tubes division acquired 50% of the Netherlands-based NedZink B.V., entering into a joint venture with the purpose of further developing production of titanium zinc.
- In August 2019, ElvalHalcor completed the transformation of the branch in Pogoni-Ioannina, manufacturing plant of all types of coin blanks and rings into a newly founded company under the trade name “Epirus Metalworks Societe Anonyme” (Epirus Metalworks).
- In October 2019, Noval Property was established as Real Estate Investment Company (REIC). Noval Property was formed through the merger of Noval SA and Vet SA, in parallel and simultaneously with in kind contribution of properties from other entities affiliated to the merged companies.
New four-stand tandem aluminium hot rolling-mill at Elval’s (the Aluminium Rolling Division of ElvalHalcor) Oinofyta-Viotia plant was completed and commenced operations.
- Successful completion of the record-breaking Crete-Peloponnese interconnection, one of the most demanding projects ever completed worldwide (the longest cable HVAC approx. 178 Km) by Hellenic Cables.
- Issuance of a EUR 250 million Bond (listed on Athens Stock Exchange) by ElvalHalcor on November 2021.
- Issuance of a EUR 120 million Green Bond (listed on Athens Stock Exchange) by Noval Property on December 2021.
Initiation of operation of the new six-high cold rolling mill at the Elval factory in Oinofyta.