ELTRAK and AUTOHELLAS partnership

On the 14th of February 2005, ELTRAK SA and AUTOHELLAS SA (both listed in the Athens Stock Exchange) signed an agreement for the participation of AUTOHELLAS by 50% in ELTREKKA, a subsidiary of ELTRAK Group.

ELTREKKA is specialised in importing, trading and distributing car spare parts of well known international brands to the greek market. It is noted that ELTREKKA is one the leaders in its sector with a turnover of over €21 millions.

Given that AUTOHELLAS operates the largest private fleet of 23,000 cars in Greece and owns maintenance and repair facilities for their service, it is obvious the arising prospects for synergies between the two companies.

The participation of AUTOHELLAS in ELTREKKA will be completed after the approval from the Competition Committee. Upon completion of the deal a raise of capital will follow with both partners participating equally.