AVAX

Last updated
AVAX
Company type Private
IndustryConstruction, Concessions, Energy
Founded1986
HeadquartersAthens, Greece
Area served
Europe, Middle East, Africa
Key people
  • Christos Ioannou
  • Konstantinos Mitzalis
Website https://avax.gr/en/

AVAX Group is one of the oldest and largest construction groups in Greece. It is mainly active in the field of constructions, concessions and real estate development, in Greece and international markets. [1] AVAX Group has been listed on the Athens Stock Exchange, since 1994 [2] and the projects it has undertaken to execute, currently amount to 2.2 billion Euros. Some prominent projects of the group are Attiki Odos, Athens Metro, Rio Antirrio Bridge and The Mall Athens. [3]

Contents

History

AVAX Group traces its origins back to 1941, with the establishment of J&P Overseas. In 1986, AVAX S.A. was founded, while in 1993, J&P HELLAS S.A. began operating in Greece. AVAX S.A. has been listed on the Athens Stock Exchange, since 1994. In 2002, J&P-AVAX S.A. was created by the merger of J&P HELLAS S.A. and AVAX S.A.

Foundations of Subsidiaries - Acquisitions - Mergers

2000 -  AVAX S.A. acquired ETETH S.A., established in 1961
2002 - J&P-AVAX S.A. founded AUTECO, active in the vehicle technical inspection sector
2007 - J&P-AVAX S.A. entered into a strategic and shareholding partnership with the construction company ATHENA S.A.
2007 - MONDO TRAVEL S.A. was established, operating in the field of organised tourist services
2008 - TASK J&P-AVAX S.A. was founded, operating in facilities management
2017 - Completion of E-Construction S.A. and PROET SA absorption, by J&P-AVAX S.A. [4]
2018 - AVAX S.A. announced the completion of the absorption of its 100% subsidiary ATHENA S.A. [5]
2019 - Change of corporate name to "AVAX SOCIETE ANONYME – CONTRACTING – TOURISTIC – COMMERCIAL – INDUSTRIAL – BUILDING MATERIALS AND EQUIPMENT". The distinctive title was also changed from "J&P-AVAX S.A." to "AVAX S.A." and in parallel the corporate logo [6]
2019 - Completion of absorption of J&P Energy & Industrial Projects S.A. by AVAX S.A. [7]

Shareholders Structure

SHAREHOLDERSSHARE
Mitzalis Konstantinos16,31%
JCGH Ltd14,33%
CSME Holdings Ltd11,28%
MMLN 12 Ltd8,53%
Savetrans Holdings Ltd7,83%
Honeysuckle Properties Ltd7,71%
Other Shareholders <5%34,00%

Source: [8]

Group Companies

Closure

Before going into liquidation, the company disposed of its stake in Queen Alia Airport in Amman, which was expected to generate more than US$100 mln in revenue.

J&P Overseas was shut down with the company accumulating damages of around US$750 mln.

The problems at J&P Overseas emerged in 2017, sending the company into liquidation, after banks rejected its restructuring proposal. [9]

Notable completed projects

J&P(O)Ltd's most notable completed projects include:


2001-2006 Rehabilitation road Woldiya -Addis Abeba (400 km) Ethiopia

Global International Contractor Rank

In 2009 the journal Engineering News-Record ranked J&P(O) Ltd as the 36th Largest International Contractor globally. [12]

Related Research Articles

This article is about transport in Oman.

<span class="mw-page-title-main">Highways in Greece</span>

The National Roads and Motorways in Greece constitute the main road network of the country. These two types of roads are distinct in terms of their construction specifications. Their main difference is that motorways adhere to higher quality construction standards than National Roads.

<span class="mw-page-title-main">Athens Metro</span> Rapid transit railway in Athens, Greece

The Athens Metro is a rapid transit system serving the Athens urban area in Greece. Line 1 opened as a single-track conventional steam railway in 1869 and was electrified in 1904. Beginning in 1991, Elliniko Metro S.A. constructed and extended Lines 2 and 3. It has significantly changed Athens by providing a much-needed solution to the city's traffic and air pollution problem, as well as revitalising many of the areas it serves. Extensions of existing lines are under development or tender, like the Line 2 extension to Ilion where tender started in 2023, as well as a new Line 4, whose central section began construction in October 2021. The Athens Metro is actively connected with the other means of public transport, such as buses, trolleys, the Athens Tram and the Athens Suburban Railway. The Athens Metro is hailed for its modernity, and many of its stations feature works of art, exhibitions and displays of the archaeological remains found during its construction. Photography and video-taking is permitted across the whole network and street photographers often work in Athens Metro. This was the only metro system in Greece, before the Thessaloniki Metro began operations on 30th November 2024.

<span class="mw-page-title-main">Rio–Antirrio Bridge</span> Bridge

The Rio–Antirrio Bridge, officially the Charilaos Trikoupis Bridge, is one of the world's longest multi-span cable-stayed bridges and longest of the fully suspended type. It crosses the Gulf of Corinth near Patras, linking the town of Rio on the Peloponnese peninsula to Antirrio on mainland Greece by road. It opened one day before the Athens 2004 Summer Olympics, on 12 August 2004, and was used to transport the Olympic flame.

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<span class="mw-page-title-main">A5 motorway (Greece)</span> Controlled-access highway

The A5 motorway, also known as the Ionia Odos, is a controlled-access highway in western Greece, which starts at Ioannina and it follows the western coastline of mainland Greece down to the Gulf of Corinth. At Rio, it crosses the gulf via the Rio–Antirrio bridge and is connected with the A8 at an interchange near Patras. The future, currently under construction, Patras - Pyrgos motorway is typically part of the A5 motorway and will eventually extend to Tsakona near Kalamata. Another extension north to Kakavia at the border with Albania, is in the planning stage.

<span class="mw-page-title-main">METKA ATE</span>

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Olympia Odos is a toll motorway system on the Peloponnese in Greece. Starting from Eleusis in the Athens metropolitan area, the Olympia Odos motorways follow the Gulf of Corinth to the Rio–Antirrio bridge and the city of Patras, and along the Ionian Sea coastline, in future down to Tsakona in the southwestern Peloponnese where it will intersect with the A7 motorway.

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References

  1. "AVAX.GR | Avax S.A. Company Profile & Executives - WSJ". www.wsj.com. Retrieved 2023-04-06.
  2. "Company - athexgroup.gr". www.athexgroup.gr. Retrieved 2023-04-06.
  3. Newsroom, Ypodomes com (2023-02-22). "Flagship infrastructure projects & impressive financial results ahead for AVAX Group". Ypodomes.com (in Greek). Retrieved 2023-04-06.{{cite web}}: |last= has generic name (help)
  4. "Conclusion of absorption of E-Construction SA and PROET SA by J&P-AVAX SA". Avax. Retrieved 2023-05-19.
  5. "Conclusion of absorption of ATHENA SA by J&P-AVAX". Avax. Retrieved 2023-05-19.
  6. Roussanoglou, Nikos (2019-03-27). "Avax sets independent course with name change | eKathimerini.com". www.ekathimerini.com. Retrieved 2023-05-19.
  7. "10/12/2019 Conclusion of absorption of J&P Energy SA by AVAX SA". Avax. Retrieved 2023-05-19.
  8. "SHARE". Avax. Retrieved 2023-06-19.
  9. "JP Overseas falls". Forbes .
  10. "InterContinental Hotels & Resorts | AL BUSTAN PALACE MUSCAT | Hotel Overview". Archived from the original on 2010-03-24. Retrieved 2010-04-08.
  11. "The Pearl - Qatar". Archived from the original on 2010-01-25. Retrieved 2010-04-09.
  12. "The 2015 Top 250 International Contractors". enr.construction.com.