AVAX

Last updated
AVAX
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
2010 - VOLTERRA S.A. was founded (Shareholders: 50% SORGENIA SpA Group and 50% J&P-AVAX S.A.)
2017 - Completion of E-Construction S.A. and PROET SA absorption, by J&P-AVAX S.A. [4]
2017 - Acquisition of the 50% equity stake in Volterra, by J&P-ΑVAX Group, previously owned by Sorgenia Group [5]
2018 - AVAX S.A. announced the completion of the absorption of its 100% subsidiary ATHENA S.A. [6]
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 [7]
2019 - Completion of absorption of J&P Energy & Industrial Projects S.A. by AVAX S.A. [8]

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: [9]

Group Management

Source: [10]

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. [11]

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. [14]

Related Research Articles

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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.
  4. "Conclusion of absorption of E-Construction SA and PROET SA by J&P-AVAX SA". Avax. Retrieved 2023-05-19.
  5. "Acquisition of Sorgenia's equity stake in Volterra". Avax. Retrieved 2023-05-19.
  6. "Conclusion of absorption of ATHENA SA by J&P-AVAX". Avax. Retrieved 2023-05-19.
  7. Roussanoglou, Nikos (2019-03-27). "Avax sets independent course with name change | eKathimerini.com". www.ekathimerini.com. Retrieved 2023-05-19.
  8. "10/12/2019 Conclusion of absorption of J&P Energy SA by AVAX SA". Avax. Retrieved 2023-05-19.
  9. "SHARE". Avax. Retrieved 2023-06-19.
  10. "BOARD OF DIRECTORS". Avax. Retrieved 2023-06-19.
  11. "JP Overseas falls". Forbes .
  12. "InterContinental Hotels & Resorts | AL BUSTAN PALACE MUSCAT | Hotel Overview". Archived from the original on 2010-03-24. Retrieved 2010-04-08.
  13. "The Pearl - Qatar". Archived from the original on 2010-01-25. Retrieved 2010-04-09.
  14. "The 2015 Top 250 International Contractors". enr.construction.com.