Although German Chancellor Angela Merkel has been targeting the Greek economy in recent months and despite some in Greece promoting a boycott of German products, the Dromeas group is following a different path.
The chairman and CEO of the furniture company, Thanasis Papapanagiotou, as part of its collaboration with the European Union for exclusive office furniture supply, has also focused on the German market. Dromeas operates there through agreements with the marine engine company MTU and manufactures aluminum parts and molds for Mercedes, a partnership that brings the Greek company nearly 1 million euros annually.
Dromeas is actively expanding abroad to withstand the challenges of the negative economic climate, and the German market holds significant potential if markets return to normal levels. Its investments in the Balkans and Eastern Europe have borne fruit, balancing out the domestic crisis in the furniture market. Its foreign operations helped the company return to profitability, reaching 488,000 euros in profits compared to losses of 209,000 euros in 2008.
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