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EBRD supports Neotex’s growth and expansion

By Olga Aristeidou

Greek company at the forefront of innovation and renovation wave


Greek company at the forefront of innovation and renovation wave

Eco-friendly products are growing in popularity and businesses around the world are looking for ways to stay at the forefront of innovation, offering affordable, greener and better-quality products to their customers.

This is not an easy task when it comes to building and construction materials, which are necessary for renovations. The European Union’s “renovation wave” strategy – which aims to double annual renovation rates in the next 10 years – plays a key role in upgrading existing buildings and making them more energy efficient, and it will be an important element in achieving a climate-neutral European Union by 2050.

Neotex is one of the businesses in this sector that are constantly improving their products and services. Through its Advice for Small Businesses programme in Greece, the European Bank for Reconstruction and Development (EBRD), with support from the Hellenic Republic, has helped Neotex grow and become even more competitive.

Established in 1959 in Greece, today the company is a leading manufacturer, with a presence in  70 countries in the fields of liquid waterproofing, resinous flooring, and energy saving and repairing solutions. The company has long-term relationships with its partners, and is continuously expanding its operations to diverse markets, in Europe, Africa, Asia and America.

“We are conscious of our own company sustainable footprint, that of our products and the sector as a whole. Our R&D department is particularly concerned with making our products more user- and environment-friendly,” says Alexandros Katraouzos, Managing Director of Neotex and Vice President of the Hellenic Association of Chemical Industries.

The Neotex team decided to get in touch with one of the EBRD’s international knowledge experts to scale up the company’s holistic approach.

“It doesn’t make sense for a company to grow only in terms of facilities, equipment and spaces. The organisational chart must also grow and modernise; the skills of the employees must evolve. The Bank’s consultant also recognised this, and as a result we shifted our attention to performance management and monitoring our progress. Now we have stronger sales and operations departments, and we focus on data management and digitilisation,” Mr Katraouzos explains.

“The international aspect of a project like this and the global background of the advisors serve to further internationalise a company such as ours, giving it a broader growth mindset, which also helps with any further global expansion,” he continues.

The construction sector was hit hard during Greece’s financial crisis and the Covid-19 pandemic. But now, demand has increased, and the construction of residential and commercial buildings can be seen all over the country and beyond. Neotex is contributing to making this wave more sustainable, by embracing the twin green and digital transition, and by aiming higher with the EBRD’s support.

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