Greece is being hit by political turmoil as it struggles under the effects of the economic crisis. However, for many Greek companies based in Poland, this year has been business as usual.
There are currently about 40 companies with Greek capital active in the Polish market, according to figures from the Embassy of Greece in Warsaw. Greek-owned companies have invested more than €1.4 billion and created a total of 11,000 jobs in Poland, the country’s ambassador to Poland, Gabriel Coptsidis, said in a statement earlier this year.
Mellon Group, a company headquartered in Athens specializing in IT services and sales for financial institutions, telecommunications firms, and companies in the retail sector, established itself in the Polish market almost six years ago. A growing Polish client base, which includes lenders such as PKO Bank Polski, Polbank EFG, and mBank, helped Mellon Poland make it in to the top 100 companies of Europe’s 500 fastest growing companies in 2010. Europe’s 500, which creates the ranking, is an association of fast growing owner-managed companies in Europe.
“This year is better than the previous one, and we have not been affected,” said Grigorios Kotoulas, General Manager of Mellon Poland.
“However, we see in the market that there is a slowdown, but not a recession. We are making plans accordingly but none that … will affect our forecast for 2012,” he added.
Lefteris Maroulis, General Director of sports betting firm Totolotek (owned by Greek company Intralot), agrees that business has been going well in Poland.
(source: Warsaw Business Journal)
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