Iktinos Hellas S.A.: New Quarries, Expanding Markets, and Technological Innovation Drive Growth

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    Iktinos, leading Greek marble company, is strengthening its position as a global player by investing in new quarries, expanding into new markets, and adopting innovative technology. The company is targeting revenue of €32 million in 2024, despite challenging market conditions.

    New Markets and Increased Production

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    Iktinos is offsetting a decline in sales to China by tripling exports to India, Egypt, and Tunisia. The company is also exploring new markets in South America and Southeast Asia.

    To meet the growing demand for marble, Iktinos has opened four new quarries in Drama and Livadia. These quarries will produce 14,000 tons of white dolomitic marble, 4,000 tons of gray marble, and 4,000 tons of beige marble per year.

    Technological Innovation

    Iktinos is committed to sustainable mining practices and is using new technologies to reduce energy consumption and improve efficiency. The company has implemented INSPIRER, a marble quarry monitoring system that uses sensors to collect data on the location, operation, and fuel consumption of machinery. This data is then used to generate statistics and create predictions about the performance and maintenance of the machinery.

    Iktinos is also exploring the use of renewable energy sources, such as wind power, to further reduce its operating costs. The company already has wind farms in operation, and it is considering expanding its renewable energy portfolio.

    Despite the challenges in the market, Iktinos is optimistic about its future. The company is well-positioned for growth with its strong brand, diversified product portfolio, and experienced management team.