Splitting of CYCLON Hellas SA into two sectors (fuel and lubricants), the absorption of fuel industry from AVINOIL S.A and contribution of lubricant industry section in the newly established company LPC S.A.
Founding in Serbia the company under the name “CYCLON LUBRICANTS D.O.O “based in Belgrade which is engaged in marketing of lubricants in Serbia and the former Yugoslavia.
Founding of the Libyan company “DERAA AL AFRIQUE ENVIRONMENTAL S.A.” with the participation of LPC S.A with 60%.
Founding of CYROM PETROTRADING CO. SRL, in which subsidiary ARCELIA HOLDINGS LTD. holds 5% and BULVARIA AUTOMOTIVE PRODUCTS LTD. holds 95%. The company is engaged in marketing lubricants in Romania.
Acquisition of “BULVARIA AUTOMOTIVE PRODUCTS LTD”, a company in Bulgaria engaged in marketing lubricants in Bulgaria.
Buyout of liquid fuel facility at Neo Ikonio, Perama, by CYCLON Hellas S.A.
Company’s entry in the ASE with a change of corporate name to CYCLON Hellas SA.
Launch of LPC HELLAS activities in fuel sales and the creation of a network of petrol stations under the CYCLON brand.
Reconstruction of production units of L.P.C resulting in the expansion of production capacity of the company from 25,000 to 40,000 tons / year.
Completion of new LPC HELLAS facility that produces high-viscosity lubricants (bright stocks). Thus, the company becomes the only one in Greece to produce this particular oil distillate. ISO 9002 certification received from BUREAU VERITAS QUALITY INTERNATIONAL.
LPC HELLAS launches its export activities
Development and sale for the first time in the Greek market, of the lubricants produced by LPC with the distinct brand name “Cyclon”. A national LPC HELLAS sales network is established.
Renaming of VAROIL to “INDUSTRIAL PROCESSING COMPANY LUBRICANT AND PETROLEUM- L.P.C. HELLAS”.
Startup of the new blending plant of VAROIL. The company acquires the ability to produce finished lubricants. At the same time, it expands its activities in the paraffins marketing area.
The Company is renamed to “VAROIL LUBRICANT AND OIL MANUFACTURING AND TRADE S.A.”
Founding of base oil refinery plant. The refinery was established according to state-of-the-art construction standards, with the expertise of KTI Netherlands, the Institut Francais du Petrol (IFR) and the guidance of the Italian company TECHNIPETROL.
Founding of “EKVE LUBRICANT AND OIL MANUFACTURING AND TRADE S.A.”