History

History of the Group

1990: The Group’s beginnings: the establishment of Cyfield Development Public Ltd, a company specializing in land development and now the holding company of the whole Group.

 

1996: In line with its vertical integration strategy, the Group established Curio Trading Ltd, a company that imports and markets building materials and sanitary ware. Today, Curio is a stand-alone company that supplies both the Group and other companies with roof and floor tiles, parquet flooring, and high quality European sanitary ware.

 

1997: Eurocyfield A.E. was established in Greece using the same successful strategy of the mother company, designing and selling quality residential apartment and commercial buildings, thus creating a new market in Greece. Successful completion of dozens of projects led to broader interest which now involves construction of schools and other public projects.

 

2002: In a strategic move to diversify its activities into infrastructure construction projects, the Group acquired a majority stake (70%) in the public company NEMESIS Construction Plc, and created Nemesis Development Ltd.

2003: To streamline its operation and maintain full control over the quality and completion of each project, the Group expanded into manufacturing and trading with the establishment or acquisition of a number of subsidiary companies dealing in the production and trading of asphalt, concrete, precast concrete products, aggregates and other materials and related activities. This expansion process began with the establishment of Nemesis Ready Mixed Concrete Ltd and Nemesis Asphalt Ltd, strategically securing the supply of the two main materials of construction and infrastructure companies.

 

2004: A quarry company, Ch. Mylonas Mitsero Quarries Ltd was acquired together with the corresponding mining privilege.

 

2005: Two more companies were established, Nemesis Precast Products Ltd and Nemesis Transportation Ltd.

 

2006: The creation of Nemesis Asphalt Petroleum Ltd completed the circle of material supplies with the importation and storage of bitumen, the key ingredient for the production of asphalt.

2008: In an effort to expand the Group’s geographical market share and gain important synergies, a number of strategic alliances were formed with other construction companies leading in the inclusion to the Group of a second quarry, Medcon Quarries Ltd, the formation of two new asphalt plants, Medcon-Nemesis Asphalt Ltd and Medcon-Kythreotis-Nemesis Asphalt Ltd.

 

2013: Following some years of consolidation, the Group expands its contracting activities to Greece, with the awarding of the PAIANIA PROJECT

 

2014: The Group establishes its own office in Cairo, Egypt in a strategic move to expand its operations to this important neighbouring country in the Middle East and has already been awarded its first Government Contract.

 

2015: The Group continues its strategic expansion to the Arab countries with the establishment of its office in the Sultanate of Oman, where it has already been awarded the status of “Excellent Construction Company”.

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