According to Greek press reports, waste bin manufacturer Helesi (Nicosia / Cyprus; www.helesi.com) expects sales in fiscal 2011 to amount to EUR 35.2m, down 30% over the previous year. The management team headed by CEO Sakis Adrianopoulos blames the country's poor economic situation in general and the waste management system in particular for the disastrous results. "The Greek market for waste bins and containers hit rock bottom in 2011," he said.

Despite this, economic measures and a strengthening of export activities brought some relief in the second half of the year. In the first six months, the decline had been nearly 40% compared with the same period of the previous year. Adrianopoulos said he wants to continue the strategy of geographical diversification in 2012.

Nearly three quarters of Helesi's sales come from the production of plastic waste containers and, to a lesser extent, from other plastic items such as stadium seats. Waste disposal services account for the remainder. Business is concentrated primarily on the domestic market, which, up until 2009, was responsible for around two thirds of turnover. The latest figures are not yet available. Helesi also has a joint venture with Ecoelastica for the recycling of old tires. The resins are used among other things for the production of rubber mats for playgrounds.

From its headquarters in Cyprus, Helesi operates two injection moulding plants, one in Komotini / Greece and the other in Pisticci Scalo / Italy. The production plant set up in the UK in 2004 was closed again in 2009 and has since been serving as a sales office.