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Athens 2004 - Games of the XXVIII Olympiad - Company news and developments We have selected a few news stories that were published in 2002, 2003 and 2004 for INVgr's non-registered subscribers, which are listed below. To gain unrestricted access to INVgr's complete archive of news, research and analysis, please register on-line by clicking here. 2004
2003
2002
ARAMARK of the U.S. to join forces with Greece's N. Daskalantonakis Group - Grecotel July 22, 2003 -- ARAMARK Corporation (ticker: RMK, New York Stock Exchange), a world leader in managed services, today announced that it has signed a multi-million dollar contract to provide food service for the Olympic Village at the 2004 Summer Olympic Games in Athens. The decision, which was made by the Athens 2004 Organising Committee for the Olympic Games SA, marks the 13th time ARAMARK has been selected to serve at the Olympic Games. In Athens, ARAMARK will work with its partner, the Nikos Daskalantonakis Group - Grecotel chain, Greece's largest company in the hospitality sector and owner of the Grecotel chain of hotels, to provide meals for the largest Olympic Village in history. The Olympic Village in Athens will host Summer Olympic and Paralympic Games participants, coaches, officials and Games personnel. ARAMARK and the N. Daskalantonakis Group will be serving more than two million meals to participants, coaches and officials throughout the 60-day duration of both the Olympic and Paralympic Games. In addition, ARAMARK and its partner will manage the design and construction of the kitchen and dining facilities for the Olympic Villages. ARAMARK has a long and rich history with the Olympic Games -- dating back to 1968 when it served at the Mexico City Summer Games, the largest in history at the time. Since then, the company has managed services at more Olympics Games than any other company, earning its own "gold medal" performance at both the Summer and Winter games over the past four decades -- including the 1976 Summer Olympic Games in Montreal, Canada; the 1980 Winter Olympic Games in Lake Placid, N.Y.; the 1984 Winter Olympic Games in Sarajevo, Yugoslavia; the 1984 Summer Olympic Games in Los Angeles, Calif.; the 1988 Winter Olympic Games in Calgary, Canada; the 1988 Summer Olympic Games in Seoul, South Korea; the 1992 Summer Olympic Games in Barcelona, Spain; the 1994 Winter Olympic Games in Lillehammer, Norway; the 1996 Centennial Olympic Games in Atlanta, Ga.; the 1998 Winter Olympic Games in Nagano, Japan; and the most recent Summer Olympic Games in Sydney, Australia in 2000. The catering companies will provide nutritional support to the largest Olympic Village in history, where 35,000 people will be housed. An estimated 2,000,000 meals will be served at the Olympic Village during the 60-day period spanning the Olympic Games and the Paralympic Games, which will also be held in Athens. A Mediterranean-style diet has been chosen to feed the athletes participating in the 2004 Olympic Games. About ARAMARK Corp. ARAMARK is a world leader in providing managed services -- including food, facility and other support services and uniform and career apparel. ARAMARK has leadership positions serving the business, education, healthcare, government and sports and recreation segments. In FORTUNE Magazine's 2003 survey of the "Most Admired Companies in America," ARAMARK ranks no. 1 in the outsourcing services category and is No. 10 among all companies included in the survey by overall score as evaluated by peers within the industry. Headquartered in Philadelphia, ARAMARK has approximately 200,000 employees and has operations in 18 countries: the United States, Argentina, Azerbaijan, Belgium, Canada, Chile, Czech Republic, Equatorial Guinea, Germany, Hungary, Ireland, Japan, Kazakhstan, Korea, Mexico, Spain, Taiwan and the United Kingdom. About the N. Daskalantonakis Group The Nikos Daskalantonakis Group, Greece's largest company in the hospitality sector, is dynamically expanding in its domestic market. It employs more than 5,000 people and serves 12 million meals and 4 million snack meals a year. Grecotel's nutritionists and chefs are already hard at work divising menus for 1,500 different meals to be served at the Olympic Village. Dishes will feature local produce and product by Greek food companies such as ATHEX-listed Creta Farm SA, Greece's largest producer of pork and cured meats. The N. Daskalantonakis Group - Grecotel and ARAMARK Corp. deserve "gold medals" for their catering services. What does it take to feed the biggest Olympic Village in history?
Sources: ARAMARK Corp. / Grecotel SA.
Fixing Games glitches before they happen
April 4, 2003 -- Here's a dilemma: how does the EU's lowest-tech country meet the gargantuan information requirements of the Athens 2004 Olympics? In 2004, Games organisers must provide a lightning-quick information feed to thousands of reporters and Olympic officials in near-zero response times. That task is shared with SchlumbergerSema, the information technology systems providers that took over from IBM as Olympic sponsor after the Sydney 2000 Games. The benchmark for failure has already been set - - ironically by the city that beat Athens to the 1996 Olympics. In media circles, Atlanta 1996 is best remembered as the Glitch Games after an information blackout left reporters groping for competition results in the dark. "It's true, here you see power outages very often," says Mr. Claude Philipps, Schlumberger summer Olympics Games manager. "[Greek organisers] took this seriously... There is a diesel generator in every venue." Given the enormity of the IT task, this is a risk that Greek organisers cannot afford to take (and money they cannot afford to save). Schlumberger calculate that the 2004 Games will require two to three times more "IT power" than the Salt Lake 2002 Winter Games, their first assignment as official sponsor. For Athens, they will obtain and provide 10,000 computers, 450 servers, 2,000 faxes and copiers and 2,000 printers, plus a workforce of nearly 4,000 (3,500 of whom will be volunteers). [more...] (By Mr. John Hadoulis, Athens News)
Interoute to provide network services to OTE for 2004 Olympics
Long-term multi-million euro contract to provide flexible network services to OTE March 11, 2003 -- Interoute, owner and operator of Europe's most advanced and densely connected network, today announced that it has signed an agreement with Hellenic Telecommunications Organisation SA (OTE), the largest Greek telecommunications operator, to provide high-speed data networks services throughout Europe, in preparation for the 2004 Olympic Games in Athens. Under the terms of the long-term deal, Interoute will provide OTE with European network services and co-location in various different European city locations. Additionally, Interoute will provide wavelength connectivity from the OTE sub-sea cable landing point in Bari currently being built by Alcatel, to several locations throughout Italy. Commenting on the announcement, Mr. James Kinsella, Executive Chairman of Interoute said, "We are delighted that OTE has chosen Interoute for the European delivery of its high value, high-quality content in preparation for the Olympics in 2004. It further illustrates that serious providers want to establish a significant relationship with a stable, debt-free network owner who takes away the complexity, yet provides commercial and technical flexibility." Mr. George Georgitsis from OTE said, " For us the choice was simple - we wanted a supplier who could offer us technical and commercial flexibility, who understood our business and our imperatives for the near future, could demonstrate a customer-centric culture, and would be with us for the long term -- Interoute was the natural choice." [full story...] [members] [To read the full story, please click here (premium content). Register on-line.]
ATHOC signs up three Royal Olympia cruise vessels
March 2, 2003 -- A high-profile deal to reserve three state-of-the-art cruise vessels, all expected to host members of the extended 'Olympic Family' during the 2004 Games, was signed on February 25th by Athens 2004 Organising Committee for the Olympic Games SA (ATHOC) and Royal Olympia Cruises, Inc. (ROC). Two of the cruise ships, the Olympia Voyager and the Olympia Explorer, built in 2000 and 2002 respectively, are able to host 836 passengers in 420 luxury suites. A third cruiseship, the Olympia Countess offers a more economical hospitality package. ATHOC has promised a small flotilla of cruise ships in an upgraded and beautified Piraeus port by August 2004, one of the alternatives to meeting pressing hospitality needs during the upcoming Olympic Games. Royal Olympia Cruises executive Mr. Andreas Potamianos noted afterwards that it was a great honour for a Greek company to host members of the 'Olympic Family,' which is one of the reasons his company is working with ATHOC. Royal Olympia Cruises is one of the world's leading international cruise lines, with a seagoing heritage that stretches back to the mid-1800s. The standard-bearer for the tradition of the Classic Cruise Experience, Royal Olympia is renowned for its elegant, 'human-sized' vessels, uniquely rich world-wide itineraries and shore excursions, warm and friendly Greek crew and international staff, outstanding cuisine and service, and its industry-leading cultural enrichment programme. Royal Olympia's fleet of seven mid-size ships includes the state-of-the-art, 836-passenger Olympia Explorer (debuted May 3rd, 2002) and her sister ship, Olympia Voyager (launched June 2000). These high-tech vessels are the fastest cruise ships in the world, with up to 30-knot service speed, which enables them to deliver more ports per cruise and more time in port. Greek-flagged Royal Olympia cruise vessels are based in Piraeus, the port of Athens, and the name 'Olympia' reflects the great seafaring tradition of giving ships female names. It also speaks directly to the company's intense pride in its national heritage, as the region of Olympia was one of the most important landmarks of ancient Greece. Legend has it that the ancient gods fought to make Olympia a holy sanctuary, and it remains to this day the very heart and soul of Greek myths and traditions. Indeed, it is one of the most popular and magical destinations in the entire country, symbolising peace, unity of nations and the spirit of fair competition. Sources: ANA, Royal Olympia Cruises, Inc.
Cunard Line's new GBP 534-million flagship QM2 chartered by Athens 2004 Olympic Games organisers
January 27, 2003 -- It's official. Cunard Line's new flagship Queen Mary 2 -- the largest, longest, tallest, widest and most expensive passenger liner ever -- will be positioned in the Greek port of Piraeus to serve as a floating hotel for the 2004 Athens Olympic Games. The new 1,310-cabin luxury liner will arrive in Piraeus on August 12th, 2004, and remain docked there until August 30th. The charter agreement was signed yesterday in Athens by Ms. Deborah Natansohn, Senior Vice-President of Sales and Marketing for Cunard Line; by Mrs. Gianna Angelopoulos-Daskalaki, President of the Athens 2004 Organising Committee for the Olympic Games (ATHOC); and by Mr. John Casulli, President of Athens-based InterMed Travel Consultants Ltd., who brought the two parties together. Mr. Peter Shanks, Cunard's Senior Vice President Europe, says: "Worldwide attention will be on Athens in 2004. We are very proud that Queen Mary 2, flagship of Cunard Line and the world’s passenger fleet, will also be the flagship of the 2004 Olympic Games." According to Angelopoulos-Daskalaki: "The presence of Queen Mary 2, the most modern and technologically advanced liner in the world, will not only contribute significant deluxe accommodation to the Hospitality Programme of Athens 2004, but will also add special glamour to the port of Piraeus." ATHOC reports that a total of 11 cruise ships will host up to 13,000 visitors in the port of Piraeus for the 2004 Olympic Games. Cunard Line is revising its itineraries to offer Mediterranean cruises aboard QM2 between Southampton, and Piraeus before and after the Olympic Games. Scheduled to enter service in January 2004, Cunard’s GBP 534-million flagship Queen Mary 2 will feature sweeping staircases, expansive promenades, luxurious staterooms and among the most lavish suites at sea; nearly three-quarters of accommodation will have private balconies. Facilities include 10 dining venues; several elegant bars and show lounges; a theatre; a health spa operated by the world famous Canyon Ranch; the world’s first planetarium at sea; five indoor and outdoor swimming pools; hot tubs; boutiques; a children’s facility, complete with British nannies; and a pet kennel. On the technical side, the QM2 powerplant will include two gas turbines and four diesel engines. More than two-thirds of this energy will be used to power a state-of-the-art MermaidTM Pod Propulsion System, comprising of two fixed and two azimuthing pod units. The first four-pod installation to date, the powerful new system will provide a speed of nearly 30 knots with low noise and vibration levels and maximum maneuverability. Source: Cunard Line.
January 9, 2003 -- Greek construction and home building group Technical Olympic [premium content] and LAMDA Development SA, a member of the Latsis group, increased its involvement in the area of marina development and management in Greece by developing further its marina network by undertaking the development and operation of the Flisvos Marina in Faliro, Athens. The relevant contract was signed between Hellenic Tourist Properties SA (ETA) [premium content] and Lamda TechnOl Flisvos Marina, a company established by Technical Olympic and LAMDA Development, which are the main shareholders, along with other Greek and foreign companies active in the areas of real estate development and marina design and operation. Accordingly, Technical Olympic and LAMDA Development along with other Greek and foreign partners -- Porto Carras SA, which is a member of the Technical Olympic Group, Triton: Yachts’ Complete Services SA, T. AF. SA, Intercontinental Real Estate and Development Co., Odyssey Fun Worlds and Entertainment Co., Floating Docks/ Greece, LLC and Marina Management Services Inc. -- will implement a development plan of an estimated value of EUR 44 million and will operate this VIP marina for 40 years, ensuring a steady source of revenues. The facilities of the Flisvos Marina will be used during the 2004 Athens Olympic Games.The area is attractive and modern with many nice hotels, shops, restaurants, discos, etc. In the summer it is the point of departure for one-day cruises to Aegina, Hydra, Poros and other nearby islands. [full article...] [members] [To read the full article, please click here (premium content). Register on-line.]
Athens 2004 projects boost Greece's economy, create 30,000 new jobs December 24, 2002 -- In 2002, Athens 2004 Olympics projects have contributed to a 0.4% increase in Greece's GDP, 30,000 new jobs, a 5.2% rise in retail sales and a 20% increase in construction activity, according to reports.
EIB provides EUR 500 million for Athens 2004 Olympics related infrastructure December 13th, 2002 -- The European Investment Bank (EIB), the European Union's long-term financing institution, is providing EUR 500 million for the construction of new, as well as the upgrading of existing infrastructures and facilities related to the Athens 2004 Olympics. The schemes are located in Athens and other municipalities throughout Greece. The Deputy Minister of National Economy Mr. Christos Pachtas acting on behalf of the Hellenic Republic signed the financing agreements today in Athens. The loan is the first tranche of a larger facility of EUR 1.5 billion approved by the EIB earlier this month, which will be made available in tranches over the construction period of the project to the Hellenic Republic, through the Ministry of Economy and Finance, and to the Olympic Real Estate SA, a limited company established in 2002, wholly owned by the Greek State, under the joint supervision of the Ministries of Economy and Finance and Culture. Its statutory objectives include the post-Olympic Games administration, management and exploitation of selected physical assets with post-games commercial use, to be constructed under the Olympic Works programme. The allocation of the amounts of the overall facility to the two borrowers will be determined in due course. This is a follow up EIB loan operation in support of the Athens 2004 Olympics. A EUR 100 million loan has been provided in November 2001 for the construction of two new tramway lines of a total of 22.7 km. in Athens (line T1 linking the Athens centre (Zappio) with the South coast of Athens (Neo Faliro), and line T2 connecting Neo Faliro to the Southern suburb of Glyfada, including also the supply of 35 tram cars).
ALSTOM, as a member of a consortium, wins new airport railway link contract in Greece August 27, 2002 -- ALSTOM, as a member of a consortium, has won a new order to supply and construct the electrical and mechanical elements of a new suburban line between the city centre of Athens, and Spata International Airport. The consortium includes Greek companies J&P - AVAX SA, ETETH and GNOMON SA who are responsible for the civil works. The contract, awarded by ERGA OSE SA (ERGOSE), a subsidiary of the Hellenic Railway Organisation (OSE), has an overall value of EUR 326 million, of which ALSTOM's share will be EUR 134 million. The 30-kilometre link will comprise an existing 10-kilometre section between the city centre and city limits, which will be renovated, and a new line linking the city limits and the airport. Passenger service will commence on this line in time for the Olympic Games in the summer of 2004. [more...] [members only] [To read the full article, please click here (premium content). If you are not a subscriber of INVgr, please register on-line.]
Athens 2004 contest for the supply of computers for the Olympic Games August 23, 2002 -- The Organising Committee for the Olympic Games ATHENS 2004 SA (ATHOC) has set a contest for the supply of computers for the Olympic Games, according to press reports. The EUR 14 million project includes the supply of 8,500 personal computers and 350 servers. The two consortia that have expressed their interest to participate are: 1) Intracom - Info-Quest - Altec - PC Systems A single company, Fujitsu Siemens, is also interested to participate.
European Dynamics SA signs strategic partnership agreement with TRW Systems Europe June 19, 2002 -- In an effort to offer a wide range of security services for the Athens 2004 Olympic Games, European Dynamics SA signed a strategic partnership agreement with TRW Systems Europe. Under the terms of the agreement, the companies will offer a wide range of natural security as well as Internet security systems which will combat any threats to computer and data systems. TRW Systems Europe is a leading business and technology integrator -- providing total Web and customer-centric supply chain solutions that help global companies, in a wide range of industry sectors, rapidly re-engineer their business processes and operations.
LAMDA Development SA to develop the Olympic Media Village in Maroussi May 9, 2002 -- LAMDA Development SA proceeded with the acquisition of a 95% stake in Amarousion Municipal Authority (AMA) for EUR 129 million. AMA currently holds an extensive real estate portfolio in close vicinity to the Athens Olympic Stadium. The acquisition opens the way for the development of the Olympic Media Village by LAMDA (70,000 m2 of athletes' accommodation and 80,000 m2 of commercial and leisure facilities). The company outbid Hellenic Techodomiki-Aktor-TEV group, AEGEK SA and Multi Development Corporation. LAMDA Development is a holding company listed on the main market of the Athens Exchange (ATHEX). Through its subsidiaries, it offers a comprehensive range of integrated services in complementary sectors such as real estate, tourism, yacht maintenance and refurbishment, airport ground handling and infrastructure projects.
Combining specialist expertise and know-how, expert personnel, powerful strategic allies and the credibility arising from the Latsis Group of companies, the LAMDA Development Group offers its clients high-quality and extremely competitive integrated solutions. Sources: EIB, LAMDA Development, Artion Securities SA.
The Nuance Group opens "The Olympic Store" in downtown Athens
April 19, 2002 -- Zurich-based The Nuance Group is continuing the success story of its "Olympic Store". The new store will be operating inside the fashionable Lambropoulos department store in downtown Athens and provide a showcase for the Olympic merchandise similar to the one featured at Athens International Airport. The concept of "The Olympic Store" goes back to 1996 when the first store opened in Sydney, Australia. Running up to the 2000 Sydney Olympics, 4 Olympic Stores were opened at diverse Australian locations both at airports and in city centres, bringing Olympic merchandise linked with an infotainment experience to travellers and locals alike. Greece, host of the 2004 Olympic Games, has seen the opening of the first Olympic Store at the Athens International Airport "Eleftherios Venizelos" in March 2001. Since then, the store, which is the result of a close co-operation between Nuance and the Athens 2004 Organising Committee for the Olympic Games (ATHOC), has offered travellers and visitors a foretaste of the excitement of Olympic Games on a retail level.
The new downtown store, located inside Athens' Notos Galleries Lampropoulos department store in the Omonoia quarter of Athens, which belongs to ATHEX-listed Notos Com Holdings SA, covers a surface of 63 m2 and offers clothing, accessories, sportswear, jewellery and china, all carrying the official logo of the Athens 2004 Olympic Games. The shop was officially opened this week by Mr. Pyrros Dimas, Greece’s three time Gold Medal winner in heavy weight lifting. Mr. Pyrros will be the first of many Olympians, both Greek and international, to take part in activities in The Olympic Stores leading up to the Games of the XXVIIIth Olympiad. Mr. Peter Petersen, President & CEO, The Nuance Group, is convinced that the downtown location is an ideal endorsement for the popular concept already featured at the airport. "The Olympic Games are a very powerful event," Mr. Petersen explains. "Our experience in Sydney has shown that Olympic merchandise appeals to visitors and locals alike. We are happy to be able to offer this experience at another key location in Athens." About The Nuance Group The Nuance Group, which is based in Zurich, Switzerland, is the world’s number-one in airport shopping. The group operates 370 airport stores in 19 countries and employs some 5,150 personnel. Nuance is also responsible for the inflight sales of several airlines.
In Greece, The Nuance Group Hellas SA runs specialist shops in the new Athens International Airport "Eleftherios Venizelos" -- Hermes, Hugo Boss and Cocoon Fashion -- each shop containing an exclusive range of well-known fashion brands. In addition, the Nuance Group was officially announced "preferred retailer" for the Athens 2004 Olympic Games and has, therefore, the exclusive right to run The Olympic Store in Athens, and retail sale of the entire official licenced Olympic Merchandise Collection.
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