ECONOMY

Viohalco leaving Greece for Brussels in search of financing and lower tax

Viohalco Hellenic Copper and Aluminum Industry is moving its headquarters from Greece to Brussels, Kathimerini understands, thereby becoming the third major Greek firm to leave the country over the last year.

Viohalco is the largest Greek company in its field but has decided to move to Brussels because of the problems it encountered obtaining financing in Greece and because it will pay lower taxes in Belgium, sources told Kathimerini.

The move means the company’s shares, which have been traded on the Athens Stock Exchange since 1947, will be withdrawn from the bourse. The company currently has a market capitalization of 1 billion euros.

Viohalco representatives told Kathimerini that the company moving its headquarters to Brussels would not affect its 87 subsidiaries.