Prodromos Athanassiades was born in 1891 in Poros (Turkish name: Bor), a small town of the Niğde Province in Cappadocia. The name “Bodossakis” by which he was to become known later in his life, is derived from the Turkish equivalent for “Prodromos”.
His childhood was one of hardship. At the age of 7, he moved with his family to Mersina, where he attended the local Greek school, establishing himself as the top of his class. He first ventured into business while still at school, selling to the Greeks of Mersina prints featuring heroes of the 1821 Greek Revolution and patriotic pamphlets, which arrived clandestinely from Athens.
At 17 he rented a watermill and established a flour mill and a ginnery.
In 1912, he married Austrian-born Johanna Gebauer, his life companion for the next 60 years.
His businesses flourished and multiplied.
In 1918, he moved to Constantinople. He bought the Pera Palace Hotel in Constantinople and the Sporting Club in Smyrna.
In 1919, while on a visit to Athens, he met Eleftherios Venizelos for the first time.
Prodromos Athanassiades was born in 1891 in Poros (Turkish name: Bor), a small town of the Niğde Province in Cappadocia. The name “Bodossakis” by which he was to become known later in his life, is derived from the Turkish equivalent for “Prodromos”.
His childhood was one of hardship. At the age of 7, he moved with his family to Mersina, where he attended the local Greek school, establishing himself as the top of his class. He first ventured into business while still at school, selling to the Greeks of Mersina prints featuring heroes of the 1821 Greek Revolution and patriotic pamphlets, which arrived clandestinely from Athens.
At 17 he rented a watermill and established a flour mill and a ginnery.
In 1912, he married Austrian-born Johanna Gebauer, his life companion for the next 60 years.
His businesses flourished and multiplied.
In 1918, he moved to Constantinople. He bought the Pera Palace Hotel in Constantinople and the Sporting Club in Smyrna.
In 1919, while on a visit to Athens, he met Eleftherios Venizelos for the first time.
In November 1923, true to the promise he had made to Venizelos in Lausanne, Bodossakis settled in Greece and embarked on his business activities.
In 1934, he took over the Hellenic Powder and Cartridge Company (PYRKAL). As demand for military supplies was particularly high, his company recorded large profits from exports until the start of World War II.
In 1935, he acquired Hellenic Wool Mills Company Ltd. and in early 1937 PYRKAL expanded its munitions production to artillery shells.
In November 1923, true to the promise he had made to Venizelos in Lausanne, Bodossakis settled in Greece and embarked on his business activities.
In 1934, he took over the Hellenic Powder and Cartridge Company (PYRKAL). As demand for military supplies was particularly high, his company recorded large profits from exports until the start of World War II.
In 1935, he acquired Hellenic Wool Mills Company Ltd. and in early 1937 PYRKAL expanded its munitions production to artillery shells.
The history of the Hellenic Powder and Cartridge Company (PYRKAL) had already begun in 1908, when the small munitions company of the Maltsiniotis Brothers was merged with the Hellenic Powder, Chemical and Industrial Products Company Ltd. In 1924, the Greek government attempted to revive the company with the participation of the National Bank of Greece, the Industrial Bank and Bodossakis. This attempt, however, failed.
In January 1934, I. Drossopoulos, then Governor of the National Bank of Greece, invited Bodossakis to take over the company. After tough negotiations, the National Bank agreed to transfer to him the ownership of its shares in PYRKAL.
As soon as the agreement was in place, Bodossakis started on the revival of PYRKAL. The initial period of the company’s operation until the start of World War II was profitable, as all European countries were preparing for war and demand for military supplies and munitions was very high. The company also made significant exports to Spain, in response to orders placed by the country’s legal government, which at the time was engaged in civil war.
In Greece, however, the Armed Forces had taken a hostile stand towards Bodossakis. The military were questioning the quality of PYRKAL’s products and were quite often purchasing munitions from abroad, even though the company’s products had gained international recognition for their quality. Bodossakis nevertheless kept the company’s production plants operating at full capacity, building up large stocks which turned out to be a lifesaver when the Greco-Italian War broke out.
In early 1941, when it had become clear that the German invasion of Greece was imminent, Bodossakis was urging the Government to ship PYRKAL’s plant equipment and munitions stock to the Middle East, to prevent them from falling into the hands of the Germans. The approval was eventually given, but it was too late… Once in Athens, the German occupation forces were quick to strip the plant of all equipment and stock and send everything to Germany.
After the war, PYRKAL resumed operations in 1951, with Greece’s accession to NATO. Relying on the steady flow of NATO orders and at the instigation of Prime Minister Papagos, Bodossakis made significant investments to modernise the company, which were completed in 1954.
Yet the post-war period did not bring about the positive results anticipated for PYRKAL. This was partly due to the fact that the use of war material had dropped dramatically after the end of the war, but also to the fact that Greece, as indeed other countries too, was bound by the restrictions of the Cold War era, which meant that its war industry could no longer freely decide on matters concerning the purchase and sale of war material. Besides, state interventionism was also intense, as the Greek State was repeatedly expressing his intention to bring the country’s war industry under its full control.
Finally, after many difficulties during the post-war period, PYRKAL was nationalised in 1981.
The history of the Hellenic Powder and Cartridge Company (PYRKAL) had already begun in 1908, when the small munitions company of the Maltsiniotis Brothers was merged with the Hellenic Powder, Chemical and Industrial Products Company Ltd. In 1924, the Greek government attempted to revive the company with the participation of the National Bank of Greece, the Industrial Bank and Bodossakis. This attempt, however, failed.
In January 1934, I. Drossopoulos, then Governor of the National Bank of Greece, invited Bodossakis to take over the company. After tough negotiations, the National Bank agreed to transfer to him the ownership of its shares in PYRKAL.
As soon as the agreement was in place, Bodossakis started on the revival of PYRKAL. The initial period of the company’s operation until the start of World War II was profitable, as all European countries were preparing for war and demand for military supplies and munitions was very high. The company also made significant exports to Spain, in response to orders placed by the country’s legal government, which at the time was engaged in civil war.
In Greece, however, the Armed Forces had taken a hostile stand towards Bodossakis. The military were questioning the quality of PYRKAL’s products and were quite often purchasing munitions from abroad, even though the company’s products had gained international recognition for their quality. Bodossakis nevertheless kept the company’s production plants operating at full capacity, building up large stocks which turned out to be a lifesaver when the Greco-Italian War broke out.
In early 1941, when it had become clear that the German invasion of Greece was imminent, Bodossakis was urging the Government to ship PYRKAL’s plant equipment and munitions stock to the Middle East, to prevent them from falling into the hands of the Germans. The approval was eventually given, but it was too late… Once in Athens, the German occupation forces were quick to strip the plant of all equipment and stock and send everything to Germany.
After the war, PYRKAL resumed operations in 1951, with Greece’s accession to NATO. Relying on the steady flow of NATO orders and at the instigation of Prime Minister Papagos, Bodossakis made significant investments to modernise the company, which were completed in 1954.
Yet the post-war period did not bring about the positive results anticipated for PYRKAL. This was partly due to the fact that the use of war material had dropped dramatically after the end of the war, but also to the fact that Greece, as indeed other countries too, was bound by the restrictions of the Cold War era, which meant that its war industry could no longer freely decide on matters concerning the purchase and sale of war material. Besides, state interventionism was also intense, as the Greek State was repeatedly expressing his intention to bring the country’s war industry under its full control.
Finally, after many difficulties during the post-war period, PYRKAL was nationalised in 1981.
This major industry was founded in 1909, with production facilities located in Patisia.
Initially, its production consisted primarily in bedding and military uniforms. This was the Balkan Wars era and the company covered most of the Greek Army’s requirements in supplies of this kind.
In 1919, the company was converted into a société anonyme, with a share capital of 2,000,000 drachmas.
During the 1929-1931 crisis, the company found itself unable to duly service the loans it had obtained from the National Bank of Greece and was thus forced to transfer ownership of its shares to the bank. In 1935 PYRKAL, acting on a proposal by Bodossakis, acquired 80% of the National Bank’s stake in Hellenic Wool Mills Company Ltd. After its acquisition by Bodossakis, the company rebounded, reaching satisfactory performance levels and evolving into one of the most modern textile industries in the Balkans.
This major industry was founded in 1909, with production facilities located in Patisia.
Initially, its production consisted primarily in bedding and military uniforms. This was the Balkan Wars era and the company covered most of the Greek Army’s requirements in supplies of this kind.
In 1919, the company was converted into a société anonyme, with a share capital of 2,000,000 drachmas.
During the 1929-1931 crisis, the company found itself unable to duly service the loans it had obtained from the National Bank of Greece and was thus forced to transfer ownership of its shares to the bank. In 1935 PYRKAL, acting on a proposal by Bodossakis, acquired 80% of the National Bank’s stake in Hellenic Wool Mills Company Ltd. After its acquisition by Bodossakis, the company rebounded, reaching satisfactory performance levels and evolving into one of the most modern textile industries in the Balkans.
With the onset of the post-war period, Bodossakis decided to expand its business activity into new areas. The opportunity to do so presented itself in the form of Fertilisers Company Ltd., subsequently renamed Hellenic Chemical Products and Fertilisers S.A. Founded in 1909, the company was in dire financial condition as a result of mismanagement.
Bodossakis was quick to perceive the company’s good prospects and in October 1946 he bought from the founders’ heirs the majority stake in the company.
He earnestly set himself to the task of rapidly reorganising and developing the company, which at that time owned a superphosphate fertilisers plant in Drapetsona as well as iron pyrite mines in Chalkidiki, which supplied the raw material for the plant. The company also owned copper mines in Cyprus. Regarding the latter, Bodossakis founded a new company in Cyprus to manage activities locally, as it had been found that operations could not be successfully monitored from Athens.
In 1953, the Bodossakis Group of Companies in Cyprus was providing employment to 3,000 Cypriots. In 1960, Bodossakis donated to the Cypriot Government all his assets in Cyprus, to be used for the benefit of the Cypriot people.
The 1950s marked the apex of the company’s growth and prosperity, as Hellenic Chemical Products & Fertilisers S.A. was active in three industrial activity sectors and produced numerous products which it sold both in Greece and abroad. The company also operated iron pyrite, led, zinc, lignite and chromium mines in several locations throughout Greece.
With the onset of the post-war period, Bodossakis decided to expand its business activity into new areas. The opportunity to do so presented itself in the form of Fertilisers Company Ltd., subsequently renamed Hellenic Chemical Products and Fertilisers S.A. Founded in 1909, the company was in dire financial condition as a result of mismanagement.
Bodossakis was quick to perceive the company’s good prospects and in October 1946 he bought from the founders’ heirs the majority stake in the company.
He earnestly set himself to the task of rapidly reorganising and developing the company, which at that time owned a superphosphate fertilisers plant in Drapetsona as well as iron pyrite mines in Chalkidiki, which supplied the raw material for the plant. The company also owned copper mines in Cyprus. Regarding the latter, Bodossakis founded a new company in Cyprus to manage activities locally, as it had been found that operations could not be successfully monitored from Athens.
In 1953, the Bodossakis Group of Companies in Cyprus was providing employment to 3,000 Cypriots. In 1960, Bodossakis donated to the Cypriot Government all his assets in Cyprus, to be used for the benefit of the Cypriot people.
The 1950s marked the apex of the company’s growth and prosperity, as Hellenic Chemical Products & Fertilisers S.A. was active in three industrial activity sectors and produced numerous products which it sold both in Greece and abroad. The company also operated iron pyrite, led, zinc, lignite and chromium mines in several locations throughout Greece.
KEO Distilleries Ltd. was founded in 1906 and was acquired by Bodossakis in 1947. Renamed Hellenic Wines & Spirits S.A. (VOTRYS), the company proceeded immediately to fully reorganise its operations, renew its equipment and establish a brewery, whose official opening took place in 1951.
In its plants in Athens and Elefsina, the company operated distillery, winery, beverages, distillates and brewery departments.
The company’s exports of wines, beverages and distillates to Western Europe and North America for the period 1974-1979 stood at approximately $12,000,000.
KEO Distilleries Ltd. was founded in 1906 and was acquired by Bodossakis in 1947. Renamed Hellenic Wines & Spirits S.A. (VOTRYS), the company proceeded immediately to fully reorganise its operations, renew its equipment and establish a brewery, whose official opening took place in 1951.
In its plants in Athens and Elefsina, the company operated distillery, winery, beverages, distillates and brewery departments.
The company’s exports of wines, beverages and distillates to Western Europe and North America for the period 1974-1979 stood at approximately $12,000,000.
Bodossakis launched this large-scale, visionary project in 1955, yet he did not enjoy the fruits of his labours. Having said that, this initiative provides a measure of his drive, creativity and imagination as an entrepreneur. The project involved the exploitation of the lignite-rich area of Ptolemaida, with the creation of a power plant and other industries that would use lignite as raw material (e.g. nitrogenous fertilisers).
For this purpose, Bodossakis created the company Ptolemais Lignite Mines S.A. (LIPTOL) and embarked on the great venture ahead. Speaking during the inauguration ceremony held in 1957, Bodossakis stressed: “This project is the cornerstone of the future development of the country’s economy.”
Unfortunately, in the following years he was forced with various methods to transfer his ownership rights to the Greek State and, ultimately, to the PPC. With justified bitterness, Bodossakis wrote: “This is a project which, if not for my own personal initiative, my own labours, my own connections and my own funds, would have never been possible.”
Bodossakis launched this large-scale, visionary project in 1955, yet he did not enjoy the fruits of his labours. Having said that, this initiative provides a measure of his drive, creativity and imagination as an entrepreneur. The project involved the exploitation of the lignite-rich area of Ptolemaida, with the creation of a power plant and other industries that would use lignite as raw material (e.g. nitrogenous fertilisers).
For this purpose, Bodossakis created the company Ptolemais Lignite Mines S.A. (LIPTOL) and embarked on the great venture ahead. Speaking during the inauguration ceremony held in 1957, Bodossakis stressed: “This project is the cornerstone of the future development of the country’s economy.”
Unfortunately, in the following years he was forced with various methods to transfer his ownership rights to the Greek State and, ultimately, to the PPC. With justified bitterness, Bodossakis wrote: “This is a project which, if not for my own personal initiative, my own labours, my own connections and my own funds, would have never been possible.”
Chemical Industries of Northern Greece S.A. was founded in 1962 and its shareholders were Hellenic Chemical Products & Fertilisers S.A., the National Bank of Greece and the French Rhône-Poulenc Group. The company’s plant in Diavata, Thessaloniki, started operating in 1966, producing acids, fertilisers and propulsion gases (for use in aerosol dispensers and refrigeration installations).
As soon as production was under way, exports also began, primarily of propulsion gases and small quantities of fertilisers, as the largest part of the planet’s production of the latter served to meet domestic needs. For the period 1974-1979, the company’s exports stood in excess of $60,000,000.
Chemical Industries of Northern Greece S.A. was founded in 1962 and its shareholders were Hellenic Chemical Products & Fertilisers S.A., the National Bank of Greece and the French Rhône-Poulenc Group. The company’s plant in Diavata, Thessaloniki, started operating in 1966, producing acids, fertilisers and propulsion gases (for use in aerosol dispensers and refrigeration installations).
As soon as production was under way, exports also began, primarily of propulsion gases and small quantities of fertilisers, as the largest part of the planet’s production of the latter served to meet domestic needs. For the period 1974-1979, the company’s exports stood in excess of $60,000,000.
On 16 July 1952, the Greek State concluded with Hellenic Chemical Products and Fertilisers S.A. an agreement granting the company a 36-year long lease of the ownership and exploitation rights to the nickel mines in the Larymna area.
During the first ten years of operation of the Larymna mines, the exploration and exploitation the deposits were quite satisfactory and even exceeded the company’s contractual obligations. For the metallurgical treatment of the ores to produce nickel, however, the opposite was the case, as despite all efforts the Krupp-Renn method initially applied for the production of ferro-nickel with a nickel content of 5% led to failure and was ultimately abandoned altogether, but not before creating over $25 million of losses for the company.
This was followed by negotiations for the sale of the mines to Inco Limited, the Canadian mining company and world leader in nickel production, which however were abandoned for good in June 1961. Almost immediately after that, interest for the mines was again expressed by a French company, this time the nickel mining company Le Nickel. On 31 July 1961, a protocol was signed for the establishment of a new company, in which Le Nickel would participate with 21.5%. The name agreed for the new company was General Mining and Metallurgical Company S.A. (LARCO).
Le Nickel’s involvement in LARCO lasted until 1968, when the French withdrew. During this time, however, Bodossakis had successfully secured the transfer know-how to the Larymna Metallurgy Department.
LARCO thus was able to continue on its successful path moving forward, with nickel production growing from 109 tonnes in 1966 to over 2,300 in 1967, rising steadily thereafter and reaching 16,500 tonnes in 1976 – a record annual production volume for the entire period before the large investment made during 1977-1978 to increase the plant’s capacity. Bodossakis’ faith in the Larymna business venture and his endeavours to ensure its success were thus vindicated.
On 16 July 1952, the Greek State concluded with Hellenic Chemical Products and Fertilisers S.A. an agreement granting the company a 36-year long lease of the ownership and exploitation rights to the nickel mines in the Larymna area.
During the first ten years of operation of the Larymna mines, the exploration and exploitation the deposits were quite satisfactory and even exceeded the company’s contractual obligations. For the metallurgical treatment of the ores to produce nickel, however, the opposite was the case, as despite all efforts the Krupp-Renn method initially applied for the production of ferro-nickel with a nickel content of 5% led to failure and was ultimately abandoned altogether, but not before creating over $25 million of losses for the company.
This was followed by negotiations for the sale of the mines to Inco Limited, the Canadian mining company and world leader in nickel production, which however were abandoned for good in June 1961. Almost immediately after that, interest for the mines was again expressed by a French company, this time the nickel mining company Le Nickel. On 31 July 1961, a protocol was signed for the establishment of a new company, in which Le Nickel would participate with 21.5%. The name agreed for the new company was General Mining and Metallurgical Company S.A. (LARCO).
Le Nickel’s involvement in LARCO lasted until 1968, when the French withdrew. During this time, however, Bodossakis had successfully secured the transfer know-how to the Larymna Metallurgy Department.
LARCO thus was able to continue on its successful path moving forward, with nickel production growing from 109 tonnes in 1966 to over 2,300 in 1967, rising steadily thereafter and reaching 16,500 tonnes in 1976 – a record annual production volume for the entire period before the large investment made during 1977-1978 to increase the plant’s capacity. Bodossakis’ faith in the Larymna business venture and his endeavours to ensure its success were thus vindicated.
Hellenic Owens Elefsis Glass Company S.A. was founded around 1970, on the initiative of Bodossakis. The company’s shareholders were the Bodossakis companies with a 65% stake (LARCO with 32.5%, Hellenic Chemical Products & Fertilisers with 25.5% and PYRKAL with 7%), the Hellenic Bank for Investments and Industrial Development (ETEVA) with 10%, and OWENS ILLINOIS S.A. with the remaining 25%.
With a daily output capacity of 240 tonnes, the company’s plant produced bottles suitable for bottling liquors, beverages, pharmaceuticals and other liquid products, as well as glasses and other tableware.
A significant part of production (15%-20%) was exported primarily to Egypt, Libya and other countries in the Middle East. From $280,000 in 1974, the value of the company’s exports grew to $1,400,000 in 1979 and $3,000,000 in 1980.
Hellenic Owens Elefsis Glass Company S.A. was founded around 1970, on the initiative of Bodossakis. The company’s shareholders were the Bodossakis companies with a 65% stake (LARCO with 32.5%, Hellenic Chemical Products & Fertilisers with 25.5% and PYRKAL with 7%), the Hellenic Bank for Investments and Industrial Development (ETEVA) with 10%, and OWENS ILLINOIS S.A. with the remaining 25%.
With a daily output capacity of 240 tonnes, the company’s plant produced bottles suitable for bottling liquors, beverages, pharmaceuticals and other liquid products, as well as glasses and other tableware.
A significant part of production (15%-20%) was exported primarily to Egypt, Libya and other countries in the Middle East. From $280,000 in 1974, the value of the company’s exports grew to $1,400,000 in 1979 and $3,000,000 in 1980.
The death of Bodossakis, on 18 January 1979, brought to a close a versatile and multifaceted productive life. Yet the acts of charity which he had been quietly carrying out throughput his long life survive to this day and are continued by Bodossaki Foundation, his last and most important “child”, as he used to say with a smile.
Bodossakis Athanassiades proved himself a worthy successor in the long tradition of the nation’s great benefactors and is rightly counted among them by Greece’s modern history.
The secret of Bodossakis’ success was his love of creation, not of money. The fact that, while still alive and fully active as an entrepreneur, he bequeathed his entire fortune to Bodossaki Foundation, meant that he had set as his purpose in life to create and to assist the State and his fellow Greeks.
The death of Bodossakis, on 18 January 1979, brought to a close a versatile and multifaceted productive life. Yet the acts of charity which he had been quietly carrying out throughput his long life survive to this day and are continued by Bodossaki Foundation, his last and most important “child”, as he used to say with a smile.
Bodossakis Athanassiades proved himself a worthy successor in the long tradition of the nation’s great benefactors and is rightly counted among them by Greece’s modern history.
The secret of Bodossakis’ success was his love of creation, not of money. The fact that, while still alive and fully active as an entrepreneur, he bequeathed his entire fortune to Bodossaki Foundation, meant that he had set as his purpose in life to create and to assist the State and his fellow Greeks.
