Our Story - CARAMONDANI GROUP

A FAMILY STORY

The story begins to unravel in the early ’60s, when the young Republic of Cyprus was attempting to stand on its own two feet. What comes next spans six decades of zealous creation. A lifelong work that bears the signatures of the two people who envisioned it, brothers Stavros and Gerasimos Caramondani.

With insight and intelligence the two Caramondani brothers saw the potential of Famagusta, and of Cyprus as a whole, for the development of the tourism sector. This was the spark that created Caramondani Bros.

1959

June

On 24/6, under British Colonial rule, Caramondani Bros is established in Famagusta, Cyprus, as a Limited Partnership by Stavros and Gerasimos Caramondani, with registration number P. 2027.

December

Caramondani Bros, alongside 9 other partners, establish the electrical goods limited liability company ‘O Promithefs Ltd’, which in 1968, is renamed H.E Prometheus Ltd.

1960

The Partnership becomes an
Unlimited Partnership.

1961-2

The Partnership becomes an
Unlimited Partnership.

1963

As a result of bi-communal unrest, the partners lose a great proportion of their property, including the company warehouses in old Famagusta.

1967

Brothers Stavros and Gerasimos Caramondani establish Caramondani Plastics Ltd. to produce electrical parts such as plugs and switches, as well as plastic containers for the catering industry.

1968

The company completes the installation of central air conditioning in the first modern hotel of Cyprus, the Grecian Hotel in Famagusta.

1969

Since its establishment, and in the years which follow, the company undertakes electrical and central heating installations in hotels and other buildings in Famagusta. A pioneer in its field, it introduces central air conditioning systems to the fast-growing hotel industry. The company also completes the electromechanical installations of the first heated pool at Asterias Hotel in Famagusta.

The entire company’s determination and willpower to survive and move forward – despite being challenged so severely – was evident from those early days after the bloody July of ’74. Everyone worked continuously and tirelessly to get back on their feet again. However, it was not all a bed of roses...

1970

The company completes the first central air condition installation in a church in Famagusta’s Ayia Triada church.
In the early ’70s the company holds a 50% market share in electromechanical installations in Famagusta.

1973

Anticipating the country’s future needs for potable water from desalination, Caramondani Bros participates in the first tender for the desalination of the brackish waters of Mesaoria. It stands as the only Cypriot participant.

1974

July

With the Turkish invasion, the company is displaced from Famagusta and loses everything: offices, machinery, archives, property, as well as its largest contract to date – the mechanical installations of the hotel on Snake Island in Kyrenia, worth £400,000.

August

Following a radio summon on 28/8, the company staff and owners meet at the Sun Hall hotel in Larnaca to start rebuilding the company.

1977

Caramondani Bros completes the first floodlighting installation of a Cypriot stadium, at Makarios Stadium in Nicosia.

1978

Caramondani Bros Ltd constructs the first and largest satellite antenna in Cyprus for the Cyprus Telecommunications Authority with a diameter of 33m.

February

Caramondani Bros Ltd establishes TEU Conservices Ltd together with Comarine Ltd & Ieropoulos & Co. Ltd, with a 50-50% share capital.

June

The company becomes a Limited Liability Company named Caramondani Bros Ltd.

1979

Caramondani Bros Ltd installs the first central medical gas distribution system in Cyprus in the intensive care unit of the Nicosia General Hospital.

Employee uncertainly and insecurity can become a major cause of business failure, the founders emphasise. Ensuring that staff feel secure should be one of the top priorities of a healthy business, and this is what they always aimed to achieve.

1980

Caramondani Bros Ltd installs the central medical gas distribution system for the intensive care unit of the Limassol General Hospital. Coupled with the system installed in the Nicosia General Hospital in 1979, they constitute the first central medical gas distribution systems in Cyprus.

1981-2

Caramondani Bros Ltd undertakes the installation of the central air conditioning system and all the electromechanical installations of the first two modern hospitals in Cyprus: the Arch. Makarios III Hospital and the Larnaca General Hospital where the company also installs the central medical gas distribution system.

1982

July

The Caramondani brothers donate 27% of their company shares to their top-ranking employees.

1985

The company supplies and installs the machinery, equipment and cold rooms for the first modern slaughterhouse of Cyprus, in Kofinou.

The company completes the electromechanical installations for the largest pool in Cyprus at the Le Meridien Hotel.

1988

Caramondani Bros Ltd acquires 100% of TEU Conservices Ltd’s share capital and strengthens its presence in the field of container repair, refurbishment and leasing at the Limassol port.

1989

The company supplies and installs the first semi-automatic and automatic parking systems in Cyprus, at Larnaca airport and private projects

The 1990s was a period of hard work, marked by a focus on leading, innovative and top-quality technical projects, technologies and materials; attributes which reflect the Group’s philosophy since its initial establishment in 1959.

1991

Caramondani Bros Ltd installs the first indoor gas insulated 132 kV substations (GIS).

Caramondani Desalination Plants Ltd is established.

1993

C.N.C.P. Boat & Car Parks Ltd is established, through which the Group successfully offers services for marinas and car parks.

1994

The growing need for automated systems for industrial and domestic use leads to the creation of Caramondani Electromotion, a business unit of Caramondani Bros Ltd.

1996

Caramondani Bros Ltd imports the first electric car, as well as electric motorcycles.

Caramondani Spiral Ducts Industry Ltd is established to produce spiral ducting for the air conditioning and cladding industry.

Caramondani Desalination Plants Ltd wins a 10-year Build, Own, Operate and Transfer (BOOT) contract for the construction and operation of the Dhekelia Desalination Plant. It is the first Private Finance Initiative project (PFI) in the Republic of Cyprus,

Caramondani Bros Ltd undertakes the mechanical installations for Cyprus’ first waterpark, in Ayia Napa.

1996-8

JV Caramondani Bros Ltd - Caramondani Desalination Plants Ltd undertakes the M&E works and erection of Cyprus’ largest desalination plant to date, and the first to produce potable water utilising reverse osmosis

1997

The President of the Republic of Cyprus, Glafcos Clerides, inaugurates the Dhekelia Desalination Plant, capacity 20,000m3 of potable water per day.

1998

The capacity of Dhekelia Desalination Plant is extended to 40,000m3 of potable water per day.

1999

May

Caramondani Bros Ltd is listed on the Cyprus Stock Exchange (CSE), where its shares are traded under the name Caramondani Bros Public Co Ltd.

Caramondani Bros Public Co Ltd begins to implement the ISO 9002:1994 quality management system.

October

Caramondani Bros Public Co Ltd acquires a 59% stake of H.E. Prometheus Ltd.

November

Caramondani Bros Public Co Ltd begins its international expansion with the establishment of its branch in Greece. Caramondani Hellas, imports and trades quality materials and systems for contemporary construction needs.

"Respect your employees. This is my advice.
You can't go very far without them."
-Gerasimos Caramondanis

2000

Caramondani Bros Public Co Ltd registers the commercial name Caramondani Engineers for its contracting division

2001

Caramondani Desalination Plants Ltd acquires the Italian company Osmo Sistemi S.r.l. and launches an international presence in the field of desalination. Alongside its parent company Osmo Sistemi participates in international tenders for the supply, installation and operation of water treatment plants.

2004

January

Caramondani Bros Public Co Ltd updates its quality management system in accordance with ISO 9001:2000. At the same time TEU Conservices Ltd is certified according to ISO 9001:2000.

Caramondani Desalination Plants Ltd is awarded by the Pancyprian Safety and Health Council, of the Ministry of Labour and Social Insurance, in the ‘Food and Beverage’ and ‘Safety Committees’ categories in its ‘Aspida Asfalias’ (Shield of Safety) competition.

2007

June

Establishment of C.B. Holdings Ltd by Caramondani Engineering Consultancy Ltd and G. Caramondanis Investments Ltd, owned by the Stavros and Gerasimos Caramondani families, respectively.

Caramondani Desalination Plants Ltd signs a new 20-year BOOT contract with the Water Development Department of the Republic of Cyprus for a sea water desalination plant with capacity 40,000m3 of potable water daily. It designs and builds the new Dhekelia Desalination Plant.

December

Costas Charalambous assumes the role of Managing Director of Caramondani Bros Public Co Ltd.

Caramondani Bros Public Co Ltd opens an office in the city of Ningbo, China.

2008

February

Following a public offering C.B. Holdings Ltd buys out Caramondani Bros Public Co Ltd, with its shares withdrawn from the Cyprus Stock Exchange.

July

Dhekelia Desalination Plant increases its production to 60,000m3 of potable water daily.

2009

January

Caramondani Bros Public Co Ltd upgrades its quality management system and is certified according to ISO 9001:2008.

June

Caramondani Bros Public Co Ltd celebrates 50-years of success with the Group turnover reaching 50 million euro. At the celebratory event, Gerasimos Caramondanis emphasises that the key to success is respect for employees and hard work.

Their guiding principle, “You can depend on us”, which also became the company slogan, was passed on to all those working at Caramondani Bros. This was how the continuation of this impressive and successful journey was ensured

2010

The Cyprus Employers and Industrialists Federation (ΟΕΒ), the Ministry of Energy, Commerce, Industry & Tourism, and the Electricity Authority of Cyprus (EAC) award Caramondani Desalination Plants Ltd with the ‘Energy Conservation Award 2010’ for the company’s effective investment in energy saving technologies.

2011

Caramondani Desalination Plants Ltd is certified with the ISO 9001 quality management system.

2012

Establishment of M.M. Makronisos Marina Ltd. Following an international call for tender in 2010, the company signs a concession agreement with the Republic of Cyprus for the development of the Ayia Napa Marina, the cost of which is estimated to reach 300 million euros.

2013

Tapping into the developing natural gas exploration sector in Cyprus, Caramondani Group partners with Medserv Group of Malta to operate a logistics base in Larnaca port to support offshore drilling operations. Caramondani Bros Public Co Ltd becomes a 20% shareholder in the newly formed Medserv Cyprus Ltd.

2014

October

Inauguration of Caramondani Group new Headquarters in Pera Chorio Nisou.

The Caramondani Desalination Plants Ltd testing and calibration laboratory receives ISO 17025 certification.

2015

Gerasimos Caramondanis is awarded with the 2014 IN Business Lifetime Achievement Award.

Caramondani Desalination Plants Ltd is certified for the implementation of the Environmental Management System, ISO 14001 as well as for the Occupational Health and Safety Management System, OHSAS 18001.

In close cooperation with Caramondani Desalination Plants Ltd, Dϋchting Pumpen of Germany designs and manufactures a new booster pump which is put into operation for the first time at Dhekelia Desalination Plant.

2016

Construction of Ayia Napa Marina begins

2017

Joint Venture Caramondani Bros - Air Control wins the contract for the mechanical installations of 37-floor, 170m-high, ONE tower.

2018

April

Caramondani Bros partners with the world’s biggest marina builder, Bellingham Marine Industries of the USA, to form Caramondani Bellingham Ltd. The new company is awarded the design and build contract for the floating docks and dry stack storage of Ayia Napa Marina.

May

Inauguration of MM Makronisos Marina Ltd new offices and show room.

Caramondani Bros Public Co Ltd is awarded the electromechanical installations for the first phase of Ayia Napa Marina, pertaining to infrastructure, essential buildings and port facilities.

Caramondani Bros Public Co Ltd is awarded with the 2017 IN Business Award.

2019

January

Caramondani Desalination Plants Ltd signs a 25-year BOOT contract with the Cyprus Water Development Department for the design, construction and operation of the Paphos Desalination Plant, with a daily capacity of 15,000m3.

Caramondani Bros Public Co Ltd signs the biggest contract in its history for the electromechanical installations of the second phase of Ayia Napa Marina, pertaining to the residential and commercial buildings.

Caramondani Bros Public Co Ltd stake in Η.Ε. Prometheus Ltd increases to 75%.

The circumstances, the techniques and even the materials used by a contracting company today are far removed from those used in the early days of Caramondani Bros in the ‘60s. As such, adapting to modern technology is key for a smooth transition into the future. Caramondani Group, in line with the demands of a new era, now moves full speed ahead in its 7th decade of existence.

2020

Caramondani Bros Public Co Ltd is certified for the implementation of the Environmental Management System, ISO 14001:2015

Caramondani Bros Public Co Ltd is awarded the contract for the supply of ductile iron pipes to the Water Development Department for Kokkinokremmos.

June

Ayia Napa Marina completes pilot period operation and officially opens for boaters offering state-of-the art facilities for yachts up to 85m in length. It is the only marina in Cyprus to feature finger style berthing and dry dock facilities in a specially designed Drystack.

2021

Caramondani Bros Public Co Ltd is awarded the contract for the mechanical works of the Biology Department of the University of Cyprus.

May

Paphos Desalination Plant begins operation delivering 15.000m3 of potable water daily to the Water Development Department of the Government of Cyprus.

November

Ayia Napa Marina is awarded the prestigious European Property Awards 2021-2022 in the Mixed-use Development and Residential High-Rise Development categories.