ASBIS Revenue Grows 32% from 2000 to 2001

With its corporate business update ASBIS proves its leading position in the region

ASBIS, the leading distributor of computer components in Eastern Europe, has achieved $375 million revenue for year 2001, representing 32% growth compared to 2000 (285 million USD). ASBIS also shipped a record number of hard drives this year– over 1,750,000 units. This represents a 46% increase from 2000 (1,200,000 units).

In the second half of 2001, ASBIS saw extremely strong growth across all of its regions for all product groups. Business in Russia and Ukraine was particularly strong, buoyed by large government tenders and by small and medium size businesses.

In the second half of 2001, ASBIS strengthened it management team by appointing Paul Griffin as Executive Vice President for Sales and Marios Christou as Chief Financial Officer.

Paul joined ASBIS from IBM where he was Vice-President of Distribution Sales for their Technology Group for Europe, Middle East and Africa region. Paul has over 20 years of experience in international sales and marketing in the computer industry, specialising primarily in storage and has held executive positions both in the United States and Europe. Prior to IBM, he was Director of Marketing and Distribution for Seagate Technology, EMEA region.

Marios Christou joined ASBIS as Chief Financial Officer from Photos Photiades Breweries Ltd (‘the Carlsberg Group of Companies’) where he was financial controller. Prior to that Marios has worked with Deloitte & Touche, Limassol for four years, holding the position of an audit manager. Marios has a B.A. (1992), dual major – Accounting and Information Systems, and Economics from Queens College of the City University of New York, an M.B.A. (1994) in International Finance from St. John`s University, New York. Marios is also a Certified Public Accountant (CPA), member of the American Institute of Certified Public Accountants (AICPA).