Allgeier Ltd. Cyprus established

Cyprus, January 20, 2011 – Allgeier announced today the establishment of Allgeier Ltd, a new subsidiary in Nicosia, Cyprus. The new company, whose mission is to expand Allgeier’s sales in south Europe and the Middle East, begins operations today, January 20, 2011.

In 1985, Allgeier established Allgeier Computer NV. This company has served as a base for sales promotion efforts aimed at growing Allgeier’s business in Belgium. Later, Allgeier Computer BV was established, to expand the sales in the territory of the Benelux. This strategic region in the heart of Europe has been recording impressive economic growth in recent years. 

Allgeier has established the new subsidiary in Cyprus, due to the importance of its growing business in Cyprus, with the aim of further strengthening its sales in the Middle-East and south Europe. This region is home to more than 100 million people, and the geographical advantage conferred by its proximity to Europe and the membership of Cyprus to the European Community is another reason to expect further growth into the future. 

Allgeier Ltd is Allgeier's first sales subsidiary in the south European region. The new company will carry out marketing operations aimed at the south European and Middle-East market for Allgeier's solutions for Document Management Systems and Document Services, which are enjoying strong market growth, as well as other products including Allgeier’s Medical Viewer, invoice recognition and document classification. With the establishment of the new company, Allgeier will seek to expand its distribution channels on a product by product basis. At the same time, it will seek to expand the scale of the business through marketing that is closely tailored to the local market.

Contact details:

Allgeier Ltd
Sotiri Tsangari Street
Alexander Court 4 , 401
2400 Nicosia - Cyprus

Phone +32 486 137 231

Allgeier also announces the appointment of Stéphane Horta as Chief Executive Officer of its newly established subsidiary Allgeier Ltd, effective from mid January 2011.

Having established an excellent reputation for his leadership of Allgeier’s subsidiaries in the Benelux, the Allgeier Group's ambition is to capitalize on Horta’s experience to expand its success across Europe. The Group continues to benefit from a strong capital position, excellent products and conservative risk management culture.

Allgeier’s strategy to strengthen its Document Management offering, business lines traditionally associated with Allgeier Benelux historically strong in the medical market, is further demonstrated by today’s completion of the establishment of Allgeier Ltd in Cyprus.

 Allgeier is delighted to welcome mr.Horta as CEO of Allgeier Ltd. In an already distinguished career, spanning over 25 years at Allgeier, mr. Horta has held significant management roles in several Allgeier subsidiaries. He has also been instrumental in successfully founding and driving forward new businesses in the Benelux area.

“By creating a dynamic and diverse Document Management organisation under the Allgeier brand we are able to offer an impressive breadth of advisory and development services under one roof, making sure each solution fits our client’s individual needs – be that for the public or corporate markets”, Horta comments. “I am delighted to be joining Allgeier Ltd as its new Chief Executive. This is a unique opportunity to play a key role in the next stage of development of an illustrious brand. I am looking forward to working with the Allgeier Benelux team to build on its strong track record.”

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