Word: piraiki
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Dates: during 1962-1962
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Some Greek industrialists shudder at this prospect, but not shrewd, cultivated Christopher Stratos, 38, the managing director of Athens' bustling Piraiki-Patraiki Cotton Manufacturing Co. By using things Greece has plenty of-cotton and cheap labor-Stratos has made his family-owned company a model for all of Greek industry. P.-P., which currently employs 3,900 workers at five modern mills, last year earned $1,000,000 on sales of $16 million. More important from a national point of view, the company's export sales to Western Europe are steadily climbing, so that...
Overcoming the Lag. Piraiki-Patraiki (pronounced Pea-rye-key Pat-rye-key) was founded in 1919 by two textile salesmen and puttered along nicely until World War II left its mills in ruins. Rebuilding did not begin until after Greece's civil war with the Communists ended...
Filling a Vacuum. Piraiki-Patraiki's profit is not without honor in Greece. Impressed by the company's export successes, the Greek government is offering a cash reward to farmers who switch from growing wheat to cotton so that Greek mills will have more textiles to sell abroad...
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