A history of leadership and innovation

The company was established in Famagusta, making its first business appearance in 1956, when founder Phanos Epiphaniou decided to become a tradesman.  It wasn’t meant to be that way, as Epiphaniou took his early professional steps at the Bank of Cyprus and then transferred to Cyprus General Insurance, as an insurance specialist. But it soon became quite evident that Epiphaniou was not a desk career man.

Only a short time into his insurance job, in 1959, he partnered up with a group of professionals to create a small-scale construction materials business. The landmark move came in 1968, when he  registered his own  company in Famagusta under the name  Phanos N. Epiphaniou Ltd. , marking the start of more than a half a century of success. The company made a steady climb in the local market, as a sturdy business providing construction and agricultural production materials for the Famagusta area.

As luck (or perhaps expansion foresight) had it, Epiphaniou established a small Nicosia branch in 1973, but the main business activity remained in Famagusta. As fate would have it, following the 1974 invasion and destruction, the Nicosia store was the only support and backup he had in rebuilding the company almost from scratch.

A few years of tough rebuilding and the company never looked back. Almost half a century later it has developed into one of the largest commercial organisations of the country, focusing and specialising on materials, equipment and services for a wide range of clients in the building and construction industry.

Phanos N.Epiphaniou Public Ltd and its subsidiaries and affiliated companies serve clients across Cyprus with stores in all cities and two major distribution centres in Nicosia and Limassol, with impeccable structuring and effective organisation. The Group employs around 150 people.

Group subsidiaries

The company grew and expanded through other connected companies that complimented its own products and responded to market needs.

• 1983 saw the establishment of subsidiary Domoplex Ltd, an innovative wire mesh production company, marking the first Greco-Cypriot cooperation on the Cyprus market.
• Joint venture Cylift & Equipment Ltd (today’s Mitsulift), was established in 1988 between Phanos N.Epiphaniou Public and Lebanese Mitsulift and Equipment Ltd, dealing with installation, maintenance and service of elevators and escalators.
• Hydrotherm Ltd was acquired in 2000. It specialises on plumbing, heating and ventilation systems, with a leading market position.
• 2001-Sidep Ltd was established in Limassol in cooperation with Domoplex as an innovative industrial unit of cutting and processing iron for construction and concrete reinforcement for building sites.
• Stelmeco Ltd operated in 2008 as a Steel Service Center, specialising in the processing of steel and metal bars for constructions and metal trading.
• The subsidiary BigSolar Cyprus Ltd was established in 2013, as a joint venture of Phanos N. Epiphaniou Public Ltd partnering with the Greek company Big Solar Limited, forging one of the largest photovoltaic systems suppliers in Cyprus.
• This year, the Group entered the renewable sources energy sector through its partnership with Nanoki Ltd, also taking part as a stockholder in Petrolina Electric for the supply of electricity to the market.

Company structure and organisation

In more than half a century of business existence, the Group has developed clearly defined operational sectors under its mother company, functioning as independent commercial departments. They are made up by the Construction Iron & Steel Products department, the Technical Materials department, the Bath & Floors department, the Daikin Air Conditioning Systems section and the aluminium frames department.

Each department constitutes a separate business entity with adequate personnel and organisation, excellent knowhow and specialisation, catering to client needs and demands.

Circumstances have kept subsidiaries Hydrotherm Co. Ltd and BigSolar Cyprus as separate companies, as opposed to being fully integrated as commercial parts of Phanos N. Epiphaniou Ltd. Epiphaniou acquired Hydrotherm as part of a strategic decision to become involved in the supply of materials and equipment for central heating and plumbing systems, relevant to the rest of its activities and chose to keep it as an independent company.

Expansion through connected companies

One of the company’s strengths is the excellent professional relations it maintains with all the construction industry parties. Managing such relations is a major challenge in the day-to-day affairs and transactions. It is indeed a tough task to keep them going and to have inside knowledge of developments across all construction industry sectors.

The addition of a new series of products and/or services by establishing subsidiaries or forging associations and synergies, lies within the framework of the organisations’ strategic approach, as it also builds on existing relations.

The company is always seeking new commercial activities in the construction industry sector, but also in relevant fields, adding to its existing infrastructure. Epiphaniou is in a position to provide products for most major construction projects in Cyprus.

Moving towards a green economy

Thermal insulation and energy saving products are not new to the company. Epiphaniou has always been an innovator in the use of energy saving products awareness and has actively promoted this trend, as it gradually became part of professional advisors philosophy, was institutionalised by state regulation and is currently being promoted with attractive incentives to households and professional buildings.

Thermal insulation products have been available for more than three decades, resulting in significant knowhow and experience in the field.

Saving energy and using renewable sources will remain an integral part of our lives; the company will continue to keep abreast of developments and flow with the times with more product and services enrichment. The goal is to maintain its position as an expert and solutions-based organisation on energy issues connected with current and future needs of construction projects.

Epiphaniou keeps itself updated on the current trends of environmentally responsible practices, of the need to use sustainable materials and of reducing corporate environmental imprint.  Such moves will result in securing the company’s viability. In the framework of this strategy, it supports and participates in relevant actions, be itstate sponsored or private initiatives.

Second and third generation

Five family members are active in Phanos N. Epiphaniou Public Co Ltd.

The 2^nd generation includes CEO Nicholas Epiphaniou and members of the Executive Board and Senior Management, Andri Epiphaniou and Marina Epiphaniou – Clerides.

The Group’s 3^rd generation is represented by Alexandra Epiphaniou, Human Resources officer.

Proud of doing business right

What are we made of? Hard work, well thought out, prudent professional moves, strategic planning, respecting the laws and regulations, appreciation for our  associates, cooperation and solidarity are the values and qualities we cherish.

‘It’s the heritage bequeathed by founder Phanos Epiphaniou’, says CEO Nicholas Epiphaniou, principles that will never be relinquished.

He prefers to take the positives out of the pandemic crisis, including corporate realisation of the importance of health and safety in the workplace.

What’s it like heading an organisation founded by the business legend Phanos Epiphaniou?

Running such complex, sizeable and diversified organisation is demanding work extending to many sectors, both when it comes to business indicators and the financial environment, as well as human behaviour towards associates and employees. Our founder Phanos Epiphaniou set the bar really high and our corporate values and principles are largely based on his life and work. Keeping  a steady pace of growth and supplying the construction and building sector in a reliable manner, have been our pillars of success since our establishment.

GROUP DNA

What determined your DNA what does the history contribute to present and future?

The company was essentially rebuilt almost from scratch, with a great deal of hardship following the Turkish invasion blow, as the centre of its operations was in Famagusta. I believe that this massive effort determined our DNA to a great extent. Our steps are always the result of well-thought out strategies and planning. And we always try to be correct  towards our associates.

Being proud about doing business right, is really important to us. The company’s progress is based on solid foundations, securing viability. Our people feel safe and so do our clients, who continue to honour the company with their trust.

Landmarks

Which do you consider the most important moment in the company’s decades long history?

I would say that might include times when internationally acclaimed suppliers entrusted us with exclusive distribution for the Cyprus market and following years of success, came back with words of appreciation and their unwavering trust. We experienced positive moments also when innovative initiatives were incorporated into our operations, such as promoting energy saving in buildings, or using innovative processes to organise our company, with major benefits to our efficiency; also,when we joined new sectors, such as those of photovoltaics and energy. The financial crisis was one of the lows unfortunately, as we were forced to reduce our staff in order to survive. But we are happy that this is gradually being reversed and the Group is once again on the rise.

Memorable Story

Any memorable stories or incidents?

That would be a trip to Zenica in Bosnia-Herzegovina in 1990 (back then it was Yugoslavia). It was just a couple of years after I started working at the company and I decided to travel there to visit a major steel factory that considered cooperating with. I arrived in Sarajevo late in the evening and picked up a rented car to drive to Zenica.  There was no other connection to that city at that time of night. In a two-hour drive, the cars were few and far between. I was really getting worried because my rented car was in a bad state and did not look like making it all the way. I should note that this was the time before mobile phones. When I arrived at the city’s only hotel, or hostel rather, I realised that no one spoke English and communication would prove rather difficult. That was confirmed the next day, as my go between at the steel factory, who had basic knowledge of English, wasn’t there for some reason. So, I had no choice but to devise some kind of sign language. To cut the long story short, we found a way to get through to each other at the factory -don’t ask me how- and we did launch a cooperation. It didn’t last very long however, as the war in former Yugoslavia broke out and Zenica came to be right in the middle of it, forcing the factory to shut down for a number of years. It was rather an adventure for me, right at the early stages of my career, still quite young and rather inexperienced as I was.

Advice

What advice did the founder give you and other family members involved in the Group?

Hard work, well thought-out expansion and diversification moves through planning and strategic thinking, respecting the laws and regulations, appreciation for associates, cooperation and solidarity. In general terms, that was the framework of values and principles, the heritage handed down by our founder and my father, who is still a very active President of the Group. Our focus is both quality of products and services as well as high operational and working standards.

Strong managerial team

What’s it like heading a Group with so many and diverse operations?

Diversification creates the need to expand our knowledge across many sectors, devoting a great amount of time and energy into that kind of knowhow, as well as being methodical in the process. It’s also necessary to be supported by a team of reliable, knowledgeable managers, each specialised in their field, who can effectively handle their sector through a mutually agreed framework. We have forged a team of quite astute managers, cooperating and interacting with each other and the CEO, aiming at the best possible results.

Corporate Social Responsibility

How does this responsibility translate into action?

Our organisation is fully aware of both its social as well as environmental responsibility. This is why late last year we officially launched a process of designing a corporate social responsibility programme and integrating such action in our strategic planning. We’re at the phase of identifying all the substantive issues that we will focus on. A specialised advisory company has already trained our managerial team on the significance of Corporate Social Responsibility in all aspects of our operations and the impact it could have on the organisations’ viability. It’s always been a tradition to give back to society, we consider it a duty. During our 50-year anniversary celebration, we successfully implemented a programme of 50 initiatives which supported various charity associations and organised groups, donating 50 thousand euros, with active involvement of our people in the process..

Post-pandemic

We’re in a tough situation. The pandemic followed in the footsteps of the financial crisis before the economy had a chance to recover. How do you see things developing in the post-pandemic era?

The covid era brought about a series of difficulties but it also  speeded up the implementation of various new methods facilitating work practices through technology, both in our company and in general. It’s now possible to work from home, online conference calls became our new routine, and other technological advancements have made communication easier and work moreefficient.

Consumers, as well as our clients, who are mostly businesses, have raised their expectations for accurate information and new ways of transaction services through the internet.

The pandemic experience has also forced companies to realise the huge importance of health and safety in the workplace, designing creative and innovative ways to protect employees and to secure continuity of work. I believe that organisations also became more humane, offering support and understanding to health issues connected to the pandemic, that have come down hard on a major part of their staff and associates.

Post-pandemic, the innovative ways that were established will certainly be maintained; we shall also come to really appreciate human presence and personal contacts that were sorely missed.

A word on our founder, Phanos Epiphaniou

He was born into a poor agricultural family at the Famagusta district community of Milia, now occupied by Turkish troops. He grew up with four siblings in a household always striving to make ends meet through farming, livestock and trading agricultural and animal products.

His parents believed in the value of education, a rare quality that could not be afforded during such hard times; so, after finishing the community primary school, he moved on to the famed, distinguished Pancyprian gymnasium of Nicosia.

Straight out of school, he found employment at the Bank of Cyprus and also found the time to further his education  with studies connected to the insurance sector; as a consequence, he was transferred from the Bank of Cyprus to Cyprus General Insurance.

A desk though, wasn’t his vision. In 1956 he partnered up with similar minded individuals to forge a construction material business. The first step to an illustrious business career came three years later, in 1959, when he founded his own business in Famagusta at just 25 years of age.

The post independence era-1960 onwards- created favourable conditions for the new country’s rapid economic growth. This wave of development, coupled and complimented no less by the rise of Famagusta as the island’s top tourist destination, saw the Phanos N. Epiphaniou business booming and expanding. As fast as it grew, it came to a sudden, violent halt with the Turkish invasion of 1974 and the occupation of Famagusta.

The Epiphaniou family became refugees in their own homeland, following the tough road of starting again, like dozens of thousands of other families. Initially they moved to Dhekeleia, then Limassol and finally Athens, where they found refuge for a year at the home of close associates.

The Group’s central offices in Nicosia.Phanos Epiphaniou didn’t travel with them. He stayed back, working hard to relaunch the company, returning to the market. It paid off. In the years to follow, with his children alongside his footsteps after finishing their studies, they all managed to develop the company into a multi-dimensional, innovative organisation. Patience and persistence were the qualities that paved the way to success.

Phanos Epiphaniou was not just a man of business. He was a believer in giving back to society. As such, he played an important role in finding jobs for refugees, particularly Famagusta locals. He served as President of the Cyprus Chamber of Commerce and Industry for two terms, 1990 to 1996, while previously leading the Famagusta branch of the institution, from 1974-1984. He was also Famagusta mayor for a short while.

He lives in Nicosia with his wife Militsa, still actively involved in the Group, along with his children, who have taken over the management of the company, since a number of years now.

Hard work, reliability and respect

‘Moving forward with work ethics, reliability and well thought-out strategies, have all contributed to the Group’s successes, says the management of Phanos N. Epiphaniou Public Ltd.

Of equal importance is following in the values and principles of the founder, respecting associates, employees, clients and suppliers. The company’s foremost treasured corporate value is the on-going development of human resources, both at a professional and at personal level. As part of this established framework, the organisation has set up knowledge and further training networks, regularly and systematically educating personnel in modern ways, utilising technological advances.

‘Our ethos and credibility’, management adds, ‘is on the same level of significance. It forms the core of our trade transactions since establishment, earning the valued appreciation of its associates’.