Pyrkal

Establishment and development

The company "Elliniko Pyritidopoieio A.E." (Greek Powder, Chemical, and Industrial Products) was founded in 1874, and "Maltsiniotis Brothers" (Cartridges and Metal Products) in 1887. In 1908, the two companies merged to resolve a rivalry over ammunition orders from the Greek state. This merger resulted in the formation of a new company called "Etairia (Ellinikou) Pyritidopoieiou kai Kalykopoieiou," with the initials EEPK or EPK (ΕΠΚ) — the acronym later used for Pyrkal. Internationally, it became known as the "Greek Powder and Cartridge Company" (GPCC) in English, and "Poudrerie et Cartoucherie Hellénique" (PCH) in French.

Starting with the production of ammunition such as 6.5×54mm Mannlicher–Schönauer ammunition for the Mannlicher–Schönauer rifle, as well as a variety of explosives (which included bombs used by Greek aircraft in aerial bombardment in 1912, during the First Balkan War), the company expanded to a variety of additional activities. These included arms manufacturing - most notably the development of the advanced EPK machine gun just before Greece's entry into World War II - as well as construction of machinery (including diesel engines), vehicle bodies, tools, factory infrastructure, boilers, and even aircraft, as it undertook constructions for the AEKKEA-RAAB company.

1970s and 1980s: change of fortunes

The company suffered a significant setback when the Greek state established the Hellenic Arms Industry (EBO) in 1976. EBO initially took over the production of the Heckler and Koch G3 rifle, which was adopted by the Greek Army, replacing the FN FAL that Pyrkal had already begun producing under license. While a number of FN FALs had originally been purchased by the Greek military from Belgium, Pyrkal had produced about 30,000 units for export to other countries. EBO's development severely impacted Pyrkal, as the two companies offered partially overlapping products. Pyrkal was further weakened by the loss of traditional export markets in the 1970s. Other parts of Bodosakis's industrial empire also faced difficulties, leading to state intervention in the early 1980s. In 1982, Pyrkal, nearly bankrupt and a shadow of its former self (though still employing thousands), was nationalized. Since then, its financial performance has been unstable at best.

Despite challenges, the company has invested in diversification and research and development, expanding its activities beyond the production of various ammunition types, mines, bombs, fuses for large-caliber high-explosive ammunition, and electronics. It also participated in programs such as the European post-production program for the Stinger missile and, as an equal partner, in the development and production of the IRIS-T missile. Additionally, in the early 1990s, it introduced its own advanced (though controversial) cluster bomb and, in 2002, constructed Greek-designed modern wind generators. In 2004, echoing a move made nearly a century earlier, Pyrkal merged with Hellenic Arms Industry (EBO) to eliminate competition between the two companies for state orders, forming Hellenic Defence Systems.