Pitsos A.E. (Πίτσος) was founded in Athens in 1865 and began as a company manufacturing small household appliances and oil heaters. In 1959 it began production of fridges in a new factory; it soon invested heavily on the development and production of a wide range of modern home appliances, including TV sets. Other metal structures, including 3-wheel pickup trucks were also produced.[1] In 1976 it was bought by Bosch-Siemens Hausgeräte GmbH. In 1996 was rebranded to "BSH A.B.E. Ikiakon Syskeyon". Gaggenau and Neff joined the group in 1998 and 2002 respectively. The company was rebranded to "BSH Home Appliances" ("BSH Ikiakes Syskeves A.B.E"). It then boasted a leading position in the Greek household appliances market with a market share of approximately 40%. Its revenue reached €308 Million in 2005.[2] Approximately one third of the total revenue came from exports mainly to Europe and the Middle East.
Production facilities were located in Rentis, near Piraeus, and the company employed 1200 personnel in 2007.[3] By that time it remained the leading white goods manufacturer (such as refrigerators, fridges and ovens and, decreasingly, washing systems) in Greece producing 400,000 units per year, 30% of which for export.[3]