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New York Post : Trade and Industry in Cyprus

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Supplement: NEW YORK POST; May 2001
Symeon Kassianides founded Hyperion Systems Engineering Ltd. in 1993 with the assistance of NASDAQ-listed Aspen Technology Inc. His company is a specialist provider of products and services to the process industry. Its main activities include dynamic simulation (DS) and operator training simulators (OTS), supply chain management (SCM), advanced process control (APC), enterprise resource planning (ERP), and expert systems software development. “I decided to come back from the United States to Cyprus and take the personal challenge of starting my business here,” explains Kassianides, CEO and Chairman of the Board of Directors. “My advisor at MIT was and still is the CEO of Aspen Technology Inc., and our company is today in close cooperation with them. We execute work channeled from them and facilitate their sales process in this region by providing technical support. In addition, we sell directly and are also in the process of extending our services to medium sized firms.” Aspen Technology Inc. is a 30 percent stakeholder in Hyperion, which now has 63 employees and offices in Nicosia and Athens. “We provide custom-made solutions for the process and manufacturing industry, solving industrial problems in a software environment,” says Kassianides. “We are a high-tech specialist who has worked with big names such as Dow Chemical, BP Amoco, Texaco and Qatar Gas, to mention a few. Our strengths are highly skilled personnel, and the fact that we see all the projects through, and then start with new endeavors.” Hyperion’s high quality, custom made solutions have attracted international recognition from customers in the United States, Europe, Japan and the Middle East. It has become a key player by enabling industry to increase overall production efficiency through the development, adaptation and application of new technologies. “We have become a significant player in specialist high-tech services in the eastern Mediterranean and in the Balkan countries,” says Kassianides. “We have grown, since we started, 100-160 percent per year and doubled our staff. We are the largest employer of chemical engineers in the service sector in the region.” In 1996, Hyperion was the recipient of the Cyprus Federation of Employers and Industrialists’ Service Award for outstanding business performance and creativity, and in 2000 for the quality of its services and its financial performance. Kassianides, who is a lover of art and music as well as a shrewd businessman, was appointed as a member to the council of the Cyprus Stock Exchange in June 1999. “Before the end of this year we aim to set up an office in one of the Balkan countries,” he indicates. “I see the flotation of our company also in the foreseeable future.”

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