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Biamax was founded in 1955 by Michael C. Phostiropoulos and developed into a leading manufacturer in the Greek coach-building industry until production ceased in 1984. It specialised in the construction of buses, in particular city, long-distance and tourist buses and refrigerated lorries, such as the R495, F580 and O303 equipped with Mercedes-Benz diesel engines.

The growth and success of Biamax were based on gaining the trust of the market due to the advanced design, reliability, and quality of the vehicles sporting the Biamax signature. Biamax set new standards in the Greek market with regard to the technical training of its workforce, investing in research and development and applying stringent quality checks. A big share of the output of the bus production unit in Athens and of the refrigerated lorries production unit in Thessaloniki were exported to markets in Africa as well as the Near and Middle East.

When Greece entered the European Economic Community (EEC) production ceased as there was no longer a reason for operating independent production units within the common market. The company then moved on to become the exclusive dealer for Greece of car, bus, lorry, tractor, and excavator producers such as Rover, KIA, JCB, DAF, Landini, ISEKI, David Brown, Steyer, Case, IMT. In 1999, the European Commission decided to no longer permit the traditional practice of car manufacturers with regard to granting exclusive geographical area distribution rights to franchise holders and Biamax proceeded with the sale of the above mentioned franchises and has since been focusing its activities on real estate and facilities management.