A young Greek designer, Georgios Michael (later credited with the design of several Greek vehicles) was employed with the new company.
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In 1997, it acquired another big shipyard, Elefsis Shipyards, while it diversified into new fields (like the construction of luxury mega-yachts, and even subcontracting work for aerospace companies) and is fully active today in the form of the powerful Neorion Group of Companies, having entered a new era in its long history.