Greycon
From Wikipedia, the free encyclopedia
| Greycon Ltd | |
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| Type | Private |
| Founded | 1985 |
| Headquarters | London, England |
| Key people | Constantine Goulimis, CEO |
| Industry | Information Technology |
| Products | X-Trim, S-Plan, D-Opt |
| Employees | 68 (2007) |
| Website | http://www.greycon.com |
Greycon Ltd is an information technology firm based in London, England developing software for scheduling (production processes) and the cutting stock problem primarily for the paper, film and nonwovens industries. The company's solution for the cutting stock problem is responsible for savings equivalent to 0.5–1.5% of production, with important environment and financial benefits. It is used, among others, to optimise more than one third of total North American paper production and in the largest paper mill in China. Greycon tools are also used in the production of all UK banknotes.
In April 2008, Greycon introduced a new product for block scheduling and production cycle optimisation solution called D-Opt. D-Opt has been selected as a finalist for the Innovations award by SoftwareCEO in the Vertical Industry category.
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[edit] Beginnings
Greycon is a spin-off company, founded in 1985 by Prof. Greyham Bryant, Dr. Constantine Goulimis and Mr. Alexander Dimitriadis of Imperial College to capitalise on research in production planning and scheduling for the paper industry.
[edit] Aims
Greycon develops and implements solutions that contain elements of mathematical optimisation and are used in supply chain problems in the paper, film and nonwovens industries.
[edit] Tax case
Greycon was involved in a legal challenge regarding taxation of key-man insurance policies in the UK. When Alex Dimitriadis died in April 1999, the company received the benefits of a key-man insurance policy. The Inland Revenue wanted to treat this as taxable income, but Greycon challenged this in the courts and won, thus establishing that not all key-man policy receipts are trading income, particularly where the policy is taken out for a clear capital purpose.
