In 1943, in the midst of adverse socio-economic conditions, exacerbated by the 2nd World War, a group of progressive winegrowers and striking workers from another wine industry, established in Limassol the People’s Distillery Company of Limassol (LOEL).
This is the first wine industry in Cyprus organised in the form of a joint-stock company.
In essence, it was the first public Company in Cyprus, with thousands of shareholders, most of whom winegrowers.
The first products were spirits and wines, made from indigenous varieties, while in the mid-1950s LOEL expanded its range, using grapes from all Cyprus regions.
Full story here: https://xryseseteries.philenews.com/en/loel/
