Jules Dey, a French chemist, founds the company in the “Nea Chora” district of the city of Chania.
Τhe company is repurchased by the Sahel Tunisien company. In order to help with the factory functions, the first gap on the city wall is made on the western side, at the location of the San Salvatore gatehouse on the year 1899. The building permit was issued by the “General Administrative Council of Crete”.
Repurchase and founding of anonymous company by the name Anonymous Enterprising Company “ANATOLI” by the local businessmen P. Markantonaki, K. Naxaki, K. Manousaki and G. Kasimati. The first article of association is signed by the temporary government of El. Venizelos in Thessaloniki on the 16th of January 1917.
The factory is rebuilt and operates successfully till WWII. Repeated air bombings destroy large part of the infrastructure. The damage was rebuilt in the post-war period and operations resumed.
Creation of a cooperative company with representation by the various produces of the Chania prefecture.
Relocation and renovation of the pomace and soap making plants of the company in the municipality of Keramia in the Chania prefecture.
The relocation and modernization of the olive oil press, packaging and reception departments, along with the central administration offices at the Agrokipio location of the El. Venizelos municipality, in the Chania prefecture is complete in 2004. Additionally the relocation of the soap production and refinement plants are moved to the municipality of Keramia.
51% of the company stock is bought over by the cooperative bank of Chania.
During its long history, which spans three centuries, ΑΒΕΑ has faced numerous difficulties, experiencing two world wars and several recessions. ABEA’s ownership status has also changed a number of times during its storied history.
The old factory of AΒΕΑ has its own history, leaving a vivid imprint on the social and financial life of Chania as a city, the island of Crete and the country in general. The study of industrial history and heritage has a particular significance for areas such as Crete, where industrial development emerged much later compared to other European countries.
Taking advantage of the industrial revolution was very difficult in 18th-19th century Chania, as a result of socio-political conditions. Crete was under Ottoman occupation, coal as a fuel was simply not available, and entrepreneurship was nonexistent.
The foundation of ABEA near the end of the 19th century (1889), was a milestone in the modernization of the economic life of the country, as it was the first such company in Greece and one of the largest in the Mediterranean. In 18th century Crete, olive oil was the main export product. As a result, ABEA, due to its association with the main agricultural product of the region, helped form an independent economy on the island, supporting the agricultural sector and providing employment to a large number of city residents.