Thermolith S.A. started as a privately owned company, in 1998 in Kalyves, Northern Greece, for the production of basic unshaped refractories for the steel industry. In 1998, Themolith S.A. established a subsidiary company in the area of Skoumtsa, Grevena, in order to exploit mineral olivine, a refractory mineral used in the manufacturing of shaped and unshaped basic refractory products as well as slag conditioner and EBT filler sand in steel manufacturing.

Soon, Thermolith S.A. was established in the Greek market as a reliable partner and a consistent producer of high quality olivine and refractory products. For more than a decade, the company served all Greek steel producers dominating the Greek market and exported 60% of its production to Europe, Balkan Countries and Africa, thanks to its proximity to Thessaloniki, the major logistics hub in Northern Greece.

Through an extensive investment plan aiming at expanding into new markets, the company has increased its sales significantly in the last five years. In December 2011 Thermolith SA sold 70% of its shares to Aeiforos SA, member of the major industrial group in Greece VIOHALCO, which took over the management. After the acquisition, Thermolith SA has gained access to the know-how in crushing and screening technologies of the parent company Aeiforos SA which has a long and thorough experience in the production of aggregates, mortars and anthracite coal production. Moreover, through Aeiforos SA, Thermolith SA gained direct access to private bulk sea shipping facilities in Central Greece as well as benefits from multiple synergies in sales and logistics.

As of 1.1.2020 the personel and activities of Thermolith S.A. are encorporated to those of Vitruvit S.A. thus achieving a faster growth rate and targeting to an even higher position at the global markets.