Established in 1968, Pegasos Refrigerators Industry Ltd, has grown to one of Cyprus largest industrial manufacturing industries. Originally the company was located in a small workshop at Kaimakli, focusing in the manufacture of commecial refrigerators for Butcheries, Supermarkets, Restaurants, Hotels etc.

In 1976 the company expanded its activites and moved to the newly build company owned factory in Strovolos Industrial Area.