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OLIVERA ZULOVIĆ, manager for affluent and private banking clients, Societe Generale


High Standards For Demanding Clients

We Bring Innovation To The Market


STEVAN JOVIĆEVIĆ, general manager, Tahograf BG d.o.o


Modern Solutions For Transport Industry Operations

Ready For New Challenges


ZORAN SIMIĆ, general manager at IMMO CLEAN Belgrade

TAMARA MILOVANOVIĆ, General Manager, VELUX Srbija d.o.o.

Cleanliness Before All

From The Attic - New View


MISCHA JOVANOVIĆ, CEO, Aquawell Group AG Switzerland


New Niche Player

We Are Ready To Compete


DR IGOR RISTIĆ, Center for Dental Aesthetics and Implantology

Digital Technology In The Service Of Dental Treatment




High Standards For Demanding Clients In Societe Generale’s Affluent Banking Department, we follow the needs of two segments: Avantage clients and Private Banking clients. The first business model is designed for clients who want professional support in planning their personal finances, and the second includes investment support and advice users who have high expectations of our offer and products that support their lifestyle, but also of the professional support that they receive from their bankers. Societe Generale is a financial institution that can offer them this with added value – they can dispose of the first online branch where they can carry out the most demanding banking services without going to the bank, gold cards and various privileged services. Our solutions give them security in planning their personal finances, whether they invest in real


of a specific group of clients at the end of last year. Using the recognised knowhow of SGPB, Societe Generale Serbia strengthened its team and offer, so as to provide access for our clients to services and advice of an exceptionally high quality. In this way we have made it possible for clients to access a wider range of products, especially solutions that relate to planning real estate and advising on domestic and foreign investment.

n the private banking sector the French group Societe Generale is taking a leading position not only in its home country but generally in Europe. The prestigious magazine Global Finance has declared Societe Generale the best in private banking for 2017 in France, Monaco and for business people in western Europe. Olivera Zulović, manager of Societe Generale’s Department ■ What differentiates your bank from the for Affluent and Private Banking has been competition in this segment? speaking to Cord about the readiness of It is important to save our clients’ the Serbian market for expanding private According to our clients’ needs time, which is why they use the online banking and the needs of local clients for branch to communicate with the bank we have formed a set of investment banking services. even after working hours and during conveniences that business the weekend. In the online branch they people and clients in this ■ What services does your bank offer can make a request for an overdraft or affluent clients? credit, while the products intended for segment demand of us – a In affluent banking in Societe team of experts together with them also have exclusive conditions. Generale we follow the needs of two In our daily work we have noticed that products, projects and segments: Avantage clients and Private clients best of all like the National solutions that are very Banking clients who are connected in Bank’s median rate in foreign exchange several aspects. We are very proud to business. Societe Generale has credwell received ibility on international markets and be at the service of all. Avantage is a estate, plan their children’s education or huge experience, and the support of the business model intended for clients who are opt for saving or insurance. group’s experts through investment advice seeking professional support in planning in Private Banking is also made available to their personal finances and Private Banking ■ Are all the solutions that you offer on Avantage clients. includes support and investment services. mature markets available to these clients? Societe Generale has credibility on international markets and huge experience, and With the support and expertise of ■ What are the specific characteristics of the support of the group’s experts through Societe Generale Private Banking (SGPB), this market sub-segment? investment advice in Private Banking is also Societe Generale expanded its private Clients who use Private Banking services and Avantage clients are bank service made available to Avantage clients. ■ banking offer for managing the estates 36 |





We Bring Innovation To The Market This is a very competitive industry, and we want to keep our leading position. Volvo has been a leader in the development and application of unique technologies for decades, often not only in Europe but also worldwide


ver the past nineteen years that we have been doing business in Serbia, we have learnt to see every challenge as a chance for development, says Dragana Krstić, CEO of Volvo doo Novi Banovci. ■ What are your business goals for this year? - In 2017 we hope to increase our market share and build our network of satisfied clients. We want to be the most successful truck producer in the region, to maintain our position as market leader and to be the first choice for transport companies. These are our main goals. They reflect the continuity of our ambition to be a leader and to keep aiming higher. This is a very competitive industry and we want to keep our leading position, constantly looking for the best solutions for buyers who put their trust in us not only by buying our vehicles and services but by being our long-term partners. ■ What sets Volvo Trucks apart on the Serbian market? - This is really a question for our clients, who have worked both with us and with our competition for the past nineteen

years. In my opinion, and I believe that we have proven it, the key is in our partner relationships with buyers and in offering complete transport solutions for the entire life cycle of our vehicles. Volvo has been a leader in the development and application of unique technologies for decades. One of the more recent innovations is the dual-clutch transmission, the first of its kind in serially produced heavy-duty vehicles in Europe and in the world. On the Serbian market Volvo is unique as the only company that offers the most powerful truck on the planet, with a 750 hp engine. A few of these vehicles are already part of the fleets of some Serbian hauliers. For our continued success we can thank the

We are here for our clients at any time, always interested in reliable and long-term cooperation, which often becomes a partnership with mutual satisfaction quality of our products, professional provision of services and relentless work on the development of our products and our staff. ■ In which economic sectors in Serbia are Volvo Trucks most prevalent? - In long-haul transport, tractor units and FH solo trucks for international transport are in greatest demand. The FH truck family is the backbone of Volvo’s sales in the whole of Europe. We offer a wide range of these vehicles, which can be configured to

the buyer’s exact requirements. Another popular truck family are FM medium-duty trucks, FMX trucks in particular. These are bought by building and construction companies, companies doing road maintenance and bulk goods transport. ■ How do you keep your buyers up to date with innovations in your new models? - Every business including the transport industry goes through changes that take some adjusting to. We have chosen a more ambitious road – to bring innovations to the market. Among the latest ones in our Volvo trucks are I-Shift with crawler gears and Volvo Dynamic steering. We have always communicated directly with our clients. Every event has practical and theoretical components. To constantly improve and progress, we need feedback from our clients. This is why we often practice truck driving in real conditions and this is what attracts a great number of clients. Direct contact is our feature ‒ we are here to listen to need of our clients and find the best solutions together. In addition, by publishing our corporate publication Volvo Novosti twice a year, we inform our clients and educate them about new technologies. Of course, essential to our promotion are visits to our factory and the Demo Centre in Sweden, where clients can get acquainted with our production processes, logistics, attention to the quality of vehicles and our care for environmental protection on the spot, at the assembly lines. ■ APRIL



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Modern Solutions For Transport Industry Operations The use of modern technology enables operators to properly record working hours, regularly maintain records on vehicle fleet usage and fuel consumption, as well as planning operational costs using automated processes ern technology that automates processes, enables transport companies to raise the efficiency of their work, reduce administrative procedures and act preventatively. ■ Which of the market’s stakeholders recognised the use of tachographs as a means of contributing to increasing the efficiency of operations? - Those are mainly responsible transport operators who are aware of their important social and environmental impact, not disrespecting road safety, while seeking


■ To what extent has the Law on Drivers Working Hours in Road Transport and Tachographs proved functional in terms of improving traffic safety and regulating this important area? - The Law on the working hours of vehicle crews engaged in road transport and tachographs has already an important positive impact on road safety, especially on motorways, since regular roadside checks have been enforced by traffic police officers from the beginning of its implementation. Since it aligned previously divergent rules for national and international operations, the enforcement became easier and uniform. The implementation of a risk assessment system will proportionally increase the supervision of transport operators of high and critical risk level, whose reckless drivers commit or repeat serious infringements or perform manipulations.

ahograf BG is a representative of German manufacturer Continental and its VDO member for Serbia and Montenegro. The company’s key clients are workshops for tachographs and transporters seeking effective solutions that will improve their business process. Those transport operators The Law on Drivers Working Hours who are aware of their in Road Transport and Tachographs, adopted at the end of 2015, brought important social and modern solutions in the regulating of environmental impact are working times for professional drivers, increasingly seeking options devices for recording working time, that will improve road safety, and innovated working conditions for tachograph workshop. These legal profitability and sustainability ■ How much can the solutions you changes, introduced as part of the offer be adapted to the needs of indiin their everyday operations process of harmonising domestic legisvidual users? - Since transport operators have differlation with the European legal frameto improve their image and achieve profitwork in this area, are primarily important ent requests regarding vehicle and driver for hauliers dealing in international data transfer, updating intervals, analysis ability and sustainability in their everyday transport, as well as for Serbia’s EU accesand monitoring, the use of modern inforoperations. They range from large logission process. Consistent application of this tics operators and international freight mation technology becomes a must. With law should contribute to enhancing road transport operators to small national/ a need to reduce time delays arising, we safety and better regulate the functioning local distributors, as well as internarecognised the importance of remote data of the transport industry. downloading – for which we offered the tional passenger carriers. Tachograph With the introduction of analogue and DLD device, which is proven to save time workshops and technicians also play an digital tachographs, it is possible to raise and money, to transport operators. Modern important role in an efficient tachograph the efficiency of the work of professional technology offers numerous options and system, implementation by disseminating drivers and reduce hauliers’ costs. Proper customisations. Likewise, the VDO counter best practises to commercial vehicle ownrecording of working hours, coupled with function can be activated on each digital ers and valuable experience on the proven regular record keeping and the use of modtachograph of the latest generation. ■ benefits of tachographs. 38 |




Ready For New Challenges Groundstaff work and handling aircraft at Belgrade Nikola Tesla Airport is carried out, alongside Air Serbia staff and the airport operator, by private company SKY Partner


couple of years ago a private company engaged in providing aircraft ground handling services began operating in Serbia for the first time, at Belgrade Nikola Tesla Airport. This company is included in all operations related to the arrival and departure of planes from the airport, but also in-flight assistance. Then there is aircraft operations, passenger boarding and disembarking, cargo loading and unloading – an entire range of elements linked to a flight itself. There is marshalling, aircraft push-back, aircraft balancing during loading, supplying drinking water, cleaning of toilets and plane interiors; everything that could be described as being “behind the scenes”. At the tender launched in 2015, the winner, alongside Air Serbia, was SKY Partner, which received a contract to perform these services at this airport for the next five years. With the State having limited the number of such operators to three, alongside the airport operator and Air Serbia, the third and only private company engaged in these operations is SKY Partner. ■ Last year was a record year both in terms of the number of flights and the number of passengers passing through Nikola Tesla Airport. What is the limit of

your operational capacities? - Nikola Tesla Airport undeniably continued to record growth in numbers of passengers and we all witnessed that. Growth is also being recorded in terms of airlines, domestic tourism and companies like ours - providers of services for passengers in a key segment of air transport – serving planes. Considering that we are a company with a plan and a very clear vision, we plan all business decisions, processes and capacities in advance and scale ourselves according to the market and goals for the future. Thus, I would not talk about

All forms of development and investments at Nikola Tesla Airport suit company SKY Partner, and we also have plans for expansion and growth limits, but rather the pace of growth. The pace of our growth is stable and controlled, and we invest in it, in terms of both human and technical capacities. ■ To what extent have Sky Partner’s standards and procedures been changed or amended in the previous period, related to increasing the security of passengers and aircraft? - This is indeed a key issue. Like in other segments of our operations, we don’t leave anything to chance. The aeronautical authorities of our country and the countries in which we operate have

strict rules that we, of course, respect. However, our company rules and the standards of our partner companies still represent an additional level of security, whether that relates to new threats or regular operational challenges. In our business there is no such thing as “extraordinary” or “unplanned”, as we really take care of everything. ■ Negotiations are underway on the issuance of a concession for Nikola Tesla Airport, while the process could be implemented by the end of 2017. From your perspective, how do you see this move of the Government? - As a company that operates at Nikola Tesla Airport, we support every direction of its development. That goes for investments to date in expanding the capacity of the airport itself, as well as the announced strategic decision of the Government of Serbia to seek partners in order to develop our largest airport more rapidly and with greater agility and certainty. We don’t deal in politics, don’t have favourites and always want to emphasise that a successful concession will primarily bring benefits for passengers and airlines. Provided it is implemented successfully, we could have new contents and greater comfort, and Belgrade can quickly move towards earning the title of being a genuine hub of passenger and cargo aviation. As the handler at Nikola Tesla Airport, we will be ready to respond to the challenges of its growth, which – as businesspeople and primarily as patriots – we honestly support. ■ APRIL



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SUPPORT “The Albania-Serbia Chamber of Commerce and Industry gives significant support to the entrepreneurs of Serbia and Albania in maximising their potential and connecting with potential partners.”— MARKO ČADEŽ, President of the Chamber of Commerce & Industry of Serbia



Logistics Intermodal Terminal Opened In Belgrade

NELT, the regional leader in the area of distribution, logistics and trade marketing, opened the first private railway logistics terminal in its Central Distribution Centre in Dobanovci and thus completed the logistics services portfolio.

Celebrating 20 Years



The NELT intermodal terminal represents an upgrade to existing integrated logistics system and is open for all import, transit and export operations participants in the market. It is available to shipping companies, railway operators, forwarding agents, as well as manufacturers, brand owners and other distributors. “Intermodal transportation is a synonym for economic, efficient and environmentally sustainable global transport of all types of goods. We in Nelt strive to have our operations recognised by these attributes.Regular weekly railway both import and export transportation of containers between the Port of Rijeka and Nelt Dobanovci is the first service offered to the market. Reduction of the greenhouse gas effect and lower usage of the road infrastructure are significant for the community and the country itself,” said Ivan Milićević, Operations and Development Manager in NELT LSP. The new NELT terminal connects all European ports and land terminals. E-75 and E-70 motorways intersect six kilometres away from the terminal, while the distance to Nikola Tesla Airport is only ten kilometres.

UniCredit and Universities Foundation is opening, for the 4th consecutive year, their International Internship Programme (IIP), in which 25 students from Europe, including those from Serbia, will have the opportunity to spend three months as interns in member banks of UniCredit Group in Austria, BosniaHerzegovina, the Czech Republic, Germany, Hungary, Italy, Romania, Russia and Serbia. The internship will be held in the period from June to August 2017. On this occasion, for selected students UniCredit and the Universities Foundation will cover the travel costs, costs of visa issuance and other expenses amounting to up to €1,000. In addition to this, participants will be provided with a monthly allowance in the amount of €700. Students of different educational backgrounds, enrolled in at least the second year of studies, can apply for IIP in banks within the UniCredit Group. It is essential that applicants are citizens of one of the countries where UniCredit operates, among them Serbia. Applications can be made exclusively through the site


New Commercial Starring Oscar Winner Morgan Freeman Turkish Airlines, the winner of the “Best Airline in Europe” award for the last six years given by the most respected global airline passenger survey organisation, Skytrax, launched its new commercial starring Oscar winner Morgan Freeman. Commenting on the deal made with actor, director, voice actor and pilot Morgan Freeman, M. Ilker Ayci, CEO of Turkish Airlines said; “We not only fly to more countries than any other airline in the world, but also invest in the passenger experience at every destination we reach. In line with our global growth strategy, we will continue at full speed to launch new flight destinations. We are committed to innovation and we always aim for the best. Our new ad campaign with Morgan Freeman has already been a smash hit. We value our deal with Freeman for his contribution to our global image and brand awareness.” Morgan Freeman said, “As a licensed pilot, I have a special interest in flying, and I know Turkish Airlines is consistently awarded for its unique offer and innovative services that continue to score resounding successes.” The ad campaign with Morgan Freeman will be broadcast in every destination Turkish Airlines fly to worldwide.

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The British International School (BIS) is celebrating its 20th anniversary this school year. BIS prides itself on the quality of teaching that takes place in the school. Following the British curriculum, students from 4 to 18 years old can learn to the best of their ability. Whether they are learning their first few words, or taking A Levels to get into university our highly-qualified teachers focus on the needs of each student. With formal, externally marked examinations at the end of Primary (Year 6), in Year 9, and the IGCSEs and A Levels our results demonstrate that our students are capable of achieving high scores as the best in the UK. We are proud to say that all students leaving BIS enter universities of their choice. However, at BIS, we also focus on other areas of student’s development. From taking them to museums when they are five through to taking them mountaineering when they are 18, there are many opportunities for students to take part in other non-curriculum events both during and after school hours. With regular visitors from embassies to our weekly assemblies, students at BIS get a feel of the world beyond. Students themselves regularly take part in assemblies, thus developing their own self-esteem and abilities to perform within and to a group. There is also an optional week-long annual study tour that all students can take part in, and many other educational day trips. Charity work, such as World Water Day and Football Shirt Friday, and educational events, such as the World Education Games or Global Running Day, enable students to enjoy and develop their teambuilding and competitiveness, ready for the challenges of life. With a family-feel to the school, students are more than welcoming to new students. Come along and see why so many students from all over the world enjoy the education on offer at BIS. TRADE

Number Of Turkish Firms In Serbia Triples In Two Years

The number of Turkish companies operating in Serbia more than tripled in the last two years thanks to the efforts of business groups in both countries, said Aleksandar Međedović, head of the Foreign Economic Relations Board’s (DEİK) Turkey-Serbia Business Council. “Turkish firms have significantly boosted investments in Serbia in recent times. Improving trade relations between the countries is also reflected in bilateraltradevolumes,withbothexportsandimports increasing substantially in the last 10 years,” said Međedović. Exports to Serbia rose from $278 million in 2006 to $582 million last year, while the same period saw imports up from $49 million to $288 million, according to the Turkish Statistical Institute (TÜİK).

DECISION “The decision of Moody’s to upgrade Serbia’s long-term issuer and senior unsecured ratings to Ba3 from B1 is a good sign to investors and will allow the country to borrow and refinance debt more cheaply.”— DUŠAN VUJOVIĆ, Serbian Finance Minister

Placements & postings


New CEO at NIS JSC Novi Sad

The Board of Directors of NIS JSC Novi Sad has appointed Kirill Tyurdenev (40) as the company’s new Chief Executive Officer. He previously held the position of First Deputy CEO for Refining and Sales activities. Kirill Tyurdenev graduated with honours from Moscow State Institute of International Relations with a bachelor’s degree in International Relations and an MA in International Law. He holds an LL.M from Manchester University and completed executive education programmes at INSEAD and the London Business School. From 2000 to 2004 Tyurdenev worked for A.T. Kearney and Unilever, then in 2004 he joined McKinsey & Co. From 2007 to 2012 he worked for Sibur Mineral Fertilisers as Deputy CEO responsible for Strategy and Corporate Development. In 2012 Tyurdenev took on the position of Executive Vice President and Board member in Sistema investment holding, before later becoming President and Chairman of the Board at United Petrochemical Company within Sistema holding. Before joining NIS, he held the position of Chairman of the Board at Ufaorgsintez. Tyurdenev joined NIS JSC Novi Sad in April 2016, initially serving as First Deputy CEO for Refining and Sales activities, before being appointed as the company’s CEO on 22nd March 2017. Kirill Kravchenko will continue to execute his functions as Deputy CEO of Gazprom Neft responsible for international asset management.


Predrag Mihajlović graduated from the Faculty of Economics in Novi Sad, before completing his post-graduate studies at Grenoble Ecole de Management, France, where he earned the title of Doctor of Business Administration. His areas of expertise are operational and strategic planning, process optimisation, cost reduction and improving productivity. During 2016 he served as director of the corporate banking sector at VTB Bank JSC, and from 2014 to 2016 he held the post of director for consulting operations at Baker Tilly Western Balkans. From 2010 to 2013 Mihajlović was CEO of Credy Bank, and from 2003 until year’s end 2008 he worked at Komercijalna Banka JSC Belgrade, initially as a special advisor to the President of the Bank, then as Deputy Chairman of the Executive Board, responsible for four sectors: corporate banking, retail banking, marketing and the development of new products and investment banking. From 1995 to 2003 he worked at Vojvođanska Banka JSC Novi Sad, and prior to that he started his career in banking at AY Bank Ltd. London, as a dealer in the foreign currency exchange market. Mr Mihajlović spent two terms as Governor of the American Chamber of Commerce and two terms as Chairman of the NALED Board of Directors. A member of the Italian Business Club, amongst others, he is fluent in English.

Ser Gilles

Cafe, Restaurant & Event Centre Crnotravska 4, Belgrade, Serbia 011 36 70 733, 069 36 70 733 APRIL



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Cleanliness Before All Immo Clean was awarded by the OSCE two years ago for taking care of employment, but also for the numerous services it provides on the Serbian market tial areas, based on the 24/7 principle. What does your offer include in total? - Since Immo Clean was founded as an enterprise, in 2009, we have offered services for the regular maintenance of hygiene in office and residential space. This is our basic and strategic activity. In addition to regular services, we also offer specialised cleaning: so-called construction cleaning after building and renovation works, general cleaning, post-fire cleaning, cleaning of warehousing, storage and basement space etc. The equipment we use is highly professional, while the cleaning materials that we use have the necessary certificates.

training in order to be ready to carry out their job. We try to work constantly on their improvement and, particularly when purchasing some new equipment, it is mandatory for us to organise training in the use of the new equipment.

■ You also have a company in Austria. What differences are there between lean, tidy and regularly mainthe functioning of the Serbian and tained offices or residential Austrian parts of the company? areas are vital for health, but - Immo Clean was founded because our also for focused conducting of founder, who has lived and worked in jobs. Seven years ago, in cooperation Austria for decades, decided, in addiwith Austrian company Immo Baution to the very successful company finanz, Immo Clean appeared on the in Vienna - Immo Baufinanz, to expand Serbian market and transferred part of operations to Serbia. The parent the work, experience and knowhow of this Austrian company. Immo Clean performs services company in Vienna deals primarily with the adaptation and reconstrucCleaning and maintaining hygiene using the latest equipment tion of housing, with cleaning being in commercial, residential, industrial, in the field, so the company a support activity, while for us it is hotel and other spaces has gained organises mandatory training the main business. a new dimension. That’s because, Immo Baufinanz has a large numalongside basic work in this field, for all those working on the ber of workers and a large number other maintenance jobs have quickly machines, handling devices or of subcontractors that it hires, been instigated, such as care for using special materials while with us business is still done gardens and green spaces, cleanfor cleaning on a much smaller scale. However, ing aircraft, janitor repairs, cleaning both here and there we strive for machinery, technical maintenance of quality to be in the first place. The We strive to achieve world standards lighting, winter service operations etc. Belgrade company is trying to attain and to constantly be up-to-date. The best illustration of their success is the standards of the Austrian firm, and the award they received from the OSCE to copy and bring to the Serbian market ■ Your offer also includes repair, astwo years ago, which related both to everything that is good and tested. sembly and disassembly services, their care of employment and the ever There is no great philosophy – at both care for home gardens and yards, longer list of services they provide. the Serbian and Austrian companies we winter service jobs etc. How do you fight, with the best possible services, secure the skilled workers required ■ Immo Clean offers its clients to get satisfied clients and to increase for all these jobs? complete cleaning and maintenance their number from year to year. ■ - All employees undergo professional services for commercial and residen-


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cargo-partner d.o.o.

UgrinovaÄ?ka 205, SRB-11272 Beograd - Dobanovci Tel: + 381 11 3121 910, Fax: + 381 11 3121 474, APRIL



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TENSIONS “The only way to act against tensions is through increased cooperation and joint projects leading to no one being interested in endangering what has been achieved. That is also the principle on which the EU was established.” — JOHANNES HAHN, European Enlargement Commissioner



Agrokor Works On New Business Model Croatian food group Agrokor, which is struggling to resolve major debt problems, said on Sunday it was working on a new business model aimed at protecting employees, suppliers and other partners. Agrokor, the biggest Croatian private company and the biggest food producer and retailer in the Balkans, came under pressure from investors and the Zagreb government to clear up its debt problems, which could destabilise the local economy. “Management, together with key investors, works on a new business model which will protect interests of all the stakeholders, primarily taking care about employees, suppliers and partners ... The chosen model will be presented soon,” Agrokor said in a statement.

Transport Minister Proposed to End Sofia Airport Concession Bulgarian transport minister Hristo Alexiev has proposed that the Council of Ministers stop the concession of Sofia Airport. The Minister reached this decision on the basis of an expert analysis which points out that in the situation of the current concession state interests are not protected.


Completed Talks On The Sale Of A 30% Stake in Luka Bar Montenegro’s privatisation agency said it successfully completed talks on the sale of a 30% stake in port operator Luka Bar and 51% in rail cargo operator Montecargo to Polish company OT Logistics. The sale price of the stake in Luka Bar was set at €8.52 million, 20% higher than initially offered by OT Logistics, as the buyer agreed to invest €14 million in the port for a period of three years, the privatisation agency said in a statement. OT Logistics will also pay an annual concession fee of €500,000 to the Montenegrin government for the operation of Bar port, plus an additional payment depending on the port’s revenue. OT Logistics also committed to increase the minimum monthly wage of employees of Luka Bar and Montecargo to €140 and €150, respectively, from €90, in the next three years.


ArcelorMittal Zenica Completes €12.4 mln Investment Cycle Bosnian steel mill ArcelorMittal Zenica said on Tuesday it has officially inaugurated three new investment projects worth a combined €12.4 million. The investments in the projects - two focused on improving the company’s environmental performance and a third designed to modernise the production of one of the plant’s key products - bring total investments in ArcelorMittal Zenica to more than €160 million, including €50 million targeted specifically for environmental improvements, the company said. Following the inauguration of the projects, ArcelorMittal Zenica has become the first steel plant in the world to have industrial-scale hybrid filtration technology installed in its sinter plant, the company noted. A total of €3 million has been invested in the new technology, which has cut dust emissions significantly, to Source: SeeNews well below the EU limit of 20 mg/Nm3. 


Alexiev reckons that it is not appropriate to continue with the concession under the current circumstances. Another of Alexiev’s arguments is that Bulgarian State Railways (BDZ’s) problems cannot be solved at the expense of Sofia Airport – a condition under the current concession. He explained that too much importance is being attributed to one criterion when evaluating the offers – the one-off concession remuneration of 55%. The reason is that the second Borisov cabinet decided that the revenues from the concession must be used to pay off BDZ’s debts. This is why the candidates must depose in advance a large part of the sum.


Gas Market Not Ready For Full Deregulation Romania’s gas market is not ready for a sudden price liberalisation planned for April, as the final price for households could jump, the Federation of Associations of Energy Utility Companies, ACUE, said to Although it fully supports the liberalization of the gas market, ACUE thinks the process should be carried out gradually. The Romanian natural gas market has been gradually liberalised from 2001 to July 1st 2007, when it was fully opened for all customers who are now able to choose their own supplier.

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Also, from 2007 to 2015, the market has been liberalised for non-household customers but the process has been postponed several times for households consumers. One of the main reasons why ACUE is in favour of postponing this change in the gas market is that it will lead to a price increase for households and for heating energy producers which are currently benefiting from a purchase price of gas set by the government. The natural gas price on the regulated market currently is €13 per MWh. Deregulation will result in an immediate increase of the cost for the free market


From The Attic - New View The highest quality and most complete range of skylight roof windows on the market ensures that VELUX enjoys a leadership position in the world


long with light and fresh air, innovative roof window skylights provide peace, security and comfort to a space. Alongside that, VELUX windows come with triple glazing and energy-saving thermal technology, while the outer mesh protects the glass from overheating

- In this anniversary year, we are presenting the most complete and highest quality assortment to date. These are products that confirm VELUX’s leadership position on the global and local markets. First of all, there is economical triple glazing which – with the thermal technology that is unique to VELUX products – provides customers with significant energy savings, peace and tranquillity in their converted loft space or attic. Roof windows with such an energy performance previously implied a premium price, but we are now making that technology accessible to the masses.

- After the crisis period that caused stagnation in the housing construction sector, we are entering a more favourable period for the entire construction industry. We are recording growth on all markets, thanks to a constant presence on the ground and good collaborators who recognise VELUX as the right partner to promote their business. Installing VELUX products in a building has become a kind of code of quality and a signal to future buyers that the investor thinks about quality and durability, and the comfort of those who will live in the attic or converted loft space.

■ VELUX also specialises in the distribution and installation of dif■ VELUX is synonymous with imports ferent windows and equipment in and sales of skylight roof windows. roof structures. What share of sales What do you offer today and how do relates to these products? you meet the needs of an increas- VELUX is not just skylight roof winingly demanding market? dows – it‘s an entire system, a set of - For 20 years we have had the honour products that have their own function and opportunity to carry out noble and individually and that, when installed inspiring activities – bringing daylight together, provide comfort, safety and and fresh air into people’s lives. Prodpeaceful dreams for users. Products for the installation of roof windows ucts and technology change, but what VELUX’s thermal and hydro provide cosiness and insulation, as well will always remain a primary human insulation series of roof as an extended guarantee on VELUX need is sufficient amounts of daylight roof windows. Our thermal and hydro and fresh air in the rooms where we window skylights has already insulation series has already become a live. The market is increasingly turning become a standard on the standard on the market, given that it towards energy efficiency and products market, as it is cost effective is cost effective and has an extended that offer high quality solutions at a and has an extended warranty warranty of 10 years. Products for heat fair price, and I am glad that VELUX is protection and light control really profully able to respond to these requests. of 10 years. We like to say that we offer all users of vide users with comfort. I would our products a better and more comticularly emphasise the exterior mesh that protects the glass from overheating ■ You cover the markets of Serbia, Monfortable living and working environment. and thus protects the room from excessive tenegro and Macedonia. How do you asheat. Those who have this mesh on their sess current regional trends in the sector ■ You are constantly in the process of inVELUX window often point out that it is a of constructing residential and commernovating. What innovative solutions can real saviour from the great summer heat. ■ your customers count on today? cial premises? APRIL



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New Niche Player Aquawell Group AG starts selling its products on the Serbian market as of April. The company sees its SAINT JOHN’S Mineral Water brand as the Evian of the Balkans, while it also expects its Kids and Baby water to become favourites on the market


he newcomer on the Serbian bottled water market, Aquawell Group AG Switzerland, believes it has a lot to offer consumers of still and sparkling water. ■ Your products have not previously been present on the Serbian market and the markets of the region. What are your top products and which of them do you plan to launch on local markets during the course of this year? - We will start selling our products in Serbia and the region in April. As it is still unclear which of our products will have success and which will be the most in-demand, we will launch all the products we have from the beginning. We can say now that bottles of 0.5L and 1.5L, as well as Kids and Baby water, will be the favourites on the market. The international market shows that the tendency is on nonsparkling, still water, but as the Serbian market is a very specific we hope that the sparkling water segment will be significantly higher in Serbia than it is on the international market. ■ The majority of your products go to retail shops, supermarkets and HoReCa facilities. What benefits do companies receive from cooperating with Aquawell? - Our buyers – from supermarkets, all shops and the HoReCa sector – will have a great advantage with our products, as our brand 46 |



and water quality belongs to the premium segment. Also, our advantage is that the price of our products is not premium, but rather is in the range of the average price of mineral water in Serbia and elsewhere in the world. When it comes to shops, we give them support in marketing, sales and customer service, and when it comes to HoReCa we will have affordable prices in the next two years and support for sales in hotels, restaurants and cafés. Another advantage is that we will have very attractive incentives for our HoReCa buyers.

SAINT JOHN’S has an exceptionally good balance between minerals, so that the human body can absorb all substances to use it optimally. As such, it is an ideal companion for day and night, and for all stages of life ■ How much of your production will be sold via export; where will you be exporting to and how much will be sold on the Serbian market? - At the moment we are unable to value the percentage of the domestic market, but Serbia is clearly our focus in 2017. Our advantages are our international certifica-

tions and permits that give us the opportunity to sell our products in the EU, Russia and also the U.S. ■ How do you see the Serbian market? - The Serbian market has around seven million potential consumers. If we believe the results of the survey of Euro Monitor, bottled water consumption in Serbia decreased from 2010 to 2015. This should cause our concern, but we also see a huge opportunity to play on the market as a new niche player. Total consumption of bottled water in Serbia stands at approximately 450 million litres per year. The interesting thing is that four domestic players share 80 per cent of the market. We have the opportunity to follow those four players in the next two years, and to position ourselves with our products. ■ What standards do you apply when it comes to preserving the quality of the water that you deliver to customers? - We have all necessary certifications, like HACCP, ISO standard, and we test our water in our own laboratory several times a day. In 2012, SAINT JOHN’S received official authorisation from the European Union. One of the leading institutions in the world, SGS Fresenius International, accompanied us throughout the approval process. Our mineral water is naturally filtered and is not subjected to chemical or mechanical treatment. SAINT JOHN’S has an exceptionally good balance between minerals, so that the human body can absorb all substances to use it optimally. If we have to compare our water with another international water brand, we can state clearly that SAINT JOHN’S Mineral Water is the Evian of the Balkans. ■


We Are Ready To Compete Until now ENEL PS has been focused on the Serbian market, but now it is expanding its operation across the region with the ambition of becoming a player on the European market same physical infrastructure and the need for it to exist and work reliably. For example, in the pharmaceutical industry it is necessary to have conditions that ensure a continuous power supply because of technological processes that have to be running all the time. There are similar processes in other industries where production lines largely depend on the stability of the power supply.


he company ENEL PS today employs over 100 staff and operates according to the highest technical standards, with topquality knowledge and the references needed to participate on the European market. This has generated both regional and European ambitions. ■ Who are your top clients in Serbia and in the region? - We cover the markets of Serbia, Bosnia and Herzegovina and Montenegro, with plans to expand to the market of South East Europe. All our clients have a common need for business continuity, regardless of their field of operation. Our clients are banks, public companies, state institutions, companies in telecommunications, industry, the power industry and transport, and we provide them with entire Data Centres or separate power systems (aggregate or UPS), air conditioning etc. We have a strong presence in Data Centres but we are not limited to them. Companies of different profiles have the

to needs. If we consider all this in the spirit of reducing power consumption of business systems, we can see that this is a very important segment that enables us to monitor consumption, but also to correct the reduction of consumption, which is the goal.

■ Can domestic engineering companies only be partners of bigger international companies or can they also become leaders on the regional ■ Why is energy efficiency so impormarket? tant for Data Centres? - Today the company ENEL PS employs - As digitalisation advances the power over 100 staff and its capital is locally consumption in a Data Centre inowned. The company is managed by a creases. There are over 3 million data professional management and engicentres across the world today, whose neers make up 30% of the staff. Until energy consumption per square metre now we have been mostly focused is 200 times greater than the conon the domestic market, but we have sumption of their office buildings. In expanded our business in the region the future this trend is expected to and are beginning to get through to the European market. Our company Our clients are banks, operates according the highest public companies, state technical standards, with topinstitutions, companies in quality knowledge and the refertelecommunications, industry, ences needed to participate on the European market. the power industry and We have completed projects in transport, and what they all Bosnia and Herzegovina, Montenehave in common is the need gro and in Russia, where we have installed equipment. Going beyond for business continuity 24/7 the borders of Serbia is very important to us and this is our main goal grow due to the networking of other in the near future. We believe that we devices, such as the IoT (Internet of have the knowledge and methodology Things), so it is very important to take that we can offer users in the region energy efficiency into account. very successfully. Business operations definitely expect We have been selling one of our devices a Data Centre to ensure availability in Turkey with great success, almost the 365/24, additional availability, resistance same as on the domestic market, which is to malfunction and crashing, possibility a good result that we will follow up on. ■ of easy growth – expansion according APRIL



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“I do not like Brexit because I would like to be in the same boat as the British. The day will come when the British will re-enter the boat, I hope.” — JEAN-CLAUDE JUNCKER, President of the European Commission



Boeing's First Overseas Factory To Be Built In China

Intel buying Israel's Mobileye For $15 billion

U.S. chipmaker Intel is taking a huge bet on driverless cars with its announced $15.3billion buyout of specialist Mobileye. Intel will pay $63.54 per share in cash for the Israeli business, which develops systems for “autonomous driving”. Mobileye and Intel are already working

Boeing and Chinese aviation manufacturer Commercial Aircraft Corporation of China Ltd.(COMAC) started to build a Boeing 737 completion centre in eastern China’s Zhoushan city at the end of last month, scheduled to make its first delivery in 2018. This is Boeing’s first overseas facility as part of its 737 production system, and designed to deliver 100 Boeing 737 planes a year. In the joint-venture completion center, Boeing’s 737 aircraft will be installed with flight entertainment systems and seats. The plant in Zhoushan, 287 km southeast of Shanghai, also provides services such as coating, repair and maintenance of Boeing aircraft. Boeing and COMAC signed an agreement in October 2016 to set up the Zhoushan plant, which will consist of two parts: the 737 completion centre, a joint venture of Boeing and COMAC, and the 737 delivery centre, owned by Boeing.


Sberbank Confirms Hiring Podesta Group For Lobbying Sberbank confirmed that it hired the consultancy services of Tony Podesta, the elder brother of John Podesta, who chaired Hillary Clinton’s presidential campaign, to lobby for its interests in the United States.. “The New York office of Sberbank CIB indeed hired the Podesta Group. The engagement of external consultants is part of standard practises for us,” Sberbank said. According to The Daily Caller, Podesta was proactively lobbying for the cancellation of a range of anti-Russian sanctions in the banking sector. In particular, he represented the interests of Sberbank and was paid $170,000 Source: TASS for his efforts.


together, along with German carmaker BMW, to put 40 test vehicles on the road in the second half of this year. Intel expects the driverless market to be worth as much as $70bln by 2030.



Russia, Turkey Create Joint Investment Fund The Russian Direct Investment Fund (RDIF) and the Turkish Wealth Fund (TWF) have signed a memorandum establishing the Russia-Turkey Investment Fund, in a bid to further increase bilateral economic ties and boost the investment flow. The parties will work together to identify attractive investment projects that could strengthen bilateral economic ties and increase investment flows between Russia and Turkey. The respective agreement was signed last month in the presence of Russian President Vladimir Putin and Turkish President Recep Tayyip Erdoğan during the latter’s visit to Moscow. According to the agreement, the RDIF and the TWF will invest up to $500 million each in the Russia-Turkey Investment Fund. INDIA

Tatas, VW Tie Up For Eco Segment Models In a bid to boost its struggling passenger vehicle business, Indian Tata Motors has struck an alliance with Volkswagen to jointly develop a new range of products. These models will hit the road in 2019. Currently, Tata Motors’ alliance with Volkswagen is for passenger vehicles but it could be broadened to include commercial vehicles. The alliance comes as Tata Motors tries to reverse its fortunes in the domestic business by reducing the number of car platforms from six to two, streamlining the organisational structure and adapting to market trends quickly. Teaming up with Tata Motors will help Volkswagen to improve its presence in India and other fast-growing automobile markets. The alliance will be led by Volkswagen’s Skoda unit and it will develop vehicle concepts in the economy segment. This indicates that Skoda will look at the lower end of the market, targeting mass customers.

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Before you start shopping for business premises, you need to have a clear picture of what you must have, what you’d like to have, what you absolutely won’t tolerate and how much you can pay. Be systematic and realistic as you consider the following 10 location points. 1. Style of operation 2. Demographics (the demographic profile you have of your target market) 3. Foot traffic 4. Accessibility and parking 5. Competition (are competing companies located nearby?) 6. Proximity to other businesses and services 7. Image and history of the site ( ask about previous tenants) 8. Ordinances (find out if any restrictions could affect your business in any way) 9. The building’s infrastructure 10. Utilities and other costs


Digital Technology In The Service Of Dental Treatment Could you imagine your life without a computer or smart phone? Could you now imagine using the mobile phone you had 10 years ago? Did you know that the highest valued start-up projects today are companies in bioscience and tissue regeneration? Had digitisation also changed dentistry?


entistry has experienced unimaginable progress over the past ten years, more than during the preceding fifty. 3D printers, intraoral scanners, 3D analysis, digital treatment planning and computer designed crowns are slowly becoming integral parts of daily dental practise, assuming a leading over classical dental doctrine. Dealing with the needs of complex and highly demanding patients, whose rehabilitation was previously impossible to implement, is today achieved easily thanks to the significant progress achieved in regeneration processes, in both hard (bone) and soft (mucosal) tissue. Particular progress has also been achieved in planning and carrying out dental treatment using digital technology, which has resulted in a significant advancement in dental implants. It is well-known that an implant is the best replacement for a missing tooth. The success of a dental implant procedure was previously considered as the implanted false tooth being in the bone, while today a rehabilitation implant is only acceptable if the implant and the surrounding tissue look exactly the same, identical to the natural tooth. New clinical experience has shown that, by applying innovative technological achievements, an implant can be successfully installed immediately,

straight after tooth extraction. Moreover, an implant embedded in such a way can also immediately take a temporary crown – to be replaced later with a definitive one. In this way, the functional and aesthetic harmony of the mouth and, the social components of the patient, are not impaired at any time. When it comes to the rehabilitation of patients who lack multiple teeth, as well as those with no teeth at all, it is crucial to be highly precise when placing implants, both in relation to the surrounding anatomi-

Thanks to digital technology, it is today possible to plan in virtual the precise desired position of a crown, and thus the position of the implant, then to use a 3D-printer to make components for surgical guidance, which enable us to fit the implant in a predefined place

cal structures, as well as in relation to the definitive prosthetic added. This is called prosthetic guided implantology. Thanks to digital technology, it is today possible to plan in virtual the precise desired position of a crown, and thus the position of the implant, then to use a 3Dprinter to make components for surgical guidance, which enable us to fit the implant in a predefined place. This enables us not only to achieve reliable, predictable and safe tissue rehabilitation, but also superior aesthetic results. â– *The noted dental procedures can be performed as described at the Center for Dental Aesthetics and Implantology in Belgrade




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Business Dialogue - CorD No. 150  
Business Dialogue - CorD No. 150