HUNGARIAN ELECTRIC POWER INDUSTRY “MVM” BUYS MINORITY PACKAGE OF SHARES OF “ENERGOTEHNIKA JUŽNA BAČKA”

MVM Group acquires direct stake in the leading energy utility construction companies in Serbia

 

MVM Ltd. has signed a share purchase agreement on 17 March 2022 with the Serbian Maneks Group in connection with the acquisition of a 33.4% stake in Energotehnika Južna Bačka and Elektromontaža Kraljevo.

 

The two companies involved in the transaction are the leading energy utility construction companies in Serbia, with decades of experience and excellent references. This acquisition is a great opportunity for MVM Group to gradually increase its presence in Serbia and in the Western Balkan Region in line with its regional expansion strategy.

 

The transaction is expected to close in the second quarter of 2022.

The company Energotehnika Južna Bačka is a new regular member of the Association of RES Serbia 

Since the privatization in 2010, the business of the company “Energotehnika Južna Bačka” has been based on the constant aspiration and great effort for the company to expand in many areas, and by accepting and overcoming challenges, take a leading role in the energy sector. Thanks to the systemic strengthening of the company, and then the merger with “Elektromontaža” from Kraljevo, “Južna Bačka” became ready to fulfill every business task and bring much greater benefits to the state and the economy. This means that in addition to organizational, personnel and financial part, it is able to progress much faster in the adoption and application of new technological knowledge.

We have also taken a new priority direction – the development of green energy and environmental protection.

Renewable energy sources are a strategic direction of development that “Energotehnika Južna Bačka” has traced for the next period. Participating in the most complex environmental projects in the energy sector, at a time of increasingly rigorous environmental standards and international obligations undertaken by Serbia, “Energotehnika Južna Bačka” has proven to be more than a reliable partner in important projects, such as the construction of flue gas desulphurization plants TENT B, on an equal footing with the world-renowned “Mitsubishi power system”.

Wind farm Kovačica, water purifier in Bačka Topola, a large number of cogeneration plants in cities in Serbia, heating plants and biomass boilers, are just some of the references that show that the backbone of the company has become green energy and ecology – states Energotehnika Južna Bačka on the occasion of joining RES Serbia.

This year, “Energotehnika Južna Bačka” launches a new product – a charger for electric cars in partnership with the Hungarian company “Prolan”.

CONTRACT WITH THE Hungarian MVM Group opens the doors of Europe for Energotehnika Južna Bačka

MVM Group as the leading Hungarian energy company has signed a strategic agreement with Maneks Group, the owner of the leading energy utility construction companies in Serbia “Energotehnika – Juzna Backa” Novi Sad and “Elektromontaza” Kraljevo.

MVM Group and Serbian Maneks Group have entered into a strategic cooperation agreement for the implementation of joint projects on the field of energy utility construction market and to promote cross-border cooperation between Hungary and Serbia.

Energotehnika Južna Bačka and Elektromontaža Kraljevo, part of the Maneks Group, are the leading companies in the energy market in Serbia and in the Western-Balkan region. The high quality, reliability and environmental friendliness of the systems they design and implement, guarantee that with an experienced partner MVP Group will gradually increase its presence in the Balkans which is in line with MVM Group’s regional expansion strategy. On the other hand, the agreement with MVM Group enables Maneks Group and the companies that are part of Maneks Group to entering the Hungarian market.

Based on the Memorandum of Understanding signed on 15 July 2021, the parties will work together to advance renewable energy targets and decarbonization plans in Serbia, jointly participate in power plant and transmission network construction and modernization projects and share experience on recently implemented energy legislations.

The agreement signed today with Maneks Group is the first agreement of such nature that MVM Group has concluded with a company from the Western Balkans.

Election for the “Employee of the Month” of Južna Bačka

Before the all great stories about “teambuilding” and other business practices of the developed world, whose names are hard to pronounce and even harder to understand, Energotehnika – Južna Bačka has always been known as a powerful collective that fosters reciprocity, good interpersonal relationships, healthy working atmosphere and everything else that strengthens cooperation and develops employees.

In the aforementioned spirit, the company has launched the election for the EMPLOYEE OF THE MONTH in the collective.

Every month, more than 270 workers vote for a colleague who, in their opinion, is the epitome of expertise, commitment and collegiality as our most important values.

The holder of the title EMPLOYEE OF THE MONTH in Južna Bačka for the month of May is Gordana Ercegović, the bookkeeper leading the Accounting Team, and for the month of June – Goran Marković, leading electrical fitter of the Substations Team.

Our EMPLOYEES OF THE MONTH will enjoy with their families in the prize weekend at the “Fontana” hotel in Vrnjačka Banja.

“Vojvodina” volleyball team for the third time in a row is the country champion

The title stays at home! The old new champion of Serbia is Vojvodina NS seme, which in the fourth game of the playoffs, in Belgrade, defeated Crvena zvezda 3:1 and completed the final fight for the most important domestic trophy. In this way, the team from Novi Sad kept the title and won the third national title in a row.

MEMORANDUM OF UNDERSTANDING SIGNED WITH FTN (Faculty of Technical Sciences)

On March 23, 2017, the Memorandum of Understanding between the Faculty of Technical Sciences and the company Energotehnika – Južna Bačka was signed. In this manner, the cooperation of this faculty and the company is regulated regarding the implementation of the scholarship program for students who have achieved particular success in studying and provision of material conditions for achieving top results in international student competitions.

In accordance with the competition for scholarships for students published on the website of the Faculty of Technical Sciences, as well as with clearly defined criteria, Energotehnika – Južna Bačka has committed to provide, from its own funds, annual scholarships for a minimum of 5 and a maximum of 10 students of the Faculty.

EJB NAMED A COMPETITIVENESS AND SUSTAINABLE DEVELOPMENT LEADER IN SERBIA