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Interview with Edward Kuchta, CEO of BTG Sp. z o. o., owner of BUKOVINA Resort Brand Find balance and harmony at a premier Polish spa BUKOVINA Resort is a complex of many attractions and facilities in Bukowina Tatrzańska. Each guest of the resort can use all the available services: the BUKOVINA geothermal pools, which are the largest in Poland, the child-friendly BUKOVINA Hotel, the adult-focused Ho- tel HARNAŚ, and Wellness BUKOVINA, – a places of relaxation, tranquility and renewal. The unique complex for year-round relaxation for the whole family is a luxurious place to reclaim your inner balance, find peace, take care of your health and fitness, and restore your mood. European Business spoke with Edward Kuchta, CEO of Bukowianskie Towarzystwo Geoter- malne Sp z o o, the resort’s holding group, about the spa’s beginnings and how it plans to draw in guests from Poland and beyond. EB: Mr. Kuchta, regarding the BUKOVINA thermal springs were bought and thoroughly modernized of wellness coincides with the hotel’s development over the last created in the buffer zone of the the Hotel HARNAŚ, which opened areas of well-understood hospital- few years, what were the most im- national park in 2008 and immedi- in December 2016. This modern- ity. Creating a zone of comfort and portant milestones that made the ately became a magnet attracting ist-style facility from the 1970s tranquillity where you take care of hotel what it is today? people wanting to relax and enjoy has a very interesting architecture, the guest, and help him regenerate the beneficial properties of opti- and is dedicated to guests over 15 and relax is the core of wellness. Edward Kuchta: In 1991, a geother- mally mineralized thermal water years of age. mal hole was drilled in the eastern in 20 outdoor and indoor pools on Good cuisine with natural ingredi- ents, relaxation in thermal water, part of the Tatras. Thanks to the several levels, a sauna complex, EB: We know that your spa and access to specialists and spa fa- social initiative of the inhabitants of and a large parking lot, showing wellness hotel is successful and cilities, and top-quality cosmetics, nearby Bukowina Tatrzańska, this the scale of this investment, which has very good feedback and rat- combined with relaxing or healing well was managed. In 2001, the has turned out to be a success. ings on online booking portals. In massages and care rituals are our residents of Bukowina Tatrzańska It was a matter of course to rein- a nutshell: What are the most de- strength. The natural setting of the established a company under the vest income in the hotel infrastruc- cisive factors and strengths of the Tatras is an added bonus. name Bukowiańskie Towarzystwo ture, allowing tourists to stay for hotel? What important benefits of Geotermalne Sp. z o.o. As a legal longer, combining the use of the your medical treatments and well- EB: What are your USPs, and what entity, it aims to use the thermal Tatras’ natural surroundings with ness activities attract guests? distinguishes your offering from waters to develop local entrepre- bathing in the thermal spas. This is that of other wellness hotels in this neurship and strengthen tourism how the comfortable family Hotel Edward Kuchta: Our experience region? Are there any particular in the Podhale region in a way that Bukovina was created. It opened shows that the complexity of the highlights? will harmonize with the protection for guests in December 2010, to- offer and its quality determine of the natural environment and gether with the high-class wellness the positive experience of guests. Edward Kuchta: There are many its wealth, drawing from nature in center BUKOVINA. After leaving, they share a positive advantages of staying with us. The such a way as not to destroy it. Expanding the hotel offer and at opinion and give us their recom- the same time diversifying it, we mendation. Today, the philosophy N A E P O R U E business www.european-business.com 4

Interview with Zdzisław Koziatek, CEO of CELLPAK Zdzisław Koziatek New innovation in packaging with the oldest material in the world Due to the increase in e-commerce, the packaging industry is experiencing a boom. New forms, sizes and weights of packaging are required. Against a background of in- creasing awareness of environmental issues, paper is replacing plastic packaging. CELLPAK in Poland is a well-known producer of paper for different packaging purposes. With its new brands RollFill and BoxFill, the company aims to enhance its international footprint in the coming years. fill empty spaces in packs are also promises. Every client is important quite new. We have two new mar- to us and we always try to find the ket brands: RollFill and BoxFill. best solution possible. Over the years, we have established a great EB: You operate in a highly com- network of suppliers and we do petitive market. What differentiates everything to ensure that the qual- you from competitors? Why do the ity of the products and services we EB: What are the most important paper is the oldest material in the customers decide to work with characteristics of paper as a pack- world. your company? aging material? What are the most BoxFill: CELLPAK’s new brand of void-filling paper important benefits? EB: Can you give some examples of Zdzisław Koziatek: Thanks to our your latest production innovations cooperation with many European Zdzisław Koziatek: The biodegra- and solutions. What are the best- producers, we offer a wide range dability of our products is one of sellers in your product portfolio? of paper types. We fulfil our orders our biggest assets. Thanks to the quickly. We draw on many years fast decomposition process, the Zdzisław Koziatek: We have refined of experience, a large spectrum of material does not pollute the en- our paper with ecological coatings, technical capabilities in our mod- vironment. In addition, paper can which make the products anti-slip, ern and extensive machine park, be recovered and recycled several and water and grease-resistant. and flexibility in the preparation times. We offer a wide range of We use ecological (environmen- and processing of paper. CELLPAK products for different packaging tally friendly) barrier coatings as is well established in the market forms, as well as various printing an alternative to petroleum-based and our clients know that they and decoration technology. Finally, plastics. Our paper fillers used to can trust us and that we keep our N A E P O R U E business www.european-business.com 6

Interview with Piotr Kula, Director of Research and Development at Olimp Laboratories Sp. z o.o. Made in Olimp – health headquarters Olimp Laboratories Sp. z o.o. is the place where fitness, health and science all intersect. Founded in 1990 and originally focused on die- tetic foods, the pharmaceutical company quickly grew to become the international success it is today after developing some key innova- tive products. Headquartered in southeastern Poland, Olimp Labs has built a reputation for being a center of fitness and scientific research, breakthroughs and education serving the Polish and international communities alike. Stanislaw Jedlinski, President Olimp Laboratories In a small town in Poland lies one in Eastern Europe for this kind of one of the first companies to im- started working there. “After Po- of Europe’s leading pharmaceuti- product. After expanding its prod- plement new ISO standards to the land joined the EU, the company cal companies specializing in fit- uct line even further, the company production of food supplements,” was able to use European funds to ness, health and dietary needs. In changed its name to Olimp Labo- explains Olimp Laboratories’ Direc- grow and modernize the business its first years, Olimp Laboratories ratories to more closely reflect the tor of Research and Development even more. One big innovation Sp. z o.o., then operating under the name Sportatut, produced dietetic food and protein products recommended for athletes. The company saw success with these products, whose formulations were eventually patented. In 1996, We became the first company in the world to market and release products in innovative Mega Caps® technology. It is the triple zero size capsule, the biggest in the world for supplement use. was the first application of Mega Capsules® in dietary supplements, which led to a higher concentra- tion of active ingredients and a lower amount of technological ad- ditives compared to tablets, which additionally makes it easier to Sportatut started manufacturing nature of its work. “We modernized Piotr Kula. Mr. Kula has been with swallow,” Mr. Kula adds. In 2008, and marketing food supplements a lot and invested heavily in R&D. Olimp Labs since 2005 and has Olimp Labs achieved another mile- for weight management, quickly Olimp Labs introduced quality seen the pharmaceutical company stone with the launch of its chain garnering a reputation as a pioneer management systems, and it was make significant strides since he of Perfect Body Center shops. This Olimp Labs’ production divisions are equipped with state-of-the-art machinery used for product innovation, up-scale process and manufacturing Products are put through rigorous testing before they are made available for distribution in various channels and for public sale N A E P O R U E business www.european-business.com 8

Interview with Piotr Kula, Director of Research and Development at Olimp Laboratories Sp. z o.o. Piotr Kula, M.Sc, Eng., Director of Research and Development at Olimp Laboratories He has been working in the company since 2005. Biotechnologist. Author and co-author of many innovative products, investment projects and patents. Involved in strategic plan- ning and new business developments. Coordinates new products develop- ment processes. Head of following departments: R&D Pharma and Medi- cal Device, R&D Sport and Functional Food; Laboratory of Research & De- velopment, Technology and Pharma- ceutical Form Development Depart- ment. -> p.kula@olimp-labs.com In brief Core Competence Innovative dietary supplements and pharmaceuticals Facts & Figures • Founded: 1990 • Structure: Part of Capital Group Olimp-Nutrifarm • Branch offices: Subsidiaries in Poland, Germany, Spain and the United Kingdom, Italy, Belgium, in the USA • Employees: More than 500 • Turnover: 100 million EUR • Export: 40% to more than 90 countries • Investments: over 80 million EUR in R&D and new technolo- gies in the past decade Products & Services • Products: over 300 including more than 1,000 SKUs • Dietary supplements, pharmaceuticals and functional food, veterinary products, R&D and contract manufacture Target Groups Pharmacies and health stores, fitness centers & gyms, B2B, B2C, E-commerce, “omnichannel”, FMCG Fairs & Exhibitions FIBO, Arnold Classic, Mr. Olympia, Body Power, Supply Side West, Health & Food Ingredients and more Philosophy A more comfortable life, strength, health and vitality Future Functional food, pharmaceuticals and personalized supple- mentation for the prevention of social diseases N A E P O R U E business Olimp Laboratories Sp. z o.o. Pustynia 84 F 39-200 Dębica Poland  +48 14 680 32 00  +48 14 680 32 65  info@olimp-labs.com  www.olimpsport.com, www.olimp-labs.com Not only popular in Poland, Olimp ent. As head of Olimp Lab’s R&D Labs maintains a large interna- department, Mr. Kula is intent on tional presence. “We export our moving the company forward and products to more than 90 coun- already has a lot of ideas about tries. Exports generate 40% of our how to accomplish that. “We are total turnover, and we continue to looking at new areas, especially grow by 10% to 12% each year. in terms of pharmaceuticals and We want to continue our dynamic functional food. One thing that is international expansion, especially really important to us is to do our in North America and Asia,” points share to prevent common social out Mr. Kula. This international diseases like cadiovascular, neu- growth is in no small part due to rodegenerative disease. We would the firm’s excellent marketing, also like to keep working with uni- such as online and at major in- versities, research units and sport dustry trade fairs. Olimp Labs also associations,” shares the director. cooperates with top universities in Poland and abroad as well in its area to help develop local tal- Olimp Labs’ state-of-the-art production facility and interdisciplinary Research & Development Centre with total area of 26,000 m2. Nutrifarm’s Intelligent Logistic Centre with capacity for 23,000 pallets & Euroboxes and approx. 129,000 m³ www.european-business.com 10

Interview with András Árvai, Managing Director of Saluxto Kft. The brand name says it all When the electro giant Electrolux invited some of its major suppliers back in 2013, one name that appeared on the guest list caught the market’s attention. Plastelektro from Budapest was among the invitees to the Swedish company’s dinner, as one of only two European com- panies to be bestowed the honour of attending. Plastelektro – the name is a combination of plastic and electro, indicating its close link to the electronics industry – has recently changed its name to Saluxto Kft; Electrolux remains its major and most prominent customer. Despite its size – with 140 staff ponents – dust bag, engine, head Hungary-based production site. I it could host the new production members, Saluxto is an average and cord winder. On average, one seized the opportunity and won the machinery. “We first got a two-year middle-sized company – and with vacuum cleaner is produced every tender. This was the starting point contract with a guaranteed pur- only eleven years in the market, 14 minutes, and we supply one for Saluxto.” the company seems to have taken of the most integral parts,” points chase of 500,000 cord winders. This number was increased to one the right decisions to make it to out Managing Director András The company chose Engel as a million, and today we supply two the top in the injection-moulding Árvai, who started the company supplier of injection moulding ma- million parts,” stresses Mr. Árvai. industry. Certainly, the long-term coopera- tion with Electrolux, for whom it produces vacuum cleaner back covers amongst other things, has We are going expand our 2k production which incorporates huge potential for further diversification. supported the upsurge in recent in 2007, and has a strong back- years. “Today, we supply all vac- ground in electronic engineering. uum cleaner manufacturing sites “I just entered the market at a time in Hungary. A normal vacuum when Electrolux was looking for cleaner consists of four main com- a supplier of cord winders for its chines and was able to acquire a large 20,400 m2 production site in Ságvár, which involves a produc- tion area of 2,600 m2 and a manu- facturing hall of 2,800 m2 where N A E P O R U E business “Currently, there is a clear trend towards 2k or ‘two-shot’ injection moulding, which consists of pro- cessing two different polymers or two different colours of one poly- mer into an end product by means of one injection moulding process. Even 3k – ‘three-shot’ – injection moulding has become a standard process. We have already started to acquire this latest technology www.european-business.com 12

Interview with Dr. David Greskovits and Dr. Zoltán Ács, Managing Directors of MEDITOP Pharmaceutical Ltd. Medicines are our passion Today, the main objective is to become a large European player in pharmaceutical manufac- turing. The prospects looked good when MEDITOP Pharmaceutical Ltd., one of the fastest- growing SMEs in Hungary’s pharmaceutical sector, first came into operation after the end of communism in 1991, but nobody could foresee the steep rise the company would experience in the years to come. However, MEDITOP is now a well-established partner to large pharma- ceutical companies, taking on contract development, manufacturing and packaging, in addi- tion to developing and producing its own medicines for the international market. “After our foundation, the entre- pharmaceutical company to re- laid the foundation of what we are six years alone, we have invested preneurial spirit was clearly over ceive the manufacturing licence today. It has enabled us to build more than three billion HUF to the top, and things really had to produce a medical product on the company and let it flourish. broaden our product portfolio, im- to cool down to start a sensible a contract basis. New customers All our earnings are reinvested to plement new production technol- long-term project. Now, 27 years on, MEDITOP has become a real success story. We are the leading name in pharmaceutical manufac- turing in Hungary and strive to take Moving forward all the time – this is the only way for us. We have to grow and find new markets. ogy, and install new infrastructure and a state-of-the-art energy sup- ply system. For our R&D activi- ties, we have invested almost the same amount. Investments are on the large international players,” and new products followed. “We fund new technologies, capacities important to keep us heading for points out Managing Director Dr. started working for the big names and medical development pro- the top,” stresses Dr. Greskovits. Zoltán Ács, who, together with Dr. like Ciba-Geigy, Merck, Darmstadt, jects. We have registered about “You cannot just rest on your lau- David Greskovits and two partners, Astamedica, AstraZeneca, Novartis 13 pharmaceutical patents since rels. It takes 100% commitment set up MEDITOP in 1991. In 1995, and the like,” notes Dr. Gresko- our foundation two decades ago,” to go forwards. We must explore Dr. Ács and Dr. Greskovits started vits. “For instance, for Ciba-Geigy says Dr. Ács. “Indeed, in the last new markets.” For the next two again with just the two of them at we started a collaboration for the the helm of MEDITOP. “Since then, primary and secondary packaging we have experienced constant of their products. We also began growth, and prospects are still to acquire products which large excellent. Last year, we generated players sold off because they were turnover of seven billion HUF, and unprofitable for them.” this year the figure will likely jump to between eight and nine billion In 1998, MEDITOP launched HUF.” the first product developed in- house onto the market. “Since While in the early days, contract 2003, at the end of the partner- manufacturing had been the ship with Novartis, which was the company’s main activity, MEDI- company’s biggest partner, the TOP has continuously widened loss triggered new research and its portfolio. After the change of development activities. We rely leadership, it was the first private on our knowledge capital that has N A E P O R U E business Continuous film coating equipment can handle batches from 6 kg to any size without limits and makes it possible to coat tablets that are heat sensitive or have low hardness www.european-business.com 14

Interview with Stefano Ghilardi, General Director of Pol-Rail S.r.l. Customer-focused transports When it comes to moving goods long distances, rail transportation is rightly seen as the most environmentally friendly solution. A train pulling 20 wagons can transport the equivalent of 40 lorries’-worth of goods. Every extra wagon pulled by a freight locomotive means several fewer heavy goods lorries on the roads. The environmental aspect is just one of the reasons Stefano Ghilardi, General Director of Pol-Rail S.r.l., a joint venture between the Italian and Polish state railways, believes that greater investment in rail infrastructure is long overdue. Train transports are a much more ecological and cost-effective alternative to road transportation A nuclear reactor on its way to its destination in Eastern Europe “As a rail freight company, of Italy and Poland and other Eastern services between Italy and Roma- services for conventional rail trans- course we want to see greater in- European countries,” explains Mr. nia. “At their peak, the two opera- port from Italy to many Eastern Eu- vestment in rail infrastructure, for Ghilardi. “Then as now, the focus tions generated 100 million EUR in ropean countries with a wide range sound economic reasons,” admits was on the transportation of bulk turnover each year with a staff of of services that includes analysis Mr. Ghilardi. “However, there are cargoes such as heavy steel, large just 25 people,” says Mr. Ghilardi. and development of the optimal also urgent environmental and metal equipment, grain and chem- “In 2007, restructuring saw parts forwarding solution, organization road congestion challenges that could also be addressed by greater use of rail-based transportation solutions.” Pol-Rail has been active in the rail transport sector for more than As a rail freight company, of course we want to see greater investment in rail infrastructure. of the business split off into sepa- of block trains and single forward- rate companies.” ing, advanced IT track-and-trace systems linked to the national Today, Pol-Rail group generates 40 railways’ own IT systems, customs million EUR in turnover and em- clearing, cargo insurance and ploys 15 people. “Our operational wagon hire to name just a few.” headquarters are in Udine and we Pol-Rail also offers a portfolio of 23 years and has risen to a pre- icals.” Today, Pol-Rail handles 1.0 also have an office in Milan and accessory services such as ter- eminent position in its market in million tonnes of goods each year financial administration office in minal facilties, warehousing and that time. “Pol-Rail was founded and manages 800 trains as well Rome,” adds Mr. Ghilardi. “We are cross-docking as well as complete in 1995 as a joint venture between as 450 wagons. These figures also still a small company, but one that supply chain management. the Italian and Polish state railways include the activities of subsidiary punches above its weight in the to promote and organize rail trans- company Rom-Rail, which was set international market. We offer our Pol-Rail’s combination of experi- port and logistics services between up around ten years ago to handle customers best-in-class logistics ence and expertise have won it N A E P O R U E business www.european-business.com 16

Interview with Silvana Martinelli and Gian Piero Bruschi, Managing Partners of Fratelli Martinelli s.p.a. Durable dies It started as a small workshop for metal parts, established by eight talented, ambitious brothers. Today, it is a leading provider of stamping solutions to the European automotive sector. Located in an area with a strong mechanical tradition, Fratelli Martinelli s.p.a. special- izes in high-quality dies to manufacture components and complete assemblies that last as long as the vehicle they are built into. Based in San Marcello Piteglio in our own technical department that Tuscany, Fratelli Martinelli has a designs all the dies according to strong focus on the automotive in- our customers’ individual require- dustry. “Automotive customers ac- ments.” The stamping depart- count for 80 to 90% of our overall ment of Fratelli Martinelli provides business,” states Mr. Bruschi. “We stamping services and is equipped work for Ferrari, Lamborghini and with over 20 high-performance other major carmakers in Italy and presses with operating forces of up abroad.” Fratelli Martinelli produc- to 1,000 t. es high-quality dies using state-of- Fratelli Martinelli specializes in high-quality stamping solutions for automotive components Fratelli Martinelli is a major Italian on providing stamping services the-art CNC machinery and more The stamping presses have producer of stamping dies with to customers outsourcing their than six decades of technological electronic feeding lines and can over 65 years of experience in die own activities in the sector. Since expertise. “We make all the dies handle dies in dimensions of up to manufacturing, stamping, welding then, the family-run company has completely ourselves, without 3,300 x 1,500 mm. The company and assembly. The company was developed into an international depending on external suppliers,” also offers assembly services to founded by Silvano Martinelli and group, with 65 highly qualified em- explains Mrs. Martinelli. “We have supply ready-to-install components his seven brothers as a producer of ployees, 16.5 million EUR in sales, small metal components in 1952. and customers all over Europe. “They started with few resources “The company has grown stead- We are a one-stop source for die manufacturing, stamping solutions and all related services. but big ambitions,” says Managing ily thanks to its specialization in Partner and Commercial Director stamping tools as well as constant Silvana Martinelli, describing the development of new markets and beginnings of the family enterprise, adaptation to changing customer which is situated in a region with demands,” says Managing Partner a strong tradition in mechani- and Technical Director Gian Piero cal engineering. In the 1970s, Bruschi. Fratelli Martinelli began to focus N A E P O R U E business Fratelli Martinelli has its own assembly unit to provide ready-to-install assemblies www.european-business.com 18

Interview with Jaka Vadnjal, PhD, President of the Management Board of LON d.d. The personal touch in banking An initiative that starts locally and originates in dissatisfaction with a particular sector may expand into a relevant challenger of that sector at a national level and beyond. A case in point is LON d.d., a bank that offers clear and personal financial services to Slovenian con- sumers and companies alike. Currently, LON has national coverage in Slovenia, with eleven branch offices, 125 employees and total assets of 265 million EUR, and is looking across its borders at surrounding markets. LON is headquartered in Kranj, about 30 kilometers north- west of the capital Ljubljana. The 25th anniversary of the founding of LON was celebrated at its headquarters in Kranj Mr. Vadnjal was the very first to buy a Bitcoin voucher at a classic LON ATM “We are quite ambitious in our confident that the personal consul- detailed explanations in person to ing project: Through its classical growth and aim to double our total tancy and services that LON offers elderly clients who are new to mo- ATMs it sold vouchers that could assets to half a billion EUR in the add great value to its products and bile banking. next three to four years,” enthuses will remain important in the future. be exchanged for Bitcoins. Al- though the regulators put a hold Jaka Vadnjal, President of the This applies not only to consumer “We see the improvements in on these activities eventually, it Management Board of LON d.d. loans and mortgages that require banking technology as an impor- was quite successful at the time since 2015. LON offers clear bank- detailed information and tailored tant opportunity for our sector, and and turned out to be an opportu- ing services with a personal touch to consumers and businesses alike, and intends to develop its private banking services as well. “We are a challenger. The big banks are becoming even bigger We are a challenger. The big banks are becoming even bigger and we believe there is much room for boutique banks like LON. nity to learn how to cooperate with companies from different cultures. “Another important FinTech pro- ject that is already in operation is our offering of consumer loans at the points of sale of our retail through mergers and acquisitions, advice. The bank also offers clear quite early on we started cooperat- partners,” the President adds. and we believe there is much room and friendly advice for young ing with FinTech companies,” ob- Consumer loans are a key financial for a boutique bank such as we people who are getting a grip on serves Mr. Vadnjal. In September product provided by LON, that al- are,” Mr. Vadnjal adds. He is quite how to handle their finances, or 2017, LON launched an interest- low for innovation and application N A E P O R U E business www.european-business.com 20

Interview with Manuel Coronado, Founder and CEO of Quality Crops Agro Srl Sowing seeds of transformation Quality Crops has combined centuries of local knowledge with advanced farming methods to increase yields while conserving soil quality and minimizing waste Rapid advancements in technology have transformed nearly every industrial sector, particu- larly the world’s oldest industry of agriculture. By incorporating technical expertise into its state-of-the-art processing facilities in one of Europe’s lesser known corners, Quality Crops Agro Srl has established itself as a leader on the new frontier of seed production. The com- pany has chosen Romania as its home base for seed production due to its favourable climate, rich soils and close economic ties to both eastern and western markets. “We consider Romania to be a hid- with its western neighbours, while mains at the forefront of Romania’s Quality Crops Agro specializes den gem in the field of agriculture: the country’s close geographic full seed production service com- in the multiplication of a few key The country boasts a vast and fertile landscape as well as an ex- perienced workforce, which have enabled us to grow our business exponentially since 2004,” ex- plains Manuel Coronado, Founder and CEO of Quality Crops Agro. We consider Romania to be a hidden gem in the field of agriculture. cultures like corn, sunflowers, rape seed and soybean, which Mr. Cor- onado aptly categorizes as ‘inten- sive care’ crops. “Our core busi- ness is hybrid seed production, especially corn and sunflower seed – crops that require a high degree Moreover, Romania’s European proximity to eastern markets fur- panies, having been the first of its of sophistication and perfect at- Union membership has perma- ther facilitates diversified business kind,” adds Mr. Coronado. tention to detail in order to achieve nently propped open trade doors relations. “Quality Crops Agro re- the high quality standards that the Quality Crops employs cutting-edge innovations in the production of its seeds, in- cluding the No-Till farming method as well as Silo Bag storage systems N A E P O R U E business www.european-business.com 22

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