NORDIC CHAMBER eNEWSLETTER BUSINESS GROWTH THROUGH DIVERSITY AUGUST 2015 AUGUST 2015 he Nordic Chamber strongly supports he Czech nuclear energy specialist ÚJV countries, last year increased its turnover by 44 Tthe fifth Pride Business Forum that TŘež has closed a framework contract percent to CZK 292 million; exports grew by 61 will take place in Prague during the Prague with Finland’s Fennovoima. The company’s percent to 209 million. Frost Food was in 1997 Pride Festival in mid-August. Moderated goal is to offer engineering, technical and ex- acquired by the Norwegian food giant Orkla, by the BBC’s economic anchor Evan Da- pert assistance in the coming construction of which invested heavily in modernized produc- vis business executives from Central and Hanhikivi 1 nuclear power plant in Finland’s tion technology before pulling out in 2008. To- Eastern Europe will join with leaders from Northern Ostrobothnia region. The plant, day, Frost Food’s main brand Don Peppe also Western Europe to discuss the business val- projected with a Russian-designed pressur- has a strong market position in Slovakia and ue of an open and inclusive culture for LG- ised water reactor, is scheduled to be in op- Hungary. Based in Rokytnice in East Bohemia, BTI employees, suppliers and customers. eration from 2024. “Finland is an important the company employs 145 people. (E15) This is a great opportunity to learn about EU member; ÚJV Řež considers Finland’s business opportunities for companies that interest in developing [nuclear] energy as a MEET OUR NEW MEMBER take active steps to create an inclusive strategic decision and a recommendation to environment for lesbian, gay, bisexual, other countries in the region,” Board Chair- Founded in Norway in 1877, Helly Hansen transgender and intersex employees. More man Karel Křížek commented. (ÚJV) develops their apparel through a blend of info at www.pridebusinessforum.cz. Scandinavian design and insights drawn from living among some of the harshest en- árka Heyna Fuchsová has replaced Frank vironments on earth. The brand represents ŠVersaevel as general director of Volvo the optimal combination of performance, Car Czech Republic; Mr Versaevel has been protection and style, and continues to protect named head of Volvo’s operations in Turkey. and enable professionals making their living Mrs Heyna Fuchsová, who is the fi rst Czech on oceans and mountains around the world. national to head the Swedish car manufacturer The company has a long list of fi rst-to- in the Czech Republic, started her career in market innovations including the fi rst sup- Young & Rubicam. After joining Volvo in ple, waterproof fabrics more than 130 years 1999 as marketing manager, she has held sev- ago, the fi rst fl eece fabrics in the 1960s, the eral leading positions in various departments fi rst technical base layers in the 1970s and of the company. “I am very happy to get this chance to ensure the company‘s continuation he COS fashion chain, which is one of in a time with signifi cant changes of Volvo Tthe six independent brands in the Swed- models,” Šárka Heyna Fuchsová says. ish Hennes & Mauritz concern, will open its fi rst store in Prague this autumn. With a fl oor- age of 500 square meters and locations in the upscale Pařížská Street, the COS store will be among the larger of its kind in Prague. COS is H&M’s option for women and men who want timeless, functional and considered de- sign, where style weighs heavier than fashion today’s award winning H2Flow temperature trends. Since launching in 2007, COS has regulating technology. Helly Hansen is the opened 125 stores worldwide in carefully global leader in technical sailing and work- considered locations; four stores are located wear apparel. More info at www.hellyhans- in Poland and three in Austria. (Týden) en.com and www.hhworkwear.com.

ne of the Czech Republic’s largest produc- Štěpán Svoboda Oers of frozen pizza, Frost Food, which ex- Country Sales Manager ports a large part of its production to the Nordic Helly Hansen Czech Republic s.r.o.

MALMSTRÖM SURPRISED BY TTIP EMOTIONS ICELAND’S PIRATES LEAD THE POLLS PRAGUE (TBE) – Cecilia Malmström, the EU’s Commissioner for Trade, REYKJAVIK (SDH) – Iceland’s Pirate Party has emerged as the country’s visited in July Prague to speak about the ongoing trade negotiations be- most popular party, favoured by one third of Iceland’s voters. “They know tween the EU and USA. Interviewed by LN daily the Swedish Commission- we want to transform and change the system on a really deep level,” er says she was amazed by the strong reactions that the planned Transat- party chairwoman Birgitta Jonsdottir comments. The Pirate Party is like lantic Trade and Investment Partnership have triggered. “I knew this was Syriza in Greece, Beppe Grillo’s Five Star Movement in Italy, or the pi- a controversial subject and expected debates, but the wave of emotions rate parties in Germany or Sweden, but Iceland is the pirates’ greatest came as a surprise to me,” she says. According to the Commissioner, the success. Jonsdottir puts it down to the depth of the country’s fi nancial planned agreement is accompanied by many myths and misunderstand- crisis. “In a crisis time there’s a window that is open for change.” Ice- ings. “The EU will defi nitely not give up its standards,” she assured LN. land’s next elections will be in 2017.

SKANSKA REALITY EXPANDS IN MODŘANY PRAGUE (E15) – Skanska Reality, the residential part of the Swedish construction giant Skanska, has acquired an almost eight-hectare site from the Israeli developer Neocity in Prague Modřany. A sugar refi nary, now demolished, was earlier located at the brownfi eld site. “Our intention is to transform the former refi nery site into a mix of apartments and a reasonable degree of commercial functions,“ Skanska Reality’s general manager Naďa Ptáčková commented. This is the company’s third ac- quisition in 2015. In February Skanska Reality took over a 533 fl at pro- ject, River Gardens, in Karlín. In April the company bought a four-hectare brownfi eld site in Michle. NORDIC CHAMBER eNEWSLETTER NORWAY CLAMPS DOWN ON CORRUPTION

AUGUST 2015 celand has been ranked as the world’s the fi rst European Green Capital award gest corruption scandals ever. Prosecutors Imost peaceful nation by the Global in 2010 by the European Commission. had accused the men of paying around USD Peace Index (GPI). The GPI is composed (Dagens Nyheter) eight million in bribes to offi cials in India and of 23 qualitative and quantitative indicators Libya for the right to establish joint ventures. from highly respected sources and ranks 162 he Finland-based global elevator and Former CEO Thorleif Enger got the longest independent states, covering 99.6 per cent Tescalator fi rm KONE is strengthening sentence of three years; his lawyer said he of the world’s population. The index gauges its position in Europe. In July it acquired would appeal the sentence. Three other for- global peace using three broad themes: the Klostermann Aufzüge, a German elevator mer Yara managers were sentenced to two- level of safety and security in society, the maintenance and modernisation services year jail terms. Yara acknowledged last year extent of domestic and international confl ict company. The company based in Herne, that it had paid the bribes and agreed to pay a and the degree of militarisation. Denmark North Rhine-Westphalia, employs about NOK 295 million fi ne. (Reuters) ended in 2nd place; Finland in 6th; the Czech 40 people and has contracts for servicing Republic in 10th; Sweden in 13th and Nor- about 1,300 elevators. The purchase price ccording to recent statistics, Denmark’s way in 17th place. (IEP) Afood waste has fallen by 25 percent since 2010 – the equivalent of DKK 4.4 bil- ars will be banned from Stockholm lion. The result makes Denmark the leader Ccity centre for the fi rst time on Septem- for waste reduction in the whole EU. The ber 19th as the Swedish capital takes part result is a tribute to Stop Wasting Food in a Europe-wide initiative to encourage NGO, which is continually striving to in- greener travel. All roads will be closed in crease public awareness of cooking lefto- Stockholm’s Old Town, which is already vers, shopping more wisely and distributing partly pedestrianized, as well as in many of surplus food to shelters for the homeless the busy shopping streets around the central and other charities. In addition, Danish station and on several of the city’s major was not disclosed. Earlier this year KONE politicians have placed food waste on their bridges. The Swedish capital already en- acquired Dortmund-based elevator manu- agenda. All supermarket chains have a food facturer and maintenance fi rm Janzhoff Aufzüge, which at the time of the transac- tion had about 2,400 elevators in its main- tenance portfolio and about 100 employees. KONE has repeatedly been ranked among the world’s most innovative companies. (YLE)

Norwegian court has sentenced four A former top executives at Yara, the joys a global reputation for having cleaner world’s biggest nitrate fertilizer maker, to waste reduction strategy. Denmark has also air and fewer vehicles on its streets than long prison sentences for paying bribes in established the world’s fi rst international most other European cities and was given Libya and India, in one of the country’s big- think-tank against food waste. (CPP)

General Partner of the Nordic Chamber of Commerce

THE KORUNA-CROWN-EURO INDEX HOLLAND LARGEST OWNER OF CZECH COMPANIES End VII/2015 End VI/2015 Reg. capital Companies Euro 27,025 CZK 27,230 CZK Netherlands 229.8* 3 184 Danish kroner 3,622 " 3,650 " Germany 216.8 10 020 Icelandic krónur 0,185 " 0,185 " Austria 89.0 3 710 Norwegian kroner 2,996 " 3,104 " Slovakia 37.8 10 260 Swedish kronor 2,859 " 2,939 " United Kingdom 37.5 3 036

Source: ČNB *In CZK bill. Source: Bisnode UPCOMING CHAMBER EVENTS Date Event Venue 27 Aug. BM Meet our member: CTECH s.r.o. Prague 4 17 Sep. BM Aperitif at MASERATI show room 23 Sep. BB Energy savings Lindner Hotel Prague Castle 1 Oct. BM Lund’s Business Mission to Prague 8 Oct. FOK a concert with Pietari Inkinen and tenor Jose Cura Obecní dům 14 Oct. BB Customs processes with countries outside the EU

For more details please see www.nordicchamber.cz/events. If you want more information about the Chamber’s activities please don’t hesitate to contact us at [email protected] or telephone +420 774 123 370.