Novi Sad's Adeco planning to step up export – Turnover increases by 18.82% in nine months

The Novi Sad company Adeco is planning to have export make up more than 40% of its total turnover by the end of 2016. The company produces motor oils, industrial oils, lubricants, antifreeze, car cosmetics and AdBlue, being one of the leading producers of this product in Serbia.

– This is confirmed by the new markets we've managed to penetrate, namely, Hungary, Bulgaria and Greece. The results in the first nine months of 2016 say that the operating turnover was higher by 18.82%, whereas the export was higher by 38% compared to the last year, with the sales higher by 27.78% – claims Milos Gvozdenovic, Commercial Director.

The company's exports have increased considerably since 2014, from 25% to 30% of the total turnover in 2015. The main markets for export in this period were the former Yugoslavian states.

The company aims to expand the sales to other countries of Europe in the next five years, as well as to other continents, primarily Asia and Africa.

– We employ around 50 people today, of which nearly 30% with college and university degrees. The average age of our employees is 43 and they have all contributed with their work, knowledge and experience to Adeco's becoming what it is today and turning from one man's dream to a family business and a recognizable brand in local and foreign markets – Gvozdenovic says.

ADECO doo Novi Sad

Adeco Novi Sad

production of motor oils

production of industrial oils

production of antifreeze

production of car cosmetics

AdBlue

Milos Gvozdenovic