A major investment worth 24 million euros marks a step towards global recognition for 14. Oktobar, a centennial company that has, within the last year, become one of the most desirable employers in Kruševac and the surrounding area
Company 14. Oktobar recently commemorated its 101st anniversary, with the celebration providing an excellent opportunity to present future plans and announce new investments. Here CEO Petar Miljković shares his insights with CorD Magazine, addressing innovation, automation, digitalisation and investment in people, among other topics.
You are planning substantial investments in the building of facilities and infrastructure, purchasing equipment and increasing production capacities and employment levels. What is the scope of this investment?
— The planned investment of €24 million represents a significant step forward in enhancing our production and technological capabilities over the next three years. Our goal is to meet top industry standards, keep pace with global demands, expand our capacities, and develop new products that will enhance our global market recognition and reputation.
These considerable investments will boost our competitiveness and ensure the factory’s long-term sustainability while contributing significantly to the development of the local community and economy. We additionally place great emphasis on safety and product quality as our top priorities, thus ensuring that we meet the needs of our partners and customers.
Investing in people is the first pillar of your success, while automation and digitalisation form the second. Is that correct?
— Absolutely! Innovation, automation and digitalisation are key factors that we focus on and will continue to prioritise in the future. Over the past two years, we have invested in machinery that eases employees’ workloads and in digitalisation, which is essential for modern business operations.
CSG is a globally recognised industrial and technology group with production capacities worldwide, enabling us to be part of a vast international network
We believe that investing in people is the fundamental and most important pillar of our success. We consistently invest in employee development, as their satisfaction and numbers are crucial to our company’s long-term stability and progress.
Your defence industry segment is “sold out” three years in advance. What about your civil sector operations?
— The civil sector represents a significant part of our business. We manufacture high-quality metal components for a wide range of industrial sectors, including civil machinery.
Although we don’t currently provide specific figures for civil production, our products in this segment meet the highest international standards and demand for them remains consistent. Considering our continuous investments in innovation and process improvements, we are confident that growth in this sector will continue.
The 14. Oktobar factory was privatised by the Czechoslovak Group, which operates in numerous countries worldwide. How important is it for your operations that you belong to such a major group?
— Belonging to the Czechoslovak Group (CSG) is immensely important for us. CSG is a globally recognised industrial and technology group with production capacities worldwide, enabling us to be part of a vast international network.
Since we became part of CSG back in 2017, our factory has undergone significant modernisation and expansion. CSG consistently invests in all its companies, including ours, allowing us to upgrade production facilities, improve quality and expand our market reach.
This affiliation is crucial, as it enhances our competitiveness, efficiency and sustainability on the global market.