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Emil Frey Group investments to continue with the support of Daimler AG and Agrokor

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Agreement on cooperation in the field of commercial vehicle service and maintenance signed

Today at the Agrokor Group headquarters in Zagreb Walter Frey, President of the Swiss Emil Frey Group, Peter Alexander Trettin, President for Central/Eastern Europe, Asia and Africa at the German Daimler AG Group and Ivica Todorić, President of the Agrokor Group, presented a cooperation in the field of commercial vehicle fleet service and maintenance for all companies of the Agrokor Group. The announced cooperation which is about to start on 1st January, 2015, will be based on the investments planned by the Emil Frey Group in the region, which have already started with the Group's role as general distributor for Daimler AG vehicles in Croatia, Serbia and Montenegro and today's signing of the agreement on the cooperation and takeover of the commercial vehicle service workshop together with a team of 40 people from Agrokor's company Jamnica in Croatia. Based on the cooperation with Agrokor Group companies, it is planned to start a greenfield investment in a new commercial vehicle service facility, to be completed within the course of two years.

The Emil Frey Group has been present in the region since October 2013, when they became general distributor for Daimler AG in Croatia, importing and distributing the brands Mercedes Benz, Smart, Evobus and Fuso through the companies Star Import d.o.o. and Emil Frey Auto Centar d.o.o. Since February 2014 they have also been present as general distributor for these brands on the markets of Serbia and Montenegro. It is planned to further expand the activities for Daimler to other markets in the region. Star Import d.o.o. and Emil Frey Auto Centar d.o.o. are based in Zagreb and have established a reliable network of authorized sales and after sales partners for a wide range of Mercedes-Benz models and other brands, focused on commercial vehicles, with a view to achieve high customer satisfaction. In their first year of operation the two companies have opened 100 new jobs in Croatia.

On the occasion of presenting the cooperation, Walter Frey, President of the Emil Frey Group, said: „Croatia has potential, I believe in it“.

Heinz Schneiter, responsible for the Emil Frey operations in Croatia, said on the occasion of signing the agreement with Agrokor: „With an excellent service and know-how, the commercial vehicle fleet of Agrokor Group will be maintained directly by specialized Mercedes-Benz partners, which will enhance the confidence of our partners and customers in our organization. Daimler is supporting us in this new responsibility”.

Peter Alexander Trettin, President and CEO for Central/Eastern Europe, Asia and Africa at Daimler AG, pointed out: „Daimler has had a cooperation with Agrokor since 22 years already. We are convinced that this cooperation will be strengthened with the participation of the Emil Frey Group. Together we will invest our best efforts to justify the confidence that Agrokor and its companies have placed in our Group for such a long time.“

President of the Agrokor Group Ivica Todorić noted: „Agrokor gives great importance to any investment and new job openings. Companies of our Group have continuously been investing their own capital, but have also supported their domestic and foreign partners ready to invest in Croatia. It is a particular pleasure when the partners are reputable international companies like these and we are convinced that their successful operations will serve as a role model for others and encourage them to invest in Croatia and the region.“

Agrokor's fleet comprises 3,500 light and heavy commercial vehicles, mostly Mercedes-Benz. For the needs of all Agrokor companies, Jamnica has for almost 20 years successfully provided maintenance services in its own service workshop, covering more than 60% of Agrokor's Croatian fleet today. Over this period Jamnica has built up an educated team of professionals with more than 40 employees, able to cope with any challenge or need of the commercial fleets of Agrokor Group companies. In view of the accomplished and planned growth of Agrokor companies, which also includes the growth of their fleets, there is a strong need for the maintenance services to be further enhanced and become more efficient.

The Emil Frey Group is a family-owned Swiss company, founded in 1924 by the mechanic Emil Frey, with headquarters in Zurich, Switzerland. The company is mainly focused on the automotive business (car wholesale, car retail, car finance as well as car and part logistics) and operates in Switzerland and other European countries.