Construction Equipment GLOBAL

Financial know-how that makes a difference

Construction company Bemax is a heavy player in building Montenegro’s infrastructure. To meet demands and grow, they needed someone to understand their plans and needs. Enter Volvo Financial Services who have worked closely with Bemax for five years. It has resulted in 126 Volvo units sold, which are now building the highways of Montenegro.

Financial know-how that makes a difference

“One of the decisive factors to choose Volvo was the possibility to purchase equipment combined with a competitive and flexible financial solution. Volvo representatives demonstrated sincere interest in our business activities and our growth plans,” says Veselin Kovačević, owner and Managing Director of Bemax. He continues:

“They met with us on several occasions and as they learned about our existing and new projects, they suggested the best suited products, and advised us on the most optimal credit structure.”

The cooperation started in 2015 when Bemax placed the first order for 12 Volvo A30G Articulated Haulers, to be utilized on the first section of the highway connecting Port of Bar in Montenegro on the South with Boljare, Serbia. Since then, the cooperation has grown with Volvo Financial Services as a proactive, close partner. 

“It is a great honor and privilege working with Bemax. It is particularly rewarding that they are gradually changing their fleet of almost 400 units to becoming more and more Volvo dominant. They use our financial services, and also the full scope of aftermarket services in the local dealership in Montenegro,” says Mimi Ilioska, Director Cross-Border Finance at Volvo Financial Services.

Volvo Financial Services’ work was vital in securing the partnership, which so far has generated business in the form of 126 Volvo units – and counting. In the end of 2019, Volvo Financial Services provided additional financing for 45 Volvo Trucks and a credit line to facilitate Bemax’s needs for Volvo CE or Volvo Trucks units during 2020. The key to this fruitful partnership for both companies, says Mimi Ilioska, was a focused commercial team customer centric approach and flexible financial solutions. 

“A majority of the tenders for new projects are announced with very short lead time. When a company like Bemax is selected for a particular project, they need to be ready to start and have appropriate equipment available at very short notice,” says Mimi Ilioska.

“So, we always plan ahead. We meet with the customer regularly, learn about their potential needs, discuss the best possible financial structure tailored to specific equipment or projects and make sure they have financing available in time. We always have a pre-approved credit line that they can utilize with financial terms that are in line with the needs for the specific project. We are here to earn the customer’s business, so we do everything we can to make that happen.”

FOR FURTHER INFORMATION

Tiffany Cheng

Vice President
Brand, Marketing and Corporate Communication Region Asia
E-mail: tiffany.cheng@volvo.com

Brian O'Sullivan

SE10
London
Tel: +44 7733350307
E-mail: osullivan@se10.com