Companies in the Balkans- III (1902-1918)

Blerim Abedini, Institute for Security Studies and Development, ISSD-NM

When we are geting sources from previous centuries, we will face mix of events in certain society. We can’t forget bloody wars in Europe which prevented progress of nations. Some of the important events as inventions in the World and wars mainly in the Balkans are:

In 1900

Kodak company introduces Brownie cameras.

Max Planck(1858–1947) formulates the quantum theory.

In 1901

The first Nobel Prizes are awarded, in physics, chemistry, medicine, literature, and peace.

Guglielmo Marconi receives a radio signal from Cornwall, England, consisting of the Morse code for the letter “S.” It is the first transatlantic transmission.

The Trans-Siberian Railway officially opens for business, connecting European Russia to Siberia and the remote far east.

Albert Einstein proposes his Theory of Relativity.

Finland becomes the first European country to give women the right to vote.

In 1907

The’Ten Rules of War‘ are established at the Second Hague Peace Conference.

The first electric washing machine- Thor, is sold by Hurley Electric Laundry.

In 1908

The first Model-T automobile is released by Henry Ford in Michigan.

In Britain, Ernest Rutherford became father of nuclear physics.

Italy declares war against the Ottoman Empire, in Libya.

Danes launch the most advanced ocean-going diesel-powered ship, the Selandia.

In 1912

Italy’s war against the Ottoman Empire continues in Beirut.

Serbia and Bulgaria secretly sign an alliance about defense from others.

France takes responsibility for naval in the Mediterranean Sea.

The Ottoman Empire is losing prestige.

The First Balkan War begins.

The Serb victory at the Battle of Kumanovo continues by reaching the Adriatic Sea.

Austria-Hungary threatens war against Serbia.

Germany’s Kaiser Wilhelm promises Archduke Ferdinand that Germany would back Austria-Hungary in a confrontation with Serbia.

In 1912

Albania declares independence from the Ottoman Empire.

In 1913

In Turkey, young military men take control of the government, overthrowing the Sultan.

Austria-Hungary and Russia agree to demobilizations that end their war crisis.

Russia is not going to back Serbian ambitions to gain access to the Adriatic Sea or Montenegro’s ambition to take the city of Scutari.

Bulgarian had surrounding the Ottoman Empire’s city of Adrianople, in Thrace.

The Treaty of London is signed at an international conference of Europe’s ambassadors. It focuses on borders and settles what will be called the First Balkan War.

The Second Balkan War erupts when Bulgaria attacks its former allies Serbia and Greece.

Romania declares war on Bulgaria.

The Ottoman Empire declares war on Bulgaria and advances into Thrace.

Bulgaria has been defeated by the forces of Serbia, Greece and Romania.

Delegates from Bulgaria, Romania, Serbia, Montenegro, and Greece sign the Treaty of Bucharest, which ends the Second Balkan War.

In 1914

Archduke Franz Ferdinand has plans to inspect Habsburg troops in Bosnia when it happened assassination by Gavrilo Princip.

Tsar Nicholas II of Russia signs the order to mobilize his army, to defend Serbia from Germany and Austria-Hungary.

Austria-Hungary declares war on Russia. Serbia declares war on Germany.

French troops begin their invasion of Germany, through Lorraine.

Great Britain and France declare war on Austria-Hungary.

Russia invades Germany’s homeland in East Prussia.

Russia declares war on Turkey.

Britain and France declare war on Turkey.

In 1915

In a five-day battle the Russians won over Turkey’s army.

An offensive begins at Gallipoli, the Turks led by Mustafa Kemal will push the invaders back.

In 1916

Bulgaria declares war on Romania.

In 1918

The Italians smash Austro-Hungarians at the Battle of Piave River.

Hungary is declared a Democratic Republic .

A union of Serbs (with Montenegrins), Croats, and Slovenes are formed and declared a kingdom.

See link, World History Timeline, 1915 (

Companies in the Balkans(1902-1918)

The 1902 year. TITAN Group of Greece is a producer of cement and building materials. The Group’s parent company is TITAN Cement International(TCI), a Belgian company listed on Euronext Brussels, Euronext Paris, and Athens Exchange. The statutory seat of TCI is in Brussels, while its seat of management is in Cyprus.

The 1907 year. EmpirikiBank-the Commercial Bank of Greece (CBG) was established. In 1922, CBG established Commercial Bank in London. CBG expanded international operations further with branches in Alexandria in 1925 and Cairo. In 1960 the Egyptian government nationalized all banks in Egypt, including CBG’s branches. In 1990, CBG renamed its subsidiary in London to Commercial Bank of London. In 1996 Bulgarian Investment Bank became International Commercial Bank. CBG also established a wholly-owned subsidiary, International Commercial Black Sea Bank (Romania). CBG established Commercial Bank of Greece Intercommercial Bank (Albania) S.A., which started operating in the 2000 year. The profitable subsidiaries in Albania, Bulgaria, and Romania were integrated into Crédit Agricole. Subsequently, the less profitable branch in Greece fall into crisis and was sold off one year later to Alpha Bank for €1.

The 1911 year. Lavipharm S.A. was founded and is the largest Greek pharmaceutical company that develops, manufactures, manages markets, and distributes pharmaceutical, cosmetic, veterinary, and consumer health products in Greece and internationally. Lavipharm S.A. has pharmaceutical products for Asthma, dermatological, gastrointestinal, neurological, cardiological, general medicine, and pain management treatment. Lavipharm also produces the headache tablet Algon.

The 1916 year. A group of shipowners in Piraeus founded Piraeus Bank BP. The bank started trading on the Athens Exchange in 1918. The Greek government bought the bank in 1975 and transformed it into a universal bank. In December 1991 the government privatized the bank.

In 1995 the Group established Piraeus Bank Romania with 160 branches and one year later Tirana Bank, with 56 branches. In 1999 with its acquisition of Xiosbank in Bulgaria, PB took 83 branches. In 1998 the bank absorbed the Greek branch networks of Chase Manhattan Bank, Crédit Lyonnais, and acquired a controlling interest in Macedonia-Thrace Bank. In 2005 it acquired the Bulgarian Eurobank, Atlas Bank in Serbia, Egyptian Commercial Bank in Egypt. In 2005 Piraeus Bank acquired the Belgrade-based Atlas bank with 42 branches. Within the European debt crisis, Piraeus Bank in June 2012 Piraeus sold its shares in Marathon Banking Corporation (New York City) to Investors Bancorp. The European Commission following the Greek government-debt crisis, in November 2015 approved amended restructuring plans for Alpha Bank and Eurobank and then for Piraeus Bank on 29 November 2015, allowing a new injection of €2.72 billion of public funds via the Hellenic Financial Stability Fund. In September 2017, sold Serbian banking and leasing operations to Direktna Banka A.D. In December 2017, it sold Piraeus Bank Romania to J.C. Flowers & Co. In November 2020, the total market capitalization of the bank was less than €500 million.

The 1918 year. “General Company of Commerce and Industry of Greece” was established in Greece. In 1922 was renamed to Attica Enterprises S.A., and later changed to Attica Group. Two years later in 1924, it was listed on the Athens Stock Exchange. In 1993 year a new management team, created the shipping subsidiary Attica Maritime S.A., later renamed to Superfast Ferries Maritime S.A., Superfast I and Superfast II. In 1996, July: Two new Superfast car-passenger ferries, Superfast III and Superfast IV, cruised in Finland. In 1998, April: Superfast III and Superfast IV delivered in Ancona. Superfast VII, Superfast VIII, and Superfast IX serving on the Rostock, Germany – Hanko, Finland route in the Baltic Sea are sold to AS Tallink Grupp and will continue sailing until the end of 2007. Attica Group maintains its presence in the Baltic Sea. Attica enters into an agreement to sell to Veolia Transport its ice-class vessel Superfast X trading between Scotland and Belgium for a total cash consideration of Euro 112mln. Blue Star Ferries is voted “Passenger Line of the Year” at Lloyd’s List Greek Shipping Awards. Brittany Ferries entered into a contract to buy the Superfast V from the Attica Group at the sum of €81.50 million, with delivery in February 2010. In 2018, May: The Group acquired the control of “Hellenic Seaways“, by completing the acquisition of the majority of shares (50.3%).