US firms stream into Serbia
WORKERS, SEPT 2006 ISSUE
Just in case you were in any doubt why back in 1999 a US-led NATO force bombed Yugoslavia (by then only Serbia and Montenegro) into submission, consider that by 2003, the US had become the top investor in Serbia.
In August 2003, Phillip Morris Corporation bought the NIS Tobacco Company through privatisation, investing $650 million, while US Steel acquired Serbia's steel producer SARTID through a similar process for over $250 million. Galaxy Tyres of the US bought Ruma Guma, a specialist tyre company, through privatisation and the Colorado based Ball Corporation made the largest greenfield investment of $75 million constructing a factory to manufacture metal cans.
Meanwhile, Coca Cola has bought the bottled water producer Vladinska and Dyncorp International has a won a tender to build a $60 million cargo terminal and set up a joint venture with Belgrade Airport following a US Transportation Administration feasibility study. Van Drunen Foods of Illinois is snapping up all the agricultural assets it can for export.
Presumably this is softening Serbia up for NATO membership and EU membership as these are the usual conditions to join. Meanwhile, Kosovo Province of Serbia remains under EU/NATO occupation.