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Message from the President of the Board
Extract from the 2011 Annual ReportSir/Madam,,
2011 marked a turning point for the MGI COUTIER Group. For years we sought to achieve external growth that might actually make sense. The ideal target had to allow us to grow our customer base, gain a foothold in new geographical areas and have products to complement our own products. The AVON AUTOMOTIVE Group met all these criteria and also provided us with competency in a new line of business, namely the processing of rubber. Henceforth, the MGI COUTIER Group, with its new configuration, is ranked among the world leaders in the field of Fluid Transfer. This new group’s customers, employees and suppliers were excited by this deal, just like us. The integration process is under way. It will take some time, as we have to first of all get to know AVON AUTOMOTIVE. However, I am very optimistic that we will be able to take the best of both groups.
Acquiring AVON AUTOMOTIVE should not overshadow everything else that has been done in preparation for the future. I will only mention three emblematic events. Firstly, acquiring the company, Deplanche Fabrication, allowed us to incorporate a team specialized in the design and manufacture of plastic injection moulding tools. Through this transaction we have been able to add new skills to the group which may help to set us apart from our major competitors. Secondly, the decision to resume construction of a new industrial site in Romania will allow us to acquire a production base by the end of 2012 that is particularly well located in Central Europe, close to the manufacturing plants of several customers. Lastly, setting up an operation directly in India dealing exclusively in motor parts will allow us to benefit from potential growth in this country in the automotive sector and to meet the expectations of a number of customers.
The future can never be taken as read, especially in the automotive sector. However, I have every confidence in the MGI COUTIER Group’s ability to grasp and make the most of every opportunity that comes its way.
André COUTIER
President of the Board
President of the Board