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A word from the president
from the Annual Report 2009
Going into 2009, we were expecting that our resilience, ingenuity and business model was going to be challenged as a result of volatile markets and a very difficult business environment.
However, our fears that we would be forced on the defensive fortunately did not materialize. The year started in confusion in the wake of the global financial crisis with weak demand and poor price development in most segments. Conditions were challenging and the four product divisions all had their own specific difficulties to deal with, but also significant opportunities to manage. Everyone worked very hard to make the best of the situation and the Paper and Pulp divisions were particularly successful. As the year progressed, conditions improved and the company’s total business volume turned out to be very healthy. For the third consecutive year CellMark transacted more than five million tons of product and overall, 2009 ended with a very satisfying operative result.
While the company’s performance was stronger than anticipated, we were put to the test in several ways. Particularly in the area of trade finance and credit risk mitigation, it proved at times very difficult to meet the level of service required. Thanks to excellent assistance and support from our longstanding partners in the banking and credit insurance industry, we could continue to drive our business forward without significant restrictions.
During the year, we have continued to develop new areas of activity. The Pulp division has actively pursued new opportunities in the field of woodchips and biofuels. The Recycling division is expanding its plastics business, acquired yet another recycling plant in eastern USA and is moving ahead with a major recycling project in Latin America. Paper Division is expanding into more specialized markets around the globe that includes Book Papers, Foil as well as several others. CellMark Packaging continues to add staff and structure to support a continuously broader sales area and additional product groups for the packaging industries.
2009 was a successful year for CellMark. As always, we are indeed grateful to our partners in business throughout the world, who has given us their invaluable support and made it possible to achieve our goals.
Success in our business is really all about people and in our case, the CellMark people. We take pride in what we do and work hard to protect our principles and values. Integrity, trust, transparency and accountability continue to be key elements in our corporate set of values. These are still defining our way of operating and continue to guide us on our path forward. As we have seen in the recent past, circumstances change unexpectedly and we must be agile and flexible, without losing the fundamentals on which the company was built. |
