Heading into 2007 with new ideas.
As 2006 comes to a close, we can reflect on a year that has shown the need for numerous changes in how we approach our collective industrial business. As some of our historical manufacturing and industrial base disappears and consolidations of companies runs rampant, we are continually looking at different opportunities in new markets and new applications.
The old standby manufacturing areas of textiles and paper are being extremely hard hit. Textiles is virtually non-existent in the areas where it was the number one industry for generations and the paper industry sees continued mill closures and idle machines. Tire and Auto plants going dark as companies "streamline" and become more "cost conscious" directly affecting thousands of employees and indirectly, suppliers and distributors like us.
There are some bright spots, the steel industry appears on a rebound and Barco has been providing some successful unions to those applications. The printing industry continues to flourish and we have been extremely aggressive in pushing at this market with some of our best results to date providing extended warranty and attractive pricing to the end user.
2007 is just around the corner and we look forward to another successful year with our business partners, as the industrial base continues to shrink with consolidation closures and manufacturing moving offshore, we need to become smarter in winning the customers trust and business by providing the optimum in service, quality and at a price they can count on. Barco is committed to providing this support and we look forward to proving that commitment to all our customers and distributors.
All of us here at Barco would like to thank our distributors, customers and other partners for their help and input during 2006. We look forward to a challenging and changing 2007 but are confident that the products and support we can supply and the commitment of our colleagues world wide, will provide a most successful and rewarding new year for us all.
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Looking Forward