Annual Report 2007 - Muehlhan AG

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16 From the business divisions Muehlhan serves the international markets for surface protection with the four business divisions Ship Newbuilding, Ship Repair, Oil & Gas Offshore and Industry Services. Based on a long history, the marine markets are the primary focus when doing so. In recent times we have been increasingly moving our core competencies into new fields. One is surface protection for wind turbines. Also, the service sector is gaining increasing importance. All in all, our Group is extremely well-positioned: We can adapt to market developments in a very flexible manner with a well-coordinated range of services. ship newbuilding Initial coatings for ship surfaces Surface coatings for ships has been Muehlhan’s core competence for many decades. When it comes to coatings for ship newbuilding, we take on the entire project for our customers – from planning to management and implementation through quality management. Muehlhan provides everything from a single source. We are integrated into the work processes and value added chains of our customers at the respective shipyard locations. during the periods of construction of from one half year to one year, our blasters prepare the ship segments for their coating. the protective coating system is subsequently applied, and then we release the ships of our customers onto the oceans. a service life of 30 years for the ships is not a problem with high- quality surface protection. increasing sea transport rates and high demand for specialty ships are the cause of the current strong newbuilding rates. We also do not anticipate a change in this trend in the coming years. Muehlhan will greatly benefit from this development in the future. With regard to the coating work, Muehlhan focuses on the rather demanding responsibilities in this business division: this includes surface protection for water ballast tanks. Water ballast tanks provide the required sta bility for a ship with different cargoes. to coat them requires special equipment, high quality standards and special experience.
Continued and consistently good business performance expected during the past year, the Ship Newbuilding business division provided a strong contribution to sales, primarily through our German and European subsidiary companies. We see very good opportunities for development throughout the Group in the coming years, both for Europe and for asia. Since the middle of 2007, Muehlhan has been represented by a subsidiary company in what is anticipated to be a large market in the future: China. in addition to the ship market controlled by cargo and commodities, great importance will be attached to the construction of luxury yachts: Even today, the capacities of our shipyard customers in this specialty segment are booked up for the next five to six years. Muehlhan anticipates good opportunities to consolidate and expand its share of the newbuilding market at a high level. ship repair ManaGeMent divisions share Group ManaGeMent report Group Consolidated FinanCial stateMents Segment benefits from the newbuilding boom of recent years the newbuilding activity of today is also the repair business of the future. a ship plies the world’s oceans for nearly three decades. after the fourth year, a regular repair and maintenance cycle commences which represents a demand for inspection and renovation every ten years for water ballast tanks and every three to five years for underwater surfaces. We evaluate this demand using professional resources, and through our international subsidiary companies we implement the necessary measures in a manner such that we provide rapid, optimal service to customers along shipping and transport routes. through appropriate planning in advance, and speed in the maintenance and coating work, we ensure that negative effects on the regular use of a ship will be minimised to the greatest possible extent. all activities are performed in strict compliance with the internationally-binding guidelines. for this purpose we train our employees throughout the Group to be coating inspectors through Germanischer lloyd, and have them certified. Future significance of the strategically important repair markets in the Middle East and in Asia today, far many more ships are starting their life cycles as newbuildings than are being broken up. the market data have shown this relationship for years. accordingly, the ship repair market has grown very strongly in the last few years. Muehlhan was also able to participate in the general increase in demand in the ship repair market. Currently, there are clear indications that this trend will continue the coming years. Even if there is an intermediate-term weakness in the capacities of our newbuilding customers, business for surfacing services will still be tremendous for decades in the field of maintenance and repair. 17
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other provisions developed as follo
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eakdown by divisions: ManaGeMent di
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ManaGeMent divisions share Group Ma
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Statement of the Auditors´ Report
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ussia Muehlhan Morflot OOO 198035 S
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Contacts and Financial Calendar mue
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Annual Report 2007 - Muehlhan AG

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