Annual Report 2007 - Muehlhan AG

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18 oil & gas oFFshore New growth in the offshore field by the 1970’s, the Muehlhan Group had already transferred its experience from surface protection for ships to oil drilling and production platforms for the first time. in the meantime, we have become active in the field not only in the Gulf of Mexico and in asia, but also in the northern North Sea, the region with the most challenging environmental conditions in the entire oil & Gas offshore business. the customers for whom we work are among the most demanding in this market. formidable safety regulations and quality specifications allow only a few providers of services in the field of surface protection on platforms. Muehlhan is one of them. We are developing the offshore business division with our Group’s proven strengths: our know-how and the high level of training for our employees fulfill the requirements of our customers for productivity, safety, quality and environmental protection to the highest degree. at the same time, we are fitting into the smooth production operation without problems, and are making their unimpeded progress possible. Sales increase with the potential for the future if the sales trend develops positively, the oil & Gas division will also become a stable and lucrative pillar of our business activities. the rising world demand for energy – driven in no small part by strongly growing players like in- dia or China – requires increased investments by the oil companies in their production facilities. this increases the demand for high-quality surface protection services that will be required in the future, and in the global context: a service provider that operates around the world in a reliable manner, with identical services of quality that are always consistent. Muehlhan is currently reviewing the ways in which the Group’s global corporate network can be expanded for a high quality service offering in the oil & Gas offshore field that is comparable throughout the Group. at the same time, existing customer relationships, including those in the North Sea, are to be continuously expanded in the next few years. the specific target for 2008 is to double the number of man-hours, and to lead the business division into profitability. industry services Strong sales growth in industrial market segments With its specialty solutions, our industry division meets customer requirements that are quite varied and often very individualised. the services are performed in association with the marine division, but also away from the water. as such, we have since come to be among the top providers of coatings for wind turbine tower parts, provide for optimum surface protection for chemical and petrochemical and tank and production equipment, and coat steel specialty
ManaGeMent divisions share Group ManaGeMent report Group Consolidated FinanCial stateMents structures such as bridges, cranes and large machinery. our Group’s own scaffolding ensures the fastest possible access technology both in the construction of facades and stands, and at shipyards. a high degree of flexibility and the ability to offer customers tailored solutions ensures Muehlhan an excellent position in this diversified market segment. Increasing importance due to growing submarkets Muehlhan also seeks to profit primarily from the developments in the field of wind energy in the future. the wind energy market accommodates well the climate and energy policies of governments of leading industrial nations, which are currently shifting seriously. accordingly, we expect significant growth rates and increasing market share for our danish subsidiary, which is opera ting from Scandinavia as a partner of international size for the wind energy industry. the industry business is also at the threshold of profitability at other locations as well: our subsidiary company in Qatar reached break-even for the first time with contracts for petrochemical facilities at the world’s largest industrial construction site in ras laffan. likewise in the Middle East region, our company will also have sales from our newcomers procon Emirates llC for the first time in 2008 in a sub-segment of surface protection, the application of fire-protective coating systems. finally, Muehlhan Scaffolding provided a notable contribution to the industry division – in no small part as a result of stronger demand from our marine customers for encasement and access technology. 19
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eakdown by divisions: ManaGeMent di
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ManaGeMent divisions share Group Ma
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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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