PDF, 3.2 MB - Pfleiderer AG
PDF, 3.2 MB - Pfleiderer AG PDF, 3.2 MB - Pfleiderer AG
In September 2004, Pfleiderer approved an investment project to optimize processing logistics in HPL production at its engineered wood site in Arnsberg, Germany. The optimized production planning and control system should result in considerably shorter delivery times and a significant reduction in inventories. This will do more than just strengthen the competitive position and market share of Pfleiderer Engineered Wood as a partner for the furniture industry and specialist trade by speeding up deliveries. By helping to tighten up product ranges, it will also improve the site’s cost situation in what it is a difficult domestic market. This must also be seen in the light of a general reduction in production capacity taking place in this market. In October 2004, Pfleiderer announced that it would start construction work on a new plant to produce MDF and HDF board. With this project, Pfleiderer Engineered Wood is expanding its ranges to include MDF and HDF board for the furniture and flooring industry, a move that takes into account increasing demand for MDF by furniture manufacturers. Infrastructure Technology Investment activity by the Business Center Infrastructure Technology focused in fiscal 2004 on expanding and modernizing existing plants. Production capacity was expanded at Buzău in Romania and Lábatlan in Hungary in order to cover for new orders taken. This follows an order taken from Turkey for more than 680,000 sleepers as part of its modernization plan to improve the track between Ankara and Istanbul. These sleepers will be produced and supplied by both the above mentioned plants effectively booking up their total production capacity for the next 15 months. The existing turnout production plant at Kirchmöser, Brandenburg and the sleeper plant at Coswig have both been modernized. Environmental Protection The Group’s environmental protection strategy for fiscal 2004 was based on modernizing its production plants to ensure that they are state-of-the-art and comply with the requirements of the German Clean Air Regulation TA Luft 2002. Approval procedures and authorizations for technical changes by local authorities were carried out at nearly all sites. This has resulted in new or lower thresholds being set, as well as the need to introduce a comprehensive emissions monitoring system. An approval procedure was introduced at the Leutkirch site with the objective of reducing noise levels in the neighborhood. In order to improve air quality in the immediate environment, management also decided that dust-emitting goods (e.g. sawdust) would no longer be stored in the open air. These items are now stored in silos. During the same reporting period, the wet electro-filter used to purify exhaust air from the chip dryer at this site was completely overhauled at a cost of around 1.1 million euros, achieving a further reduction in emission levels. 44
Further optimization of the energy supply plant at Neumarkt has led to a marked decrease in CO emissions, while an additional emission threshold level for organic material has been introduced for its chip dryers, combined with a new continuous monitoring system. The impregnation units at Plant I in Gütersloh, which no longer complied to the Clean Air Regulation TA Luft 2002, were decommissioned. After production has moved to Plant III as planned, exhaust air will be treated using a catalytic purification unit. Sound insulation costing up to 1 million euros is to be introduced over the next few years in order to improve noise emission levels near the particleboard plant. As nearly all Pfleiderer Engineered Wood’s energy production plants run on biomass, they are in an excellent position to take part in emissions trading and will not need to purchase emission certificates. Organization The organizational structure of the Pfleiderer Group simplified in fiscal 2004 following the disposal of various business centers. Sale of the Business Center Poles & Towers with its operations in the USA and Europe, together with the sale of the water systems development business unit, has simplified the Group’s corporate structure. However, the Group’s basic structure, that of two main operating segments and a holding company, remains unchanged. Disposing of business centers has resulted in changes to the Group’s legal structure. Following its acquisition, the Nidda plant has since joined the other consolidated companies. The full list of companies consolidated within the Group is given below. 45 Business Segment Engineered Wood Business Unit West Business Unit East Pfleiderer AG Business Segment Infrastructure Technology Pfleiderer track systems Overhead functions MANAGEMENT REPORT ENVIRONMENTAL PROTECTION/ORGANIZATION Pfleiderer Service GmbH
- Page 1 and 2: Annual Report 2004 Core Businesses
- Page 3 and 4: Group Figures Jan. 1 - Jan. 1 - Cha
- Page 5 and 6: Pfleiderer AG is focusing on its tw
- Page 7 and 8: 3 35 Pfleiderer Engineered Wood fur
- Page 9 and 10: In closing down the Rheda-Wiedenbr
- Page 11 and 12: Dr Jürgen Koch Member of the Board
- Page 13 and 14: Committees Formed by the Supervisor
- Page 15 and 16: CORPORATE GOVERNANCE 1. Introductio
- Page 17 and 18: 4. Supervisory Board The Board of M
- Page 19 and 20: Declaration of Compliance 2004 Unde
- Page 21: Stock Option Program 2004 (Continua
- Page 24 and 25: PFLEIDERER GROUP AND PFLEIDERER AG
- Page 26 and 27: Company Report Corporate portfolio
- Page 28 and 29: In fiscal 2004, the Pfleiderer Grou
- Page 30 and 31: Net indebtedness of the Pfleiderer
- Page 33 and 34: GERMANY GDP in Germany increased by
- Page 35 and 36: y expanding foreign and export rati
- Page 37 and 38: Production Pfleiderer Engineered Wo
- Page 39 and 40: Aside from its leading market prese
- Page 41 and 42: Due to its very low construction he
- Page 43: Procurement In order to take advant
- Page 46 and 47: Research & Development New “Multi
- Page 50 and 51: Personnel As of December 31, 2004,
- Page 52 and 53: Pfleiderer Corporate Guidelines for
- Page 54 and 55: Economic and Political Risks and In
- Page 56 and 57: No liquidity risk exists at present
- Page 58 and 59: wodego® is the latest brand in Pfl
- Page 60 and 61: Key Figures 2004 2003 No. of shares
- Page 62 and 63: Investor Relations Activities Indiv
- Page 64 and 65: While the prices paid for paraffin
- Page 67 and 68: TURKEY The Turkish economy reported
- Page 69 and 70: Liabilities and Shareholders’ Equ
- Page 71 and 72: Pfleiderer Consolidated Statement o
- Page 73 and 74: Comprehensive income 69 Other compr
- Page 75 and 76: Infrastructure Technology Consolida
- Page 77 and 78: Scope of Consolidation The consolid
- Page 79 and 80: The activities of the Poles & Tower
- Page 81 and 82: Sales of receivables are treated wi
- Page 83 and 84: Property, Plant and Equipment Prope
- Page 85 and 86: Accruals for Pensions and Similar O
- Page 87 and 88: 1. Liquid funds 2. Securities class
- Page 89 and 90: 7. Intangible assets As in the prev
- Page 91 and 92: 11. Financial liabilities 12. Other
- Page 93 and 94: 16. Long-term deferred income 17. D
- Page 95 and 96: 18. Stockholders’ equity The foll
- Page 97 and 98: Stock Appreciation Rights 2000 Unde
Further optimization of the energy supply plant at Neumarkt has led to a marked decrease in<br />
CO emissions, while an additional emission threshold level for organic material has been introduced<br />
for its chip dryers, combined with a new continuous monitoring system.<br />
The impregnation units at Plant I in Gütersloh, which no longer complied to the Clean Air Regulation<br />
TA Luft 2002, were decommissioned. After production has moved to Plant III as planned,<br />
exhaust air will be treated using a catalytic purification unit. Sound insulation costing up to 1 million<br />
euros is to be introduced over the next few years in order to improve noise emission levels<br />
near the particleboard plant.<br />
As nearly all <strong>Pfleiderer</strong> Engineered Wood’s energy production plants run on biomass, they are in<br />
an excellent position to take part in emissions trading and will not need to purchase emission<br />
certificates.<br />
Organization<br />
The organizational structure of the <strong>Pfleiderer</strong> Group simplified in fiscal 2004 following the disposal<br />
of various business centers. Sale of the Business Center Poles & Towers with its operations<br />
in the USA and Europe, together with the sale of the water systems development business unit,<br />
has simplified the Group’s corporate structure. However, the Group’s basic structure, that of two<br />
main operating segments and a holding company, remains unchanged. Disposing of business<br />
centers has resulted in changes to the Group’s legal structure. Following its acquisition, the Nidda<br />
plant has since joined the other consolidated companies. The full list of companies consolidated<br />
within the Group is given below.<br />
45<br />
Business Segment<br />
Engineered Wood<br />
Business Unit West<br />
Business Unit East<br />
<strong>Pfleiderer</strong> <strong>AG</strong><br />
Business Segment<br />
Infrastructure Technology<br />
<strong>Pfleiderer</strong><br />
track systems<br />
Overhead functions<br />
MAN<strong>AG</strong>EMENT REPORT ENVIRONMENTAL PROTECTION/ORGANIZATION<br />
<strong>Pfleiderer</strong><br />
Service GmbH