PDF, 3.2 MB - Pfleiderer AG
PDF, 3.2 MB - Pfleiderer AG
PDF, 3.2 MB - Pfleiderer AG
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“<strong>Pfleiderer</strong> <strong>AG</strong>’s sound financial basis has given it<br />
more scope to act, enabling it to turn long-term growth<br />
strategies into reality”.<br />
Fiscal 2004 saw <strong>Pfleiderer</strong> <strong>AG</strong> take a big step forward on the road to growth and earnings.<br />
Management and employees alike achieved all their targets for the past fiscal year, and in many<br />
cases even exceeded them.<br />
The successful sale of our Poles & Towers operations in the USA and in Europe, as well as the<br />
disposal of other marginal activities, means we have reached the next milestone – the strategic<br />
focus on core competences. The considerable income gained from these disposals have enabled<br />
us to greatly reduce corporate indebtedness again. The equity ratio for the <strong>Pfleiderer</strong> Group<br />
now stands at over 30 percent. That means that <strong>Pfleiderer</strong> <strong>AG</strong>’s sound financial basis has given<br />
it more scope to act, enabling it to turn long-term growth strategies into reality.<br />
<strong>Pfleiderer</strong> Engineered Wood Improves its Market Position<br />
By acquiring MDF production at the former HORNITEX plant in Nidda, we have closed a strategic<br />
gap in our engineered wood portfolio. Now our brands and marketing companies can offer an<br />
even wider range of products and services to customers. From 2007, the planned new construction<br />
of an MDF/HDF production plant in Poland will further improve our position in this highearning<br />
segment.<br />
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