We make our customers successful. - Oerlikon Barmag

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improves productivity by permitting asynchronous operation of the individual heads. This will enable Melco to rise clearly above its competition. Melco’s expansion into Asian markets, intended to compensate for continuing weakness in the American market, was delayed and the first sales in this area were made at the end of 2003. The result was another bad year for Melco. A new spinning process for wool yarns was developed and presented to the market in the last quarter. Compared with traditional ringspinning it offers a productivity increase of 30 times per spindle. The first of these installations is already up and running with a customer in Italy. Marketing transformed. Saurer has made big steps on its way from being a textile machine manufacturer to a provider of complete solutions. For many specific applications, sometimes working with external partners, complete solutions have been developed and documented to a marketable standard. “Turnkey” is the word. We plan the factory for our customer, organize the financing, build the factory and start the production, leaving him free to concentrate on his customers and his future business. We have also searched for new ways to develop links with potential customers, looking beyond the traditional trade fairs and advertisements in professional journals. Focussed informational meetings, specific events for customers in our laboratories and at their premises, professionally competent advice in the fullest sense – these are our new ways of linking to clients. With our integrated service centres in the key markets we can offer service around the clock and around the world. We now need new approaches in the markets for spare parts, after-sales service and modernization; customer attitudes and competition with local pirates are quite different in the new Asian markets from what we are used to in the traditional markets of Europe and America. Our internet-based customer support systems are continually being refined and represent a very high standard for the industry today. 18 Consolidation of Transmission Technology. In this period of reduced market activity, Graziano was able to concentrate on the planned consolidation of its transmission systems activities. Here the main goal was to realign Graziano’s various production plants in respect of products and technologies, aiming for full integration of recent acquisitions and introduction of new products which will generate sustained growth in future years. A good number of customer projects were progressed into product development. In 2003, Graziano established itself in the market as a supplier of complete transmission systems, notably with an order from Alfa Romeo for an AWD version of the 156 model, which will be developed in collaboration with Prodrive. A high performance twin-clutch gearbox, intended for the attractive sports car market, was completed in prototype. A new manual gearbox and differential were developed and tested for the new Aston Martin DB9, which will enter production in the second half of 2004. The new Maserati Quattroporte and the Ferrari Scaglietti will be fitted in 2004 with the new AMT (Automatic Manual Transmission) gearbox developed by Graziano. In the minibus sector the Front PTO (Power Take Off) for the new VW Transporter was
Saurer generates 70% of its textile sales in Asia. 1995: 30% 2002: 17% 2003: 15% 1995: 35% 2002: 20% 2003: 15% 2003: 70% 2002: 63% 1995: 35% 19
Page 1 and 2: LIVING SAURER. THE ANNUAL REPORT 20
Page 3 and 4: The business year 2003. 9 Financial
Page 5 and 6: THE BUSINESS YEAR 2003. 9
Page 7 and 8: Asian markets in particular, led by
Page 9 and 10: tion, teams made up of members from
Page 11: concentrated mainly on Turkey. To a
Page 15 and 16: Outlook. This year it is especially
Page 17 and 18: A company is more than its balance
Page 19 and 20: The internationality and the perfor
Page 21 and 22: Our economic strength provides us w
Page 23 and 24: FINANCIAL REPORT 2003.
Page 25 and 26: Management’s discussion of result
Page 34 and 35: Consolidated income statement for t
Page 36 and 37: Consolidated cash flow statement fo
Page 38 and 39: Organization and business activity
Page 40 and 41: Provisions are set up for current l
Page 42 and 43: By division (continued) Notes to th
Page 44 and 45: Notes to the consolidated financial
Page 54 and 55: 21 Related parties Notes to the con
Page 56 and 57: Share % share Consol- Company Locat
Page 58 and 59: MULTIPLE YEAR COMPARISON.
Page 60 and 61: Balance sheet (EUR 000) 31.12.03 31
Page 62 and 63:
Multiple year comparison Balance sh
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Saurer Ltd. - Income statement for
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Notes (CHF) Saurer Ltd. - Notes to
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Report of the statutory auditors to
Page 70 and 71:
88 Saurer Textile Solutions H. Fisc
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egarding the number of shares eligi
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Group, Tiengen (1975 to 1980). Chie
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3.3 Cross-involvement. There is no
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The CEO as Delegated Member regular
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4.2 Education, professional backgro
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Saurer does not issue stock to empl
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5) Options held as of December 31,
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6.5 Registrations in the share regi
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ADDRESSES WORLDWIDE.
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Addresses worldwide. Company Addres
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SHARE STATISTICS.
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Imprint. Publisher: Saurer Ltd. Con
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