Cosalt plc Annual report & financial statements 2008
Cosalt plc Annual report & financial statements 2008
Cosalt plc Annual report & financial statements 2008
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Business review<br />
Our Sectors<br />
Marine<br />
Offshore<br />
Our strategy<br />
Objectives<br />
Development in our product and<br />
service offering in 2009 will come from<br />
a combination of the introduction of new<br />
services in existing locations (such as<br />
fire servicing in Spain), the expansion<br />
of our product offering, and increased<br />
market share.<br />
Continue to examine suitable growth<br />
opportunities in new countries as well<br />
as looking to strengthen our product<br />
portfolio through the acquisition of, or<br />
partnership with, like minded companies.<br />
The Marine Division is also looking to<br />
expand the services it offers to Ship<br />
Owners, Industrial Organisations and<br />
Emergency Services with innovative hire,<br />
lease and managed services offerings,<br />
building upon existing management<br />
skills and infrastructure.<br />
In 2009 we plan to expand our product<br />
and service offering across all sites<br />
and provide both potential and current<br />
clients with a true pan-North Sea partner.<br />
Continue to drive the expansion of<br />
<strong>Cosalt</strong> Compliance which will bring<br />
commonality of processes and systems<br />
across the entire Offshore Division.<br />
Externally, <strong>Cosalt</strong> Compliance will<br />
provide our current and prospective<br />
clients with technical, legislative and<br />
compliance support. This forms a<br />
key strand of the strategy for <strong>Cosalt</strong><br />
Offshore being the partner of choice.<br />
Opportunities<br />
While the Marine market conditions<br />
through 2009 are expected to be<br />
challenging we see an opportunity in<br />
our businesses to expand our market<br />
share through our product and service<br />
offering (such as new developments<br />
in lifejackets). We remain well placed<br />
to service our customers as<br />
business develops.<br />
<strong>Cosalt</strong> Offshore is well placed to<br />
expand our client contracts from<br />
UK and Norway in to pan-North Sea<br />
agreements, also offering potential<br />
clients this extended North Sea<br />
agreement. Further opportunities<br />
exist in exporting additional products<br />
and services across all Offshore<br />
business units and cross-selling<br />
Marine products to our existing clients.<br />
<strong>Cosalt</strong> <strong>plc</strong> <strong>Annual</strong> <strong>report</strong> & <strong>financial</strong> <strong>statements</strong> <strong>2008</strong><br />
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