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A winning business model that<br />

will continue to help us win going forward<br />

Distinctive<br />

business model<br />

Vertical integration<br />

Global reach<br />

Strong brand portfolio<br />

Growth DNA<br />

Ability to combine and manage:<br />

Organic growth<br />

External growth<br />

Enhanced adaptability<br />

and flexibility<br />

Adaptability<br />

During the “boom years” we built capacity; now we are<br />

resizing our structure<br />

Flexibility<br />

Already demonstrated in early 2008 the ability to react<br />

quickly<br />

Already controlling working capital in 4Q08 and 1Q09, as<br />

anticipated<br />

Winning through the cycle<br />

14

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