Hamon, a hundred years engineering for nature (PDF 2Mo)

On the way
to being both
a larger and
stronger group
2003
2007
A recovery with the help of an audacious plan
“With the support of our new finance director, Bernard Van Diest, I decided
that we had to do the right thing, and do it properly. We opted for a series of
measures: concentrate on our core businesses; reduce overheads by 25%; and sell
those businesses that were less profitable. We also decided to sell the dry cooling
business (co-directed at the time by Aart Nobel), and for this we received a good
price. Finally we also chose for a new business model for the American market.
Our strategy consisted of out-sourcing to countries where production costs were
lower. Thanks to these steps, we were able to operate on a sounder basis, starting
first in the USA with Aart as the managing director.” Francis Lambilliotte
“In the United States, the tighter legislation as it relates to the protection of
the environment gave us the perfect opportunity to increase our order book.
Both internally and externally with partners, we intensified our efforts in
research and development so as to provide better solutions for our clients.
This helped enormously in raising our profile, and our commercial success.
This approach also forced us to develop a portfolio of products that were
needed and wanted by the market.” Aart Nobel, CEO, Hamon Corporation USA
“In 2005, it was the Division Research-Cottrell that maintained the financial
health of the group. This seemed fair, and part of the swings and roundabouts
that is business. When Francis bought us, it was us that were going
through difficult times. I believe in fact, that had we not been bought at that
time we might not exist at all now!” Philippe Delvaux
Business is booming
“At Research-Cottrell, we are comfortable with
the way we are currently ahead of our previsions.
We’re also intensifying contacts with our key
targets: the electric power plants, the petrochemical
and steel sectors, the cement companies
and the glass industry, as well as the market for
waste incineration. In fact, we’ve just signed an
agreement in Bulgaria. And while we’re talking
about good things, I’ve just received the results
of a new satisfaction survey. We are to sum it up
briefly, perceived as a company with high added
value, working with experts of the highest caliber,
and we are very customer focused.” Philippe Delvaux
“Our success is also due to the fact that we have
been concentrating on 2 high potential sectors:
the electricity producers that represent 50% of
our business, and the oil producers, who make
up another 30%. The demand in both sectors is
growing. In the developed countries, the old power
plants are being replaced with newer and cleaner
installations, while in the emerging markets, we
are building new plants.” Francis Lambilliotte
“From that year on, the situation improved considerably. Helped by the
Walloon region, we increased the capital of the business. This brought fresh
funds to the company, and an injection of cash that allowed us to keep the
business growing. We continued with this financial approach, and in
November 2006, we made a second call for capital. This brought an extra
20 million Euro. During that same year, our share price increased by 352%,
which put us at the top of the Euronext ranking, and Hamon had a profit of
some 13 million Euro. We had succeeded our return to form.” Francis Lambilliotte
13