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28 News Sri Lanka continued... Twice the Freeze Gihan Jayasinghe External view of the existing facility Our Cold Storage operation at Welisara has expanded with the addition of a further 4,500 pallet spaces, thus consolidating its position as the largest and most sophisticated cold store in Sri Lanka. The second phase, inaugurated in November this year, will provide an additional 30,000 cubic meters (1 million cubic feet) of refrigerated storage space and will not only permit greater efficiency in operation but also greater flexibility in the type of products stored and services offered. US Finlay Industries Update Darrell Armbruster Through August, the year 2006 resulted in new record sales revenue for Finlay Industries. YTD revenues are ahead of 2005 by $1.8 million. This continued growth in revenue is largely attributable to the sustained growth of new inbound inventory from our existing manufacturing customers. Based on YTD figures, Finlay Industries is likely to receive over 7 million pounds of new inventory by year-end. This exceeds prior year record levels by over 500,000 pounds. In order to accommodate this increase of inbound inventory we have had to re-think our retention levels of older, slower moving inventory. Rather than continue to build new warehouses to accommodate the receiving of fresh inventory, we have been working with the OEM’s and our operations department to develop more aggressive purge algorithms, which sooner identify "dead" inventory in our warehouses. Once this "dead" inventory has been identified, we pluck it out of our facilities, freeing up space for new inventory. The Company’s focus is on the premium end of the cold storage market, offering a broad spectrum of value-added services, such as order picking, loading/ dispatching according to customer requirements, inventory management using a state-of-the-art online warehouse management system and more, whilst servicing a number of industries including Dairy, Poultry, Agriculture and Processed Meats, to name but a few. Says Group Chairman, Kumar Jayasuriya: “This build was a natural progression for us. We listened to our customers’ needs and growth plans and were confident that we could offer a premium product, exceeding their expectations; this explains our expansion plans within a year of starting commercial operations”. Work is progressing on a new freezer room. We have coined the term "mining" for the process, which efficiently removes the dead inventory without disrupting the majority of the warehouse. We can actually purge inventory out of a facility and, at the same time, keep approximately 85-90% of the facility’s inventory available for sale. In addition to freeing up substantial space, the purging process results in the older warehouses becoming a great deal more productive in revenue generation. Through the first eight months of 2006, the purging department was able to remove approximately 10,000 pallets of dead inventory, freeing this space for new, inbound inventory. For this year, at our current rate of purging, we should be able to absorb approximately 90% of our entire incoming inventory into existing older facilities, without expanding into our newest facility building #23. With the automotive industry exceeding over 59% of our business, we have made the initiative to spread our business risks over multiple industries. As a result of this plan the sales department has recently signed our newest customer, Bucyrus International. Bucyrus is based in North America and is the world’s largest manufacturer of mining drag lines and electric shovels. The company was started in 1880; they supplied 77 of the 102 steam shovels used to dig the Panama Canal in 1904. The company currently has approximately 70,000 machines operating in various parts of the world. Although the program will start slowly, we expect Bucyrus to contribute revenues of approximately $250,00 by the end of year one. Other prospective customers include Kohler (commercial plumbing), Ditch Witch (cable trenching) and Astec Underground (trenching). Safety continues to be paramount at Finlay Industries. In addition to our monthly safety meetings, ergonomic audits, daily stretching exercises, and annual employee health risk assessments, I am pleased to announce we have reached a new plateau regarding employees’ zero lost time days at work. At the end of September 2006 we reached 1,385 safe workdays without lost work time. This equates to approximately five calendar years. In the US this type of safety record is very rare (less than one tenth of one percent of companies ever achieve it). If all goes well, by February 2007 we hope to celebrate 1,500 continuous safe workdays at Finlay Industries. We are very proud of this accomplishment and I personally thank all our employees for keeping safety first and foremost in both their work and personal lives.
US continued... Finlay Industries News Appointment James A. Butterbrodt has been promoted to Vice President of Finance and Chief Financial Officer, effective 1 July 2006. In addition to being responsible for all treasury and accounting related activities, Jim will oversee the Human Resource functions.. Jim has recently completed his MBA course work and graduated with distinction from Keller Graduate School in Milwaukee. In addition he has earned a B.A. degree from Upper Iowa University and a CMA certificate from the Institute of Management Accounts. Jim has been with the company 11 years and lives in Beaver Dam with his wife Jayne and three children. Pakistan Update Irfan Vazeer The year to date has seen a further improvement in earnings from all the main divisions of Finlays Pakistan. The results from the P&I Division, while slightly down on budget, are of course dependent on the demand from our Principals. Nevertheless, through sustained marketing efforts and superior performance, we have proven in the past that revenue can be improved through an insistence on high levels of customer Pakistan News Karachi Visitors Among the visitors welcomed to Pakistan this year have been: Graham Sanders, of Swire Cold Storage; Kobayashi Yasutada, Director of NYK Line, India; Steve Shin Masuda, General Manager of NYK Line, Asia; Masumi Sahashi, Deputy General Manager of TSK Lines; Anthony L. Cruz, Director/General Manager of NYK-FilJapan Shipping E- Services Corporation (TSK Line Manila Asia Marketing Center); and Leandro J. Ramos, Assistant Team Leader of the same company. Long Services Awards On 26 September, Finlay Industries, Inc. held its Length of Service Awards banquet at Old Hickory Country Club. Honorees this year are (front row, l-r): Deborah Neuman, Beverly Kotulski (20 years), Ellen Wallendal and Donna Vick; (middle row, l-r): Linda Carter, Bonnie Steindorf, Debra Sires and Mary Karst; (back row, l-r): Arland Kluewer (30 years), Michael Matuszeske, Jeffrey Gilhart and Michael Stange (25 years). service. As a result we are confident that the Division will close the year with an improved performance during the last quarter. The Survey and Tally Division goes from strength to strength and is beginning to become a significant contributor to Branch revenues During the year we have had some success in increasing the income stream from tenants renting space in Finlay House in Karachi. The Shipping Division which is responsible for generating the bulk of the Branch’s profits has had a good year with continued growth arising from a particular focus on NYK/JF Golf Tournament A golf tournament, sponsored by chief hosts NYK Line with James Finlay Limited, was held by the Karachi Japanese Association on 27 April at the Arabian Sea Country Club. Among the guests were staff of the Japanese Consulate and the Japanese School, More than 10 major Japanese trading houses were represented by Arae San of Indus Motors The event was much appreciated among the influential Japanese community which enjoys an excellent relationship with its counterparts in Karachi’s business circles. inbound movements from Japan and from Far and South East Asia. Outbound business to North America continues to be important with both volumes and revenues experiencing healthy growth. A new, direct, larger capacity service has been introduced between Japan and Karachi which will further increase volumes resulting in a corresponding improvement in revenues. We foresee the current trends continuing for the remainder of the year and are confident of again achieving a record pre-tax profit for the Branch. Operations Manager Salim Khan presents the trophy to K. Ayukawa, CEO of Suzuki Motor Company, Pakistan. 29
Page 1: Autumn/Winter ’06 Volume 42/No.2
Page 4 and 5: 4 View from the MD’s Desk Rupert
Page 6 and 7: 6 Rethinking the Brand Simon Large
Page 8 and 9: 8 Pullout to go in here lorem ipsum
Page 10 and 11: 10 Project Lily Nev Harries In 1996
Page 12 and 13: 12 Designing an open plan office to
Page 14 and 15: Clockwise: Colombian farmer, Orland
Page 16 and 17: 16 ‘A Special Place in the Heart
Page 18 and 19: 18 Pensioners’ Reunion The lunch
Page 20 and 21: 20 News Tea Estates continued... Ke
Page 22 and 23: 22 News Tea Estates continued... Sr
Page 24 and 25: 24 News Beverages continued... UK N
Page 26 and 27: 26 News Flowers Update Tim Blackbur
Page 30 and 31: 30 Announcements Births Adil On May

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