Annual Report 2009 UK - Bonfiglioli

Financial Highlights
Actions and prospects for the future - The Industrial Plan
In response to the recent dramatic and global economic crisis, Bonfiglioli Group initiated a number of
actions to build stronger organisational and structural foundations for the future. These actions were
described in the Industrial Plan that the Board of Directors approved during 2009.
The Board’s intention was to use these tough times as an opportunity to begin a process of rapid in-
ternal rationalisation in order to recover and improve efficiency. The Board was, of course, well aware
that some of these actions would take time to bear fruit.
Various actions were begun in 2009, with the main objectives of improving our managerial skills,
raising levels of responsibility within the company and focusing on the businesses of most importance
to the Group. This latter objective was particularly important given the dimensions and complexity
that the Group has reached in the last five business years.
The key actions of our Three Year Business Plan (for 2009 - 2011) focus on the following strategic
areas:
1. Markets, businesses and products
2. Structure and production processes
3. Organisation and human resources
One of the first projects we put in place was to redefine our organisation’s macro-structure, sim-
plifying it and focusing on the Business Units to which we have assigned our specialist production
plants. In particular, the following two Business Units were set up, for a better customer oriented
service:
• BU “Mobile & Wind” whose core business is represented by products from Bonfiglioli range for
customers of Construction and Wind sectors (BU MWS);
• BU “Industrial & Photovoltaic” dedicated to products from Bonfiglioli range for customers of Indu-
strial sector (light and medium-heavy industry) and Photovoltaic sector (BU IPV).
This re-organisation and streamlining of our organisation has generated immediate benefits, raised
the level of responsibility of our entire management, and increased the efficiency of our internal
decision-making and operational processes.
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Annual Report 2009