Annual Report 2008 English [PDF, 2.69 MB] - Tessenderlo Group

annual report 2008
The good news is that a number of other
active ingredients have been in the
development pipeline since 2007 and
2008. These products will not be able
to compensate for the decline in 2009.
However, they do offer good prospects
from 2010
and the British pound during the first
half of the year. This resulted in lower
competitiveness and margins. Raw
material prices were also unpredictable.
In a market with ample supply, these
price increases could not be passed on
completely to customers.
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Products in the
development portfolio
can compensate for
patent loss as of 2010
In the meantime, Tessenderlo Group will
continue to promote itself as a company
that is not only strong in the field of
research and development, but can also
offer its customers pilot capacity. As such,
the company can guarantee quality as well
supply commitments.
2. Organic chlorine derivatives
Trends and facts in 2008
While 2007 saw a revival of the ‘organic
chlorine derivatives’ activity, this positive
trend could not be benefitted from
sufficiently in 2008.
Same as the intermediates for the
pharmaceutical industry, organic chlorine
derivatives also suffered from the volatile
exchange rates of the American dollar
Volatile exchange rates
and raw material
prices had an adverse
effect on competitiveness
and margins
The situation improved initially in the
second half of the year. Sales prices and
margins rose. However, demand for all
products dropped drastically in December.
With regard to investments in 2008, the
site in Pieve (Italy) decided that one of the
two hydroelectric power stations will be
renovated. Besides a slight increase of the
power capacity, the major advantage is
the fact that the company will obtain green
energy certificates for this investment.
Works are scheduled to begin in 2009
and will be carried out during the winter
months for three years, in order to reduce
interruptions in manufacturing to a
minimum.
Contrary to earlier announcements
made as part of the industrial plan for