The good prospects are based on the all-embracing ... - ALNO AG

to ouR shaREhoLdERs | LEttER FRom thE ChiEF ExECutivE oFFiCER
Max Müller
Chief Executive Officer of ALNO AG
" <strong>The</strong> <strong>good</strong> <strong>prospects</strong> <strong>are</strong>
<strong>based</strong> on the all-embracing,
award-winning product portfolio
of the ALNO Group."
Today, however, ALNO AG can look to the future optimistically again. Although 2011 was a dif-
ficult financial year, we did not lose sight of major investments in the future. Despite the cutbacks,
the company continued to invest in its four production facilities. In Pfullendorf, for example, the
company has installed a production line for glass fronts, thus significantly improving ALNO AG's
manufacturing competence.
With enormous technological and organizational effort, we introduced a new product range and the
new 13 centimetre grid size at the Enger plant. New machines were also purchased for the Brilon
and Coswig plants in 2011. All these efforts form the basis underlying ALNO AG's future orientation
as a profitable, value-adding company. Successful implementation of the restructuring agreement
II as per 31 December 2011 marked a major milestone in this direction.
Our focus clearly remains on entrepreneurial stability and sustainable growth so that we can continue
to operate as a traditional company with regional roots and provide jobs for many people in
the future, too. We <strong>are</strong> therefore looking forward to the financial year 2012 with optimism. All the
conditions for a return to higher sales and earnings have been met, both economically and within the
company. Despite the continuing euro and sovereign debt crisis, economists expect most European
markets to develop positively in 2012. <strong>The</strong> United States' recovery will gain in momentum and <strong>good</strong>
growth rates <strong>are</strong> once again predicted for Asia, albeit at lower levels than in the previous year.
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