No power train without Miba technology

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Outlook
New opportunities for Miba
After the decline in orders in the past business year, the low point is behind us. Industrial
activity is stabilizing. How long this trend will last, however, remains uncertain. In the past
business year, the entire Miba Group had to adjust rapidly to changed market conditions –
a challenge we readily met. The 2010-2011 business year had a strong start for Miba.
In some segments we are now close to pre-recession levels, but customer call-offs
continue to fluctuate wildly, and the planning horizon remains very limited. We see strong
growth potential in markets such as China, India and Brazil.
Customer order call-offs at short notice have increased the complexity of planning and
demand great flexibility from the company. Miba is meeting these challenges, and is well
equipped to deal with them. Competitive cost structures, a solid liquidity base and highly
skilled employees are the key to emerging from this recession in stronger shape. Our
strategic investments in the development and expansion of sites in China and the USA,
the takeover of the british coatings specialist Teer Coatings, and a new major project for
Miba Steeltec in Vráble, Slovakia, are all strengthening our market position as a technology
leader.