ANNUAL REPORT
ANNUAL REPORT
ANNUAL REPORT
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watches and Jewelry dIvIsIon<br />
contInued ImProvements to<br />
better serve customers and<br />
bolster sales<br />
Continued improvements, to better<br />
serve its customers, remained the focus<br />
of the Watches and Jewelry Division in<br />
2006. The quality assurance programs<br />
introduced during the year have<br />
allowed production to react speedily<br />
to constantly tightening customer<br />
quality specifications. The acquisition<br />
of cutting edge software to assist in<br />
new product development considerably<br />
reduced time to market.<br />
Sales in 2006 benefited from a positive<br />
trend in the watch industry, as demand<br />
increased for ever larger and heavier<br />
watch cases in precious metals. The<br />
expansion of the division into new<br />
luxury segments other than watches<br />
proved to be a success. As a result,<br />
investments into machine capabilities<br />
were implemented to sustain this<br />
growth area.<br />
electrotechnIcs dIvIsIon<br />
contInuous ImProvement In<br />
2006<br />
The Electrotechnics Division<br />
experienced two significant<br />
accomplishments in 2006: increase in<br />
Chinese operations and double digit<br />
growth in Europe.<br />
In China, we are now able to offer<br />
our full product range with a fast<br />
increasing Chinese content. Also, we<br />
are evaluating the opportunities to<br />
go down further into the value chain.<br />
Furthermore, the building of a second<br />
plant is being studied to accelerate our<br />
developments.<br />
In Europe, our sustained profitable<br />
growth is a great reward for all the ET<br />
employees who are making every effort<br />
to reach customer service excellence<br />
day after day. As an example our<br />
Redwitz site in Germany has been<br />
recognized as “preferred supplier of<br />
the year” by Siemens Regensburg in<br />
2006.<br />
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