E_mg_GB_03_vorne-29_3_04

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146 26) Segment Reporting SFAS 131 (‘Disclosures about Segments of an Enterprise and Related Information’) states that segment reporting must be consistent with the company’s internal organizational and reporting structures (‘management approach’). mg’s Executive Board is responsible for assessing the segments’ performance and the related allocation of resources. In 2003, the Executive Board of mg technologies ag decided that mg should discontinue its chemical activities and concentrate solely on engineering. It is not yet clear to what extent the disposal of the one division will impact on the internal organizational and reporting structures of the remaining one. For this reason, and because the chemical division still formed part of the Group’s activities during the year under review, the format of our segment reporting remains unchanged. In order to highlight the impact of the disposal of the chemical division, however, the segment reporting distinguishes between ‘continued’ and ‘discontinued’ operations. Continued Operations GEA GEA is engaged worldwide in process engineering and thermal technology. It supplies technologically sophisticated, mostly customized equipment, components, systems and process plants that improve the efficiency and environmental compatibility of production processes as well as the quality of products in many industrial sectors. GEA focuses on the food, beverage, pharmaceutical and petrochemical industries, but is also active in power plant technology, engineering, and the construction industry. It operates globally and generates over 80 percent of its business outside Germany. Lurgi Lurgi is a global leader in process engineering and plant engineering. The companies in this segment design and build technologically sophisticated plant for the gas, oil, pharmaceutical and chemical industries. Their particular strengths lie in their leading technology position in the fields of synthesis gas and methanol plant, in the processes they use to convert gas into petrochemical products, and in the construction of industrial plant that processes renewable resources for the production of oils, fats, starch and alcohol, principally for the production of environmentally friendly bio-fuels. In the future, this segment will concentrate on these businesses. Its refinery technology, fine chemicals, and pharmaceutical businesses are to be discontinued. Lurgi Lentjes This segment combines the environmental and energy activities of the Energy, Environmental Engineering and Gas Cleaning units. Lurgi Lentjes focuses on processes and technologies that facilitate the industrial use of energy forms extracted from various fuels, while at the same time keeping the air clean. Since its portfolio was optimized, it has specialized in the construction of plant that cleans waste gases and contaminated air for process industries such as the nonferrous, steel, chemical, and glass industries, and in supplying desulfurization systems for fossil-fuel power stations. The segment’s denitrification and dedusting technologies for waste incineration and power plant technology are to be discontinued.
MANAGEMENT SHARE STRATEGY SPECIAL SECTION MANAGEMENT REPORT FINANCIAL STATEMENTS FURTHER INFORMATION Consolidated Balance Sheets • Statements of Income • Statements of Cash Flows • Statements of Changes in shareholders’ Equity • Fixed Assets Schedule • Notes • Independent Auditors’ Report Zimmer This segment provides process-driven plant engineering for polymers, synthetic fibers and thermoplastics, covering the entire life cycle of these products – from production and processing to the recycling stage. Zimmer specializes in the construction of plant that manufactures polyester and nylon as well as textile filaments, staple fibers, industrial yarn, and packing materials. By acquiring Fleissner towards the end of 2003, Zimmer secured its market position in staple fibers and extended its product range in the fast-growing nonwoven market. As a global market leader, the segment possesses a large number of proprietary processes and is a leader, for example, in plant engineering for PET production. Zimmer’s product range also includes industrial plant that manufactures cellulosic fibers (lyocell fibers). Dynamit Nobel In 2003, the Executive Board took the decision to focus the company’s activities on specialty mechanical engineering and plant engineering. As a result of this decision, the process of selling Dynamit Nobel was initiated. As explained under Note G) ‘Discontinued operations’, Dynamit Nobel still qualifies as a continued operation. Dynamit Nobel specializes in technologically sophisticated niche markets in the fields of chemicals and materials processing and, by developing its specialist expertise, has positioned itself as a valueadding partner to its customers, most of which come from the automotive, pharmaceutical, construction, chemical and electronics industries. It therefore operates in the growing custom-synthesis market, supplying intermediates and active ingredients to the pharmaceutical and agrochemical industries. As a systems engineering partner to the automotive industry, Dynamit Nobel supplies plastics for internal and external applications, surface chemicals for corrosion protection and cutting tools made of advanced ceramics. This material is also used in medical technology, electronics, electrical engineering and high-quality sanitary appliances. Dynamit Nobel is the global market leader in lithium chemistry and in pigments for the delustering of synthetic fibers. Other This segment contains all the companies that do not belong to the core businesses of the other segments and are under the direct control of mg technologies ag. It contains mg technologies ag, Ruhr-Zink GmbH, MG Rohstoffhandel GmbH, and the U.S.-based companies mg technologies Inc. (formerly Metallgesellschaft Corp.) and MG North America Holdings Inc. Discontinued operations solvadis solvadis – including Safic-Alcan – is a globally active chemicals trader as well as a chemicals distributor. It trades in and distributes various chemical feedstocks, chemicals, specialties and natural raw materials. solvadis is increasingly offering chemical and pharmaceutical companies customized logistics solutions for their procurement and distribution. Other Operations reported under ‘Other’ comprise the Boiler Plant business unit and the discontinued non-core operations of Dynamit Nobel and GEA. 147
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