Mr. Brian Smith
CEO, First Engineering Limited
It is with tremendous enthusiasm that I can announce here the dramatic improvement in the performance of FIrst Engineering Ltd for the year ended March 31st 2010. After facing one of the most dramatic and challenging global economic environments seen in decades, First Engineering has returned to the level of operating and financial sustainability that it has enjoyed during its storied 30 year history. It is with pride, tempered with humility, that I thank each of our constituencies for helping First Engineering maintain its leadership position in the plastic engineering industry. I want to express my appreciation to our employees, suppliers, lenders, shareholders, the communities in which we operate and in particular, our customers for their unprecedented support and cooperation. As a company, we have exceeded our
primary financial targets by over 40% and the operating initiatives undertaken this past year have placed First Engineering in an optimal position to achieve our future goals. Without your commitment to our company's success, we would never have achieved this remarkable transformation.
First Engineering, with the support of our shareholders, has newly dedicated itself to being the most value added supplier in our industry. We are committed to being a company who values and integrity match those of the customers we respect so much. During the upcoming fiscal year, we face new and exciting opportunities and they will be met with the same open communication with all of our supporters, honest and forthright reporting of the operational and financial integrity of the business and a commitment to being a leading provider of socially conscious and sustainable governance in the communities we are a part of.
In the coming months, we will be announcing exciting new strategic initiatives that have been under development during the course of my tenure, as Chairman and Interim Chief Executive. These initiatives will significantly enhance the global operating capabilities of the company and allow us to better serve our ever- growing base of international customers.
Again, let me sincerely thank each of you for your continued support of the company and its dynamic future.