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Electronics Production | May 11, 2010

A strengthened GPV looks ahead

Today—one year after GPV’s reconstruction—the enterprise stands considerably strengthened after a successful year of consolidation and a series of investments in customer base and production equipment.
Since in spring 2009, the GPV Group went through a successful reconstruction with focus on the core business areas of electronics and mechanics production, GPV now has four main plants left.

Bo Lybæk, president and CEO of the GPV Group says: “As most others, we have seen a decrease in sales as a consequence of the general crisis. However, it is very satisfactory that we ended the first fiscal year following the reconstruction with sales amounting to around DKK 700 million and positive operating income (EBIT) above budget”.
GPV’s fiscal year ended on March 31, 2010, and the financial statements are expected published in mid-June.

Investments
A range of new projects from existing and new customers, both within Mechanics and Electronics, have resulted in new contracts, and several projects are in the melting pot.

To comply with these new contracts GPV has implemented investments in production equipment in the Company’s plants. A large part of these investments have been made at GPV’s electronics and mechanics plants in Bangkok, where good growth is seen.

”We have customers that want us to develop together with them. The new investments enable us to strengthen our competitiveness, and at the same time this is favorable time for investing as the price level of equipment is attractive at the moment. The new investments are, however, not higher than what our business justifies, just as only the best projects can be considered”, Bo Lybæk says.

GPV’s customers make high demands for quality, test security and traceability and therefore investments in new quality and test equipment have been made in several of GPV’s enterprises, just as we have worked with new quality certification in both Denmark and Thailand.

The investments have been implemented mainly within Electronics to ensure continued increase in efficiency and flexibility in production and a uniform process quality in all lines of production.

Outlook
Expectations to the future fiscal 2010-2011 that starts on April 1, 2010, will correspond to the performance of the fiscal year just ended with annual sales of around DKK 700 million.

Bo Lybæk does not expect any need for large investments in the coming fiscal 2010/2011.

”We will continue working with the optimization and improvement of our production equipment, but the investments made during the past year have provided the necessary capability demanded by the market at present. Of course, we pay close attention to needs that may arise as we win new projects or in connection with a general change in economic trends”, Bo Lybæk concludes.

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