Presidents Letter for 2009
Dear Valued Customer,
Despite the numerous challenges faced by almost all companies in the global recession of 2009, I am pleased to announce to you that we were able to respond to the challenges and ended the year on a positive note. Undoubtedly, 2009 was a hard-hitting year for the entire manufacturing sector across the nation and globally. As the result of those marketplace downtrends, our focus shifted to rebuilding and restoring our corporation’s assets and image to ultimately penetrate in other market segments. Today, I am happy to report that all aspects of the company are trending favorably due to the hard work performed from our Marketing and Engineering teams.
Crystex Composites LLC, has established constructive working relationships with other international partners in the European Union, South Korea and Japan. These new ventures will offer employment opportunities and additional partnerships for the very near future. Opportunities with these international partners will bring additional revenue for Crystex in 2010 and beyond.
With 2009 behind us, I thought it might be important to spend a few moments reflecting on the accomplishments of the past year and the challenges that still lie ahead.
2009 Highlights
The past year was marked by many achievements that, as a result of the hard work and dedication of Crystex Composites, LLC skilled employees, transformed Crystex from a single dimensional platform with expanded products that provide new opportunities for continued growth in revenue and profitability. A few of these achievements include:
- Capital and New Product Development
a) In response to domestic and international market demands, Crystex has developed a range of high voltage stand-off insulators for the transportation industry. These parts have a maximum working temperature of 450°C and meet all the necessary regulations. Work is continuing and additional parts will be added in 2010. These products are completely RoHS compliant.
b) Development of studs and brush holder insulators for railway traction motors.
c) The development of additional RoHS compliant molding grades to replace lead based products.
d) Re-certification of ISO 9001 to ISO 9001-2008 and continued to fine tuning of our processes for optimum quality product.
e) Enhanced mechanical and electrical testing capabilities.
f) Ongoing commitments to continue the modernization of our equipment and buildings.
g) The Completion of new Sales and Marketing strategy.
- Financial and Operating Performance
a) Strengthen the Company’s balance sheet.
b) Remained profitable while absorbing capital and modernization costs.
c) Improved our enterprise resource software to provide better foundation for reporting analysis, and integration.
Summary:
Our top priority in 2010 is to expand the breadth and depth of our products and to raise the Company’s visibility to generate a better quality product, and revenue growth. We will continue to transform our business model to compete on a broader scale and to stay at the level of our customers’ expectations. Our main philosophy is to strive for operational excellence in a culture focused on meeting our Customer’s needs with innovative solutions, which will underscore the Company’s dedication to ensuring the continued success in the years ahead.
I appreciate your continued interest and support of our Mykroy/Mycalex products and look forward to reporting to you our continued progress throughout the next coming year. I would also like to extend a thank you to our employees and customers whose contributions to our efforts create the opportunity to deliver a higher quality product and outstanding customer service. Best wishes to all of you for a successful 2010.
Sincerely,
George L. Flores
President/CEO
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