Annual Report 2006
Göran Jönsson
President
The 2006 financial year was marked by many changes in the Exel Group. Through the acquisition of the Australia- based Pacific Composites Pty. Ltd, Exel established itself as the first international pultrusion company with a worldwide share of the pultrusion market of some 10%.
The acquisition was synergistic and enabled Exel to serve global customers, to restructure its European production and to gain faster access to Chinese production. The integration of Pacific Composites proceeded as planned in 2006, but we faced challenges in other areas.The development of the Sport Division was highly unsatisfactory. Sales declined and the operating results dropped sharply. During the year...
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Main events in 2006
- In February Exel acquired the shares of the Australia-based Pacific Composites Pty. Ltd.
- Production of industrial composite profiles in Nanjing, China was started
- In January the decision was made to transfer the finishing and assembly of pole and floorball products to China during the year
- Ari Jokelainen, President & CEO, resigned from Exel as of 20 November 2006.