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Annual Report
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Despite unfavorable trends in the business environment, the BRUGG Group can be satisfied with its overall results in fiscal 2009. The recession had tangible, although not deeply damaging, effects on ongoing business activities. The Group’s sales volume, revenues quality, and order backlog all declined when compared to our record year in 2008.
The Cable Systems division continued to expand its market position in China, India, and Poland. Capital investments for the core power transmission business increased our innovative strength and productivity. The new heavy wire-rope production plant in Romanshorn boosted Fatzer’s market position. The elevator cable unit set up a new company in Dubai. The successful integration of German Pipe into the Pipe Systems division significantly increased the division’s profitability. Rittmeyer strengthened its market position with new power station projects. The expansion of the site at the head office in Brugg was implemented according to plan. Even with the Group’s significant investment burdens, we were able to further reduce our bank debt. In general, we profited from a decline in the cost of materials and from a reduction in fixed costs. The difficult business environment necessitated further increasing necessary provisions and reserves.
On August 12, 2009, our Vice President, Dr. Rudolf Merker, met with a fatal accident while vacationing in the mountains. With his death, we have lost not just a valued colleague, but also a dear friend.
We would like to thank all our employees for their extraordinary dedication and their contribution to the good results over the past year. We also want to thank our customers, suppliers, and shareholders for their continued confidence in and loyalty to our Group.
O.H. Suhner, dipl. Ing. ETHZ
Chairman of the Board
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