In March 2010, Centravis holding celebrates its 19th anniversary. Today structure of the company includes plant for seamless stainless steel tubes production "CENTRAVIS PRODUCTION UKRAINE", branching network of trading companies all over the world and other subdivisions. Centravis unites more than 2000 high-skilled employees, the company is considered one of the leaders at seamless stainless steel tubes world market. First of all, it is merit of numerous staff members who shares values and strategy of the company, as well as customers and partners who supported us in different periods of our business formation. Today, in difficult time for the steel companies, your support is particularly important for our company.
Since November 2008 the company became aware of negative impact of global financial and economic crisis. We were forced to take unpopular decisions, freeze investment projects, reduce costs, to apply other anti-crisis measures.
The entire 2009 was not easy for us. Along with externalities as global financial crisis, reduction projects in chemical industry, petrochemistry and energy, tubular products consumption decrease, not systematic VAT refund, special protective duties against our products in Russian Federation, we were faced with a number of internal facts. The main internal risks were associated with unstable production due to the start up of new equipment on-site of Centravis holding.
Large-scale investment program Centravis started in 2006. Today, we understand the decision taken was correct - commissioning of new equipment will allow us reduce costs, master new products, get new quality level, expand sales geography. However, process of new equipment start up in 2009, diverted the part of internal resources and hindered us to fulfill obligations to our customers. I am grateful to all our customers who supported us this year and bore with temporary difficulties in the company.
If analyzing our last year product portfolio, then to many of us, it was innovative, experimental, and therefore risky. We consciously assumed these risks, developed new products, were dynamic in technology development. All this gave us an opportunity to provide stable production, support business liquidity, maintain a professional team, as well as to lay foundation for further development.
Any business is strong by the team. All of us - workers, engineers and top managers of the company - last year passed examination for professional competence, proving devotion to the cause. Slowly recovering from crisis by solving internal problems, now we are entering new period of our development, we are in for dynamic actions - commercial operation of new equipment, production of new products, expansion to the new markets. With such a foundation, we work on development of traditional social programs for team development and giveaway programs. I am confident that we are able to cope with these big challenges.
I am grateful for your understanding and support throughout the company's history, and especially for support in 2009. I am grateful to you, customers, employees, financial and business partners of Centravis.