After two intense years in which Beroa has increased its international presence through acquisitions in the market, the Group requires focusing and consolidating its activities under its current perimeter.

Beroa strategic goals of entering the market for refractory maintenance and completing our range of products in the chimneys’ sector were achieved with the integration of the Burwitz Group, NovoCOS and Ramco, on the one hand, and by taking a majority stake in Steelcon, leader company in steel chimneys construction. Such actions, in addition to complying with the Group’s strategic plan, allowing Beroa reassert its global pre-eminent place in the market, help us when it comes to deal with the present international economical crisis from which almost no player can be considered exempt, being likely to continue to affect us during some time.

That uncertainty, together with the size reached by the Group today, recommends us to focus during these present and future months in optimizing the companies that already form part of the Group (without giving up, though, a good opportunity that might arise), acting where we really have a direct influence: the costs. The group companies, being aware since some months about the need to improve our price structure, have being accommodating their costs to a new reality in a crisis environment.

It is a process the Group sees as an opportunity to improve its productivity and market position. As we are willing to keep our leading position –taking advantage of our companies and countries were we are present-, we have the duty to continue to optimize this process while safeguarding the interests of our customers, our staff (the biggest asset of the Group) and our shareholders.