This crisis will pass, and each of us must be ready for the moment.

The effects of the present turmoil have had a serious impact in the economy, in our own companies, our current clients and all our business partners. We all have suffered reductions in orders, revenues and profits. These are also tough times for banks. Because banks are reducing their exposure to risks, it has become increasingly more difficult to negotiate rates and credit limits with them. But this economic crisis, like all others before it, will pass.

Growth will return, although not in the same way or in the same places as before. The developing countries, especially China, India and Brazil will be a new source of projects for all our industry. The result will be a different world to the one we knew, some countries and regions will have it difficult to sustain the living standards they were enjoying, other regions are already out of the crisis in what refers to investments and growth. We have to be ready to take our share. It is important to be ready for the moment when the recovery comes.

The companies that will benefit the most from this moment are those companies that:

- Have reduced operating costs and increased productivity.

- Have been able to preserve a workload through the crisis, being able to retain key staff - Are bold enough to confront the new scenario, placing the know how in the markets that are to lead in this economic recovery.

- Have maintained a professional approach to clients, defending their own position but trying to help customers and other industrial partners during the downturn.

We at Beroa have been very active in the last months making sure that our group is ready for the recovery. We are working closely with our customers to help them be the winners and leaders in that recovery.