On its 40th anniversary, Comer Industries has marked up positive results. Consolidated turnover registered a 15% increase, consolidated Ebitda reached around 27 million euros and consolidated indebtedness fell sharply: these are the major figures and aspects of a year, 2010, that is showing the first signs of recovery after the global economic downturn of the last two years, due also to the favorable currency exchange situation, especially the U.S. dollar and the Chinese yuan.
The results and prospects will be presented this evening to the company personnel by Fabio Storchi, president and CEO of Comer Industries, during the year-end ceremony at the Reggio Emilia Exhibition Center.
The company policies adopted for recovery are centred on internationalization and on the gradual shift of the core of development towards Asia. The growth recorded in all the industrial sectors of the company (agriculture, construction equipments and renewable energy), has been driven in particular by the Chinese market: here, Comer Industries has increased its turnover by more than 70%, thanks to the Shaoxing production site and to its Branch Office in Shanghai.
To improve its operational efficiency, the company has also concentrated on the excellence of its manufacturing and new product development processes based on world class managerial models. 2010 in fact saw the launching of the CPS (Comer Production System) project, which has already obtained initial results in the recovery of productivity, waste reduction and people involvement. At the same time, the activities of Comer Academy continue: once again in 2010, the company’s in-house management school was involved in intense training program. Over 80 multi-disciplinary courses were held, with the aim of upgrading the professional skills of the staff and spreading change culture.
Forty years of growth that will also continue in 2011, thanks to the global economic recovery and the continuous improvement and innovation policy constantly pursued by the company.
As president Fabio Storchi stated, “In 2010, we grew significantly, strengthening our worldwide presence and creating the foundations for being even more competitive and successful on the global market. We have focused most of our efforts on people, on innovation and on internationalization to ensure ongoing growth and development in the years ahead.”