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Operations: overview

In 2005, we completed our transition plan of relocating key operations to global regions that will enable us to compete in the marketplace as a low-cost producer of automotive leather components. Most recently, we have completed the acquisition of CUINBA in León, México, and Seton in Europe and South Africa to further strengthen our position. Finally, our JV in India with TIL provides us with a state-of-the-art facility to support India and Southeast Asia. We have also enhanced our network of strategic supply chain partners in Mexico, South America, Germany and South Africa to support our overall technological and production leadership position.

In addition, we have expanded our execution of lean manufacturing principles to our global operations and introduced a Best Practice Sharing Process between our extended network of production facilities. The optimal global manufacturing footprint is now in place and the key word for our future is execution.