President Keynote Speech to Customers and Employees

This year the MERMEC Group will operate in line with the guidelines adopted by the European Union over the past months: strong focus on reducing inefficiencies and full commitment on re-boosting growth.

The company closed 2011 on target by accomplishing all the key business objectives we set earlier this year: we had an increase in orders, in EBITDA - that now counts 23% of revenues - and in operating cash flow.

In the next weeks the company will execute a capital increase without the entry of new shareholders neither change in control.

The 2012 will be the year of re-launch with significant investments planned in brand awareness, new product development and key markets positioning.

Our multi-year strategic business plan foresees a robust growth path over the next three years and thanks to the remarkable ability of people working in our Group, I'm sure we can reach the goals we set ourselves.

Vito Pertosa
President & CEO