Addressing the company’s annual general meeting Arni Oddur Thordarson, Chairman of the Board of Marel, said that he was proud of the results delivered by the management and staff of Marel in 2009, in difficult conditions. He added that the financial crisis that began in 2008 led to a world-wide economic downturn of greater magnitude than we have seen in decades.
According to him the global industrial production shows clear signs of recovery, underpinned by a rapid global recovery of equities and re-opening of banking markets. Thordarson also said that the company has created value for customers and shareholders after having transformed the competitive landscape in a highly fragmented industry.
He added that now the company is an undisputed world-wide industry leader in developing and providing equipment and solutions to the poultry, meat and fish industries, with an increased focus on the convenience food segment. He informed that the growth is expected at a rate of 4-7 percent in the coming years.
Theo Hoen, CEO of Marel, said that the company has established itself as the global leader in its field following the successful implementation of a strategy of external growth. The company’s Board of Directors was authorised to increase share capital by as much as ISK 45,000,000 nominal value by issuing new shares to be used to fulfil share option contracts concluded with employees.
