“2007 was a remarkable year to Cabelte Group.
It is important to highlight the change of the shareholder’s structure as Atlanticables, joined the equity share of Cabelte Holding, allowing it to withhold a majority position.
Additionally, as Mr. Adalberto Neiva de Oliveira, chairman of the group for 24 years, decided to cease his executive role, an Executive Body was chosen to carry out the executive management.
We will construct the future without forgetting the past
Having the honour to be the Executive President of the company, I decided to choose a governance model adjusted to the company’s future.
The organizational model adopted aims the commitment of all departments in all the companies of the Group. The core is the teamwork and also the role of our officers, giving responsibilities to elements with given proofs of competence and, so, deserving my total confidence.
With the shareholder’s change operated on December 2006, and with the increasing synergies created within the companies of the Group, namely with Desco incorporation, it was possible to improve and consolidate in several domains, providing a sound base for the good moment the company has been passing during the last year.
Special focus should be given to the creation of a commercial model, steadily based on a main brand – CABELTE – which shall be present on all the products of the Group.
Some prestigious financial entities supported the Group business strategy; this reinforced the conviction we justifiably had on the value of this project.
To these entities we should clearly express our gratitude for the manifested confidence.
We should also express our appreciation for the partnership finished in 2007 with the venture capital companies, who were supporting Cabelte on its last process of re-structure. After Cabelte Group had scrupulously honoured its compromises and after those companies have fulfilled their mission of support while necessary, they left their participation on the equity capital of Cabelte Holding in 2007.
We are expecting years of hard work, still, we keep on looking always to provide to our customers a service excellence; the reinforcement of our capital gains; we persist in the international growth; on the continuous improvement of our performance; on the rigorous fulfilment of our financial commitments and in the maintenance and even creation of jobs adequately remunerated, developing the perspective of a citizen company we want to maintain and respect.
Special attention is being given to the possibility of growth by buying industrial plants, allowing the opening of new markets and, consequently, to place ourselves as leaders in some market segments.
The results we present on the current economical year, on a market context of slow economical expansion, evidence that we have the capacity to create resources which will allow a sustainable basis of a safe and steady growth.
However, we think that the achieved results do not reflect yet the wish and ambition of this Executive Committee, since the course on the shareholders’ structure change slide, and delayed the taking of important measures that we expect to have a strong impact on profitability.
We know that the Group has the capacity to do more and better.
The Improvement Plans that we have implemented throughout the departments of all companies, allow us to access the future with pure optimism, and with the conviction in our capacity to win challenges that certainly will appear.
In 2008 we will concentrate the industrial activity of low voltage power cables (nowadays branched by different industrial plants) on a single production plant – CABELTE BT, which will be located in Ribeirão – Vila Nova de Famalicão, land adjacent with Cabelauto.
The environment is a constant concern for us, and so, we are implementing a unit – CABELTE RECYCLING – which will handle the industrial scrap generated by the companies allowing its reutilization on the manufacturing process.
We are also implementing another new unit, CABELTE METALS, which will produce the main metalic raw materials – copper and aluminium rod for our own production.
The motto of the “new” Cabelte Group - Working Together – represents the way we want to be viewed within and outside the company, on a context of share and partnership with customers, financial entities, suppliers, collaborators and shareholders.
We are sure that we follow the right path to the success of an enterprising global Project, renewed and ambitious.
Finally, I wish to reassure the confidence that the Executive Committee place in the Company evolution, and to assume the compromise that we will continue looking for the value maximization and the strengthen of the Group as an innovative and competitive institution, searching to be a leader on the economic group we are involved. I take the opportunity to express my gratitude to all Collaborators, for the cohesion and team work they have been showing during the running process of renewal.
For everything, my sincere gratitude”
Tiago Neiva de Oliveira