Season's Greetings from Aalborg Industries 2008

18 December 2008

Aalborg Industries wishes all our customers, suppliers, business associates and staff a Merry Christmas and a Happy and Prosperous New Year.

Close to the New Year, the Aalborg Industries Group is headed for another satisfactory year-end result. As a consequence of the global financial crisis and the latest rapid downturn in the world economy we must, however, expect some new and rather different challenges for our business in the coming years. The financial fabric of our globalized world has become fragile, and we can only hope that the world economy – and we - get through this crisis strengthened and less vulnerable to upheavals of this character.

How the global crisis will affect Aalborg Industries in the long run will depend on the world market recovering. In view of the (fortunately as yet rather few) order cancellations we have received, we are likely to expect a much more cautious market that will be looking for innovation in terms of better offers from a cost-conscious organisation that brings environmentally friendly products much more into the picture.

We are already focusing on and developing fuel saving and environmentally friendly products that can contribute to reducing the emission of CO2, NOx and sulphur by the shipping industry, among others through waste heat recovery and cleaning of flue gases. Our “green” initiatives will be for the benefit of our global environment and climate, but also of the economy of shipowners.

During the past year, Aalborg Industries has boosted our global After Sales activities by organizing our local after sales offices under key account centres that can deliver our full range of expertise and services. In addition, the organization is being expanded with a number of specialty centres for, among others, LNG service. 

The Aalborg Industries Group with its staff of almost 3,000 employees worldwide are well prepared for the many new challenges to be faced in the coming year. We thank you all for a good co-operation in 2008 and look forward to doing business with you again in 2009.

Yours faithfully

Aalborg Industries A/S

Jan Vestergaard Olsen

President & CEO