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Letter from Group CEO
Most people are now back from their summer holidays. I hope the weather was good and you enjoyed a restful break.
For some, however, it has been a very busy time. In mid-August, we completed the purchase of Imacon A/S in Denmark.
Founded in 1995, Imacon has quickly become one of the world's top suppliers of professional, reproduction-quality scanners and digital camera backs.
Imacon's revolutionary technologies have achieved what the industry has dreamed of for decades by taking the ability to produce reproduction-quality digital images and film scans -- and placing it within the reach of any professional. Today, Imacon products ensure that users at all levels of technical expertise can deliver a perfect image every time.
The objective of this acquisition is to integrate the knowledge and digital capabilities of Imacon with Hasselblad, our Swedish camera manufacturing subsidiary, to create the world leader in digital and analogue professional photography.
Closer to home, we started a new business in Thailand, Shriro Equipment (Thailand) Ltd. This company specialises in the supply of turf maintenance equipment to, primarily, golf courses (there are a great many of the highest standard in Thailand), as well as parks and sports stadiums. This is similar to the business we have in Hong Kong and China (see article below) representing Textron Turf from the USA and other leading brands.
We wish both Imacon A/S and Shriro Equipment (Thailand) Ltd. a warm welcome to the Group, and great success in the future.
We are now entering what is, traditionally, the busiest time of the year for the Group both in terms of sales and profits, and the sheer volume of products moved. We have enjoyed a much improved first half of 2004, and if the final push is successful, we should have an excellent result for the full year to report.
Articles in this newsletter feature "Saving Tiger in India", and an interview with the legendary Neil Pryde of the eponymous Neil Pryde Ltd., our "Action Sports" company. We hope you find this informative of some of our group's activities. Any comments or feedback, or even articles for future InForms, are welcome.
Good luck and strong selling.
Michael R. Binns
Hasselblad / Imacon Announcement
Please click onto this link www.hasselblad.se to view the article.
Saving Tiger - the Maharaja of the Lakes
The article is courtesy of Dr. Larry Hansen, who is devoted to the conservation and protection of wild tigers. Dr. Hansen founded the Carl Zeiss Wildlife Conservation Award in India five years ago and has been supporting the Santago Rare Leopard Foundation in the U.K. Dr. Hansen recently visited a tiger sanctuary in India and took photos of wild tiger and other animals with a Hasselblad H1 camera.
I am at the base of the mountain below the Fort in Ranthambore Park in Rajasthan, India. The lake before the Jogi Mahal begins to reflect the early morning light, it's 6:00am. I am near him, the great hunter, the spectacular Tiger called the "maharaja of the lakes"! Aaaaoooog, Aaaaoooog, the call of the tiger vibrates your stomach and prickles your hair. I want to see him to photograph this god of the animal world. I am with Fateh Singh Rathore, founder of Ranthambore Park and the world's most accomplished Tiger expert. He always seems to know where the Tiger will be. His son Goverdan believes his father even thinks like a tiger. With anticipation, I pull out my camera, the H1 Hasselblad. Fateh looks suspiciously at it and says that in all his years in the field, he hasn't seen anyone shooting with such a camera. I explain the large film format to him and he is even more surprised. I have used 6x6 and 6x4.5 cameras for wildlife photographs before. As Fateh Singh rightly comments, in the end photographers abandon them due to practical considerations such as weight, focusing ability, fragility, cumbersome handling and so on. But have you ever seen a Cheetah or a Tiger projected from a medium format slide? Nothing else will do!
Now with the H1 from Hasselblad even wildlife images are possible with medium format photography. The camera feels immediately comfortable, light and part of your hand. All controls are where you want them and very ergonomic in placement. The design is beautiful but in the field that pleasure is realized only if the camera can take the day-by-day abuse of dust and sometimes rough handling. This H1 is not fragile, it feels solid and indestructible.
What about auto focus, the limitation of other medium format cameras for quick moving wildlife? I also had at hand a 35mm professional grade auto focus camera. Not much difference! The H1 is quick, accurate, and leaves you with confidence that you won't miss the shot. You can shoot smoothly and the camera anticipates your moves with its fine ergonomics and auto-focus. I found the features and possibilities on the camera to be incredible and yet straightforward to figure out and use even without the manual. It is very easy to integrate your style of shooting to the sophisticated software interface and technology. The balance in your hands is without peer in medium format and certainly a 35mm format camera cannot compare. The camera is class leading quiet, with its central shutter, important with wildlife or birds already suspicious of your presence.
In my so far limited time with this camera, the images were excellent: sharp, beautiful colour rendition and good bokeh, far better than any 35mm image.
Now I have found an autofocus medium format camera, allowing access to the image advantages of the film format for use in the fast and rough conditions of the field. What to do with all of my 35mm bodies and lenses now!
By the way, His majesty, the maharaja of the lakes, appeared finally for a few seconds and then disappeared in the jungle. I eagerly anticipate my next time photographing nature with the Hasselblad H1.
Shriro's Golf Equipment Generates Excitement in China
With the boom in the high-end consumer markets in China, golfing is growing in popularity as a recreational pastime. There are now over 170 recreational and professional golf courses in China.
Demand for Shriro Equipment's range of golfing and course maintenance equipment has also shown significant growth corresponding with this shift in the market. We have stepped up our marketing and promotional efforts to ensure that our products and services receive a wide audience.
Pursuant to this strategy, Shriro Equipment participated in the Third China International Golf Trade Fair held from 13 to 15 May in Beijing. The fair is one of the largest golf trade fairs in China, attracting 125 exhibitors and 24,000 visitors this year. The occasion was perfect to debut some of the latest models of high-end turf equipment and golf cars distributed by Shriro Equipment in South and North China, and response to the new models was extremely encouraging.
"The new models certainly attracted a lot of attention," said Mr.Arix Lai, Managing Director of Shriro Equipment. "We have already received enquiries on a number of new models from many potential buyers."
The models offered by Shriro Equipment are from the world's finest turf care and golf cart manufacturers, such as Jacobsen and E-Z-GO. Both enjoy long-standing relationships in the market. Shriro Equipment's relationship with Jacobsen, a leading turf care manufacturer headquartered in the US, dates back to 1995 when Shriro Equipment entered the China market. Our relationship with E-Z-GO, the world's leading golf car manufacturer, has been in place for over nine years. E-Z-GO produces a wide range of golf cars for passenger pick-up and transport, and other heavy-duty purposes including maintenance and construction.
The new products featured at the Trade Fair include:
Mag-Knife - a patented technology that deploys magnetism to attach a specially designed bottom blade to the cylinder mower. Unlike the traditional blade which is screwed onto the mower, the Mag-Knife technology allows for more efficient blade replacement.
Tournament Cut - a light-footed walk-behind greens mower with green-hugging floating reel cutting system that delivers the legendary Jacobsen cut on undulating greens.
TXT Freedom PDS - a high-end golf car painted in metallic black colour and equipped with a CD player. The Precision Drive System (PDS) provides enhanced safety protection with its regenerative braking, anti-rollback and diagnostic capabilities. The golf car is also the world's first golf car with an automotive-like body, adding to the fun of driving.
ST4x4 - an all-purpose utility car. Powered by a V-twin Honda engine, it can conquer any rugged terrain.
Shriro Equipment showcases a range of new products at the Fair, attracting visitors to its booth.
Staying at the Top of the Sales League
In 1995, Shriro Equipment entered China's golf course maintenance market with two dealerships. Despite entering the market late, Shriro Equipment has managed to beat the competition with its emphasis on after-sales service. The success of this strategy is evident in the fact that Shriro Equipment is now one of the leading golf maintenance equipment and golf car distributors in China.
Shriro's track record of success in this growing market shows no signs of abating. Early this year, Shriro Equipment completed the commissioning of more than 1,000 sets of E-Z-GO golf carts for a group operating high-end golf resorts in South China - a sales record-breaker.
Congratulations to Shriro Equipment, and best wishes for continued success!
Shriro Graphic Celebrates its 5th Anniversary
Management and staff of Shriro Graphic Limited commemorated five successful years with a celebratory anniversary dinner in July. Shriro Graphic is a leading distributor of high-quality printing supplies and pre-press materials for the Hong Kong and China markets. It represents BASF, Konica, Teikoku and Sefar, all of which are world-famous brands. 2002 marked an important milestone for Shriro Graphic with the establishment of a medium-sized factory in Huizhou, China, producing waterbased ink and overprinting varnish. The establishment of the factory represents an important step in Shriro Graphic's strategy of tailoring services to the specific printing requirements of its highly sophisticated clientele.
Company Profile: Neil Pryde
The Will to Win
"I sail to win. I never go on the water for fun," says Mr. Neil Pryde, legendary yachtsman and founder of Neil Pryde Limited - the world's leading designer, manufacturer and distributor of boardsails, boardsail rig products, neoprene wetsuits, snowboard bindings, windsurfing boards, kites and kite surfing board and sport accessories. In-Form interviews Mr. Pryde on the keys to Neil Pryde's ascendance to global leader.
A passion for the business
Mr. Pryde, a New Zealander, started his career as a chartered accountant. A very successful yachtsman, Mr. Pryde has become a legend in his own lifetime for aspiring windsurfers. Yachting became such a passion with him that he resigned his steady job and began to work for a sailmaker in Hong Kong. In 1970, he started his own business, Neil Pryde Limited in Hong Kong, manufacturing yacht sails. The company is today a world leader in sportswear and activewear, with 2,200 employees and revenues of over US$ 76 million.
The Secret to His Success?
"I like winning and I want to be the leader in everything I do," said Mr. Pryde. Whether sailing or running a company, Mr. Pryde values the adrenaline rush he gets from competing to be the very best, above all else. Based on his unique insight and first-hand experience of extreme sports, Neil Pryde's products are designed for enthusiasts and athletes who share the same passion for winning.
From Strength to Strength
From sails to windsurfing products was a logical evolution, when the yachting market matured in the 1980s. When expanding the business Mr. Pryde focuses on whether the Company's know-how, brand and distribution can bring synergies for greater success. He is well known for his ability to spot upcoming sports, move into the market quickly and establish a leading position in the top end of the market.
For example, Neil Pryde's "cut and sew" technology developed for the sailmaking is also fundamental to boardsails. A leader in boardsail rig technology, Neil Pryde stepped back into yachting and to supply sails for the 49er Class, the high performance Dinghy Class in the Athens Olympics.
In 1992, Neil Pryde took the next logical step of its growth as a company, when it launched its famous neoprene wetsuits - Neil Pryde Waterwear. Wetsuits are highly technical garments, targeted at consumers who knew and trusted the Neil Pryde brand. Now, Neil Pryde Waterwear is among the top wetsuit brands in quality and technology and holds a significant share of the market.
Neil Pryde branched into the manufacture of high performance snowboarding boots and binding in 1996 with the launch of Flow. A patented binding technology and complementary boots and boards deliver maximum comfort, flexibility and performance.
As kiteboarding gains in popularity as the next hot watersport, Neil Pryde launched Cabrinha, a full product line of kites, kite boards and accessories in 2001.
A Manufacturer at Heart
Despite the high profile of the Company, the awards and the global marketing, Mr. Pryde most enjoys the time he spends in his factories.
"I enjoy manufacturing. Nothing can be compared to the satisfaction I feel when I see products bearing my company's logo and name coming off the production line," said Mr. Pryde.
Neil Pryde moved its production facilities to South China in 1989. It now works with Chinese partners, where Neil Pryde provides manufacturing equipment and know-how and his Chinese partners supply workers and space. In 2000, Neil Pryde acquired Omareef Thailand, extending the Company's production facilities outside China.
Contract manufacturing for famous sport brands has always been a key part of the Company's business, with many of the world's top sports brands numbering among its clients. The OEM business has been a stable and reliable source of income.
Neil Pryde has in recent years gone upstream by vertically expanding from design and manufacturing to distribution. It has built a comprehensive distribution network in key markets through the establishment of Adverture Sports Inc. in the US, Neil Pryde Europe S.A. in France, and Shriro Sportvertrieb GmbH in Germany. In Japan, distribution is handled by Shriro Trading, a member of the Shriro Group of Companies. Its distribution network is responsible for managing and deepening Neil Pryde's relationship with roughly 3,500 retailers around the world.
"We sell to very niche markets, and brand image is extremely important. Control over the distribution channel offers the important benefit of ensuring that consistent messages about our products reach the market," said Mr. Pryde.
Staying at the Top
It takes energy, determination and vision to stay at the top. At 64, Mr. Pryde remains in the top league at yachting competitions around the world, recently winning the President's Cup Regatta Philippines (2004). On the business front, he continues to look for challenges and development opportunities. Plans are already underway to open a Neil Pryde flagship store in Hong Kong in 2005.
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