npx10 - Annual Report 2010 Directors report Curtains and...

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Annual Report 2010
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DIRECTORS’ REPORT Nuplex distributes a range of high-end products used in the cosmetics and personal care industry. Cosmetics Nuplex manufactures resins and gelcoats used in boats, surfboards and swimming pools. Surfboards, boats & swimming pools Nuplex Resins are used in adhesives for carpet backing and underlay. Carpet Nuplex resins and specialty chemicals are used to protect and enhance some of our most valuable assets and are ingredients in products we use every day . NUPLEX INDUSTRIES LIMITED Nuplex manufactures UV-stable and dry- clean resistant emulsions used in coating textiles to make soft furnishings. Curtains and blinds
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DIRECTORS’ REPORT 1 2010 ANNUAL REPORT Nuplex is a leading producer of resin for coatings used in the timber and furniture industries. Furniture coatings (timber) Tissue producers in Australasia rely on Nuplex resins to add wet strength to tissue substrates. Tissues A leading supplier of high performance resins used in paint on new and refinished vehicles. Automotive Nuplex manufactures resins for metal coatings. Metal Nuplex is a leading supplier of high-end flooring solutions in New Zealand. Flooring Nuplex distributes and manufactures surfactants used in hair care products in Australasia. Shampoo Paper production in Australasia relies on Nuplex’s process and functional chemicals to provide strength and finish. Resins are also used in colour printing ink. Magazines AGM NOTICE CONTENTS 3 Highlights 2010 4 Chairman’s Report 6 Chief Executive Officer’s Report 8 Business Overview 17 Safety, Health and Environment Report 20 Board of Directors 22 Nuplex Executive Team 24 Corporate Governance 31 Financial Report The 2010 Annual General Meeting of Nuplex will be held at 10am, Wednesday, 3rd November 2010 at Waipuna Hotel and Convention Centre in Auckland. Nuplex is a primary distributor of chocolate to food manufacturing companies in Australasia. Chocolate Nuplex is a global leader in resin technology used in paints and surface coatings for residential and industrial applications. Paint
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NUPLEX INDUSTRIES LIMITED 2 MANUFACTURING LOCATIONS AUSTRALASIA: 12 MANUFACTURING PLANTS RESINS & SPECIALTIES RESINS RESINS RESINS AUSTRALIA 1 Sydney 2 Melbourne 3 Brisbane 4 Perth 5 Wangaratta THAILAND 4 Bangkok CHINA 5 Suzhou 6 Foshan NEW ZEALAND 6 Auckland UNITED STATES 1 East St. Louis 2 Louisville UNITED KINGDOM 1 London NETHERLANDS 2 Bergen op Zoom VIETNAM 1 Ho Chi Minh City MALAYSIA 2 Malacca INDONESIA 3 Surabaya 1 2 1 2 4 3 1 5 2 6 3 4 1 5 2 6 ASIA: 6 MANUFACTURING PLANTS EUROPE: 2 MANUFACTURING PLANTS AMERICAS: 2 MANUFACTURING PLANTS
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3 2010 ANNUAL REPORT HIGHLIGHTS 2010 Record EBITDA, operating profit and net profit in Nuplex’s 54 years as a public company EBITDA up 52% to $139.4 million, driven by recovery in volumes, tight margin management and restructuring benefits Net profit after tax up 284% to $64.2 million Operating cash flow of $104.7 million and lower ratio of working capital to sales, led to a stronger balance sheet Dividend of 21 cents, up from 8.5 cents
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