Sei sulla pagina 1di 5



7RS0(3FRQWUDFWRUVDQGFRQVXOWDQWV

7RS0(3FRQWUDFWRUVDQGFRQVXOWDQWV
&DWKDO0F(OUR\6HSWHPEHUWK
5(/$7('$57,&/(67RS0(3FRQWUDFWRUVDQGFRQVXOWDQWVO7RS
0(3FRQWUDFWRUVDQGFRQVXOWDQWVO7RS0(3FRQWUDFWRUVDQGFRQVXOWDQWV
O7RS0(3FRQWUDFWRUVDQGFRQVXOWDQWVO7RS0(3
FRQWUDFWRUVDQGFRQVXOWDQWV
'UDNH 6FXOO(QJLQHHULQJ
EQYDOXHRIFRQWUDFWVZRQEHWZHHQ4DQG4
7KHILJXUHVSURGXFHGE\'UDNH 6FXOO(QJLQHHULQJ '6( DUHWUXO\VWDJJHULQJ
,QWKHPRQWKVIURP4WKH0(3GLYLVLRQRIWKHSXEOLFO\RZQHGFRQVWUXFWLRQJURXSZRQGHDOVZRUWKEQ $('
EQ 
,WVODUJHVWDZDUGGXULQJWKHSHULRGFDPHIURPWKH/RXYUH0XVHXPSURMHFWLQ$EX'KDELZKHUHLWEDJJHGDP $('P
FRQWUDFW
+RZHYHULQWKHODVWWZHOYHPRQWKVWKHFRQWUDFWRUKDVDOVRPDGHDVWULNLQJGHQWLQWKH4DWDULPDUNHWZKHUHLWZDVDZDUGHGDQ
PGHDOIRUZRUNRQ3KDVH&RIWKH0VKHLUHE'RZQWRZQ'RKDSURMHFWDQGDP $('P FRQWUDFWRQWKH0DOORI
4DWDUGHYHORSPHQW
:LWKLWVZRUNIRUFHRIHQJLQHHUVDQGODERXUHUVWKHILUPKDVDOVRVWUHQJWKHQHGLWVDOUHDG\VL]HDEOHSUHVHQFHLQWKH
.XZDLWLDQG6DXGLPDUNHWVZLWKDKDQGIXORIZLQVLQHDFKZKLOHFRPSOHWLQJDQGKDQGLQJRYHUSURMHFWVDURXQGWKHUHJLRQ
'6(KDVFRPSOHWHGWKHLQWHUQDOPHUJHUDQGHQKDQFHPHQWRILWVNH\VHUYLFHVLQWKHSDVW\HDUDQGLVQRZUHDG\WRRIIHULWV
LPSURYHGDUUD\RI0(3DQGZDWHUDQGSRZHUWHFKQRORJLHVWRFOLHQWVVD\V$KPDG$O1DVHUPDQDJLQJGLUHFWRURI'UDNH 6FXOO
(QJLQHHULQJ
:HDUHZHOOHVWDEOLVKHGLQNH\PDUNHWVOLNH8$(.6$4DWDU.XZDLW(J\SWDQG2PDQDQGKDYHLPSURYHGRXUPDUNHWVKDUHLQ
-RUGDQ,QGLD$OJHULDDQG6RXWK(DVW$VLD
:HZLOOSXUVXHGDWDFHQWUHUDLOGLVWULFWFRROLQJDQGRWKHUHVVHQWLDOSURMHFWVLQWKHIXWXUHDQGHVWDEOLVKRXUSUHVHQFHDVWKH
OHDGHULQWKHUHJLRQDOHQJLQHHULQJLQGXVWU\KHDGGV
$UWLFOHFRQWLQXHGRQQH[WSDJH
$WNLQV
HQJLQHHUVLQUHJLRQDO0(3GHSDUWPHQW
2XUNH\PDUNHWVDQGVHFWRUVKDYHUHDOO\FRPHWROLIHDQGDUHSHUIRUPLQJZHOOVD\V$WNLQVKHDGRI0(3SURSHUW\&DWK\
&KULVWHU
$PRQJWKHZRUNWKDW$WNLQV0(3HQJLQHHUVDUHWDFNOLQJDWWKHPRPHQWDUHVRPHRIWKHUHJLRQVODUJHVWDQGPRVWFRPSOH[UDLO
SURMHFWV:RUNRQ'RKD0HWURV5HGDQG*ROGOLQHVDQG/XVDLO/LJKW5DLO7UDQVLWV\VWHPLQ4DWDUZDVFRPSOHPHQWHGE\WKH
ILUPVZLQQLQJRIDP 6$5P GHDOWROHDGGHVLJQ3DFNDJHRIWKH5L\DGK0HWURSURMHFW
2QWRSRI$WNLQVUDLOSURZHVVLQWKHUHJLRQWKHILUPLVFRQWLQXLQJLWVOHDGGHVLJQZRUNRQWKHEQ 6$5EQ .LQJ
$EGXOD]L],QWHUQDWLRQDO$LUSRUWH[SDQVLRQSURMHFWDVZHOODVSURMHFWVLQ'XEDLVXFKDVWKHFLW\V2SHUD+RXVH$O+DEWRRU
5HVLGHQFHVDQGDVXSHUWDOOWRZHURQ6KHLNK=D\HG5RDG
6XFKZRUNKDVVHHQ$WNLQV0LGGOH(DVWUHYHQXHLQULVHE\WRP P ZKLOHRSHUDWLQJSURILWLQFUHDVHG
KWWSZZZFRQVWUXFWLRQZHHNRQOLQHFRPDUWLFOHWRSPHSFRQWUDFWRUVDQGFRQVXOWDQWVSULQW





7RS0(3FRQWUDFWRUVDQGFRQVXOWDQWV

E\WRP P 
$UWLFOHFRQWLQXHGRQQH[WSDJH
(7$(QJLQHHULQJ
PYDOXHRIFRQWUDFWVZRQLQ
(YHQWKRXJK(7$(QJLQHHULQJDGPLWVWRKDYLQJVHHQPDUNHWFKDOOHQJHVLQWKHILUVWKDOIRIWKLV\HDUWKHFRPSDQ\VWLOO
PDQDJHGWRERRNSURMHFWVZRUWKDURXQGP $('EQ GXULQJWKHSHULRGRIZKLFKDUHLQWKH*&&DFFRUGLQJWR
WKHILUP
6LQFHWKHVWDUWRIWKH\HDUWKHFRPSDQ\KDVDOVRVHHQLWV$EX'KDELRSHUDWLRQ(7$0 (KDQGRYHULWVIDVWWUDFNZRUNRQWKH
VSHFWDFXODU+D]]D%LQ=D\HG6WDGLXPLQ$O$LQDQGFRQWLQXHZLWKLWVHIIRUWVRQWKHEQ $('EQ &OHYHODQG&OLQLF
SURMHFW
0HDQZKLOHLWV4DWDUDUP(7$6WDUKDVEHHQEXV\WDFNOLQJ3KDVH%RI0VKHLUHE'RZQWRZQ'RKD'HYHORSPHQWDQGLWKDVDOVR
EHHQH[WHQGLQJLWV*&&RSHUDWLRQVLQ6DXGL$UDELD
2XUDSSURDFKRYHUWKHODVWPRQWKVKDVEHHQWRFRPSOHWHPDMRUSURMHFWVLQKDQGDQGFRQVROLGDWLQJWKHEXVLQHVVHVZLWKD
UHQHZHGIRFXVRQFRUHHQJLQHHULQJDFWLYLWLHVVD\V&(26KDXNDW$OL0LU
+DYLQJVXFFHVVIXOO\PDQDJHGWKHFKDOOHQJHVIDFHGE\WKHLQGXVWU\WKHFRPSDQ\KDVHPHUJHGDVDPRUHUHVLOLHQWIRUFHDQGLV
QRZIRFXVVHGRQLPSOHPHQWLQJRXUJURZWKVWUDWHJLHVZLWKHTXDOIRFXVRQEXLOGLQJVHUYLFHVLQIUDVWUXFWXUHSRZHUDQGLQGXVWULDO
SURMHFWVDFURVVGLYHUVHJHRJUDSKLHVRI*&&$IULFDDQG,QGLD
:LWKWKHSROLWLFDOVFHQDULRLQ,QGLDVWDELOLVLQJDQGWKH*&&PHWURSURMHFWVWDNLQJVKDSHZHVHHQH[W\HDUDVDFULWLFDORQHIRU
RXUEXVLQHVVJURZWKKHDGGV
$UWLFOHFRQWLQXHGRQQH[WSDJH
:63
PYDOXHRIFRQWUDFWVZRQLQ
6LQFHWKHEHJLQQLQJRIWKLV\HDUDORQH:63KDVZRQDURXQGP $('P RIZRUNRQUHWDLOUHVLGHQWLDOFRPPHUFLDODQG
KRVSLWDOLW\SURMHFWV
0RVWO\ORFDWHGLQWKH8$(WKHSURMHFWVLQFOXGHDQHQJLQHHULQJGHVLJQDQGFRQVWUXFWLRQVXSHUYLVLRQGHDOIRUWKHWZRWRZHU,&'
KHDGTXDUWHUVLQ'XEDLDQGWKHOHDGFRQVXOWDQWFRQWUDFWIRUWKH'XEDL0DOO%RXOHYDUGH[SDQVLRQ
+RZHYHUZRUNIXUWKHUDILHOGRQWKH5LW]&DUOWRQUHIXUELVKPHQWDQGDFRXQWU\SDODFHLQ4DWDUDVZHOODVDWUDQVSRUWVWXG\RI$O
+DPUDDUHDLQ-HGGDKKDVDOVRDOORZHGWKHFRPSDQ\WRH[SDQGLWVSUHVHQFHLQWKH*&&
,QWKHFRPSDQ\KDGDOUHDG\ZLWQHVVHGDJURZWKLQWXUQRYHUWRDURXQGP $('P VRORRNVVHWWR
H[FHHGODVW\HDUVLPSUHVVLYHILJXUH
7KHDEXQGDQFHRIZRUNVHFXUHGE\:63KDVPHDQWWKHFRPSDQ\KDVKDGWREXONXSLWVEXLOGLQJVHUYLFHVGHSDUWPHQWZLWKWKH
QXPEHURIVWDIIULVLQJWRHPSOR\HHVIURPWKHEHJLQQLQJRIWKH\HDUDQGFXUUHQWO\YDFDQFLHVRSHQ
$W:63ZHJHWRIRXUZRUNIURPRIRXUFOLHQWVDQGRYHUWKHSDVWPRQWKVZHKDYHEHHQIRFXVVHGRQHQVXULQJ
WKDWWKHTXDOLW\DQGTXDQWLW\RIRXUUHVRXUFHVKDYHEHHQLQSODFHWRHQVXUHZHFRQWLQXHWRZLQDKLJKSHUFHQWDJHRIUHSHDW
EXVLQHVVVD\V5D\0RRUHGLUHFWRURI0(3
:HKDYHIRFXVHGRXUJURZWKDURXQGWKHIROORZLQJGLYHUVLI\LQJRXUFOLHQWEDVHDQGFOLHQWW\SHVLQVHFWRUDUHDVZKHUHZHDUH
VWURQJGLYHUVLI\LQJRXUFRXQWU\SUHVHQFHE\ZRUNLQJZLWKH[LVWLQJFOLHQWVLQQHZUHJLRQVORRNLQJDWQHZVHFWRUVRQWKHEDFNRI
RXUZLGHUJURXSH[SHUWLVH
7KLVVWUDWHJ\LVEHDULQJIUXLWDQGDVZHPRYHLQWRRXURUGHUERRNLVVWURQJDQGZHFRQWLQXHWRDWWUDFWEULJKWDQG
H[SHULHQFHGWDOHQWWRWKHEXVLQHVVKHDGGV
KWWSZZZFRQVWUXFWLRQZHHNRQOLQHFRPDUWLFOHWRSPHSFRQWUDFWRUVDQGFRQVXOWDQWVSULQW





7RS0(3FRQWUDFWRUVDQGFRQVXOWDQWV

$UWLFOHFRQWLQXHGRQQH[WSDJH
+/6
PYDOXHRIFRQWUDFWVZRQLQODVWPRQWKV
+DEWRRU/HLJKWRQ6SHFRQ +/6 KDVKDGDQRWKHUSURGXFWLYH\HDUZLWKWKHFRPSDQ\VWRWDOSURMHFWYDOXHULVLQJE\P $('
EQ LQWKHSHULRG
:RUNLQKDQG LQFOXGLQJ-9V QRZWRWDOVP $('EQ VSUHDGDFURVVWKHUHJLRQ+/6EHJDQRSHUDWLRQVLQ.6$ODVW
\HDUZLWKWKHODXQFKRI6SHFRQ6DXGLZKLOHLWDOVREURNHLQWRWKH2PDQPDUNHWZLWKWKH6DUD\D%DQGDU-LVVDK+RWHOSURMHFW
0DQDJLQJGLUHFWRU7KUDVRV7KUDV\YRXORXVD\V7KHVHDUHYHU\H[FLWLQJWLPHVIRU+/67KHUHFHQWSURMHFWDZDUGVWDNHWKHYDOXH
RIRXUDZDUGHGFRQWUDFWVLQWKHODVWPRQWKVWRRYHU$('EQ>P@VROLGLI\LQJRXUSRVLWLRQDVRQHRIWKHOHDGLQJ0(3
SOD\HUVLQWKHUHJLRQ
:HH[SHFWWKLVWRFRQWLQXHDQGWRJURZZLWKRXUFRUHPDUNHWRI'XEDLSLFNLQJXSDJDLQDIWHUWKHHFRQRPLFGRZQWXUQDQGWKH
PHGLXPDQGORQJWHUPSODQVRI$EX'KDEL4DWDU.6$DQG2PDQIRULQYHVWPHQWVLQLQIUDVWUXFWXUHKRVSLWDOLW\DQGKHDOWKFDUH
SURMHFWVKHDGGV
:HDOVRSODQWRH[SDQGE\VHFXULQJVLJQLILFDQWZRUNLQWKHUDLOPHWURVHFWRUWKURXJKVWUDWHJLFDOOLDQFHVDQG-9VDQGEHFRPH
DPDUNHWOHDGHULQWKHILHOGRI&RQFHQWUDWHG6RODU3RZHU &63 DVDQ(3&FRQWUDFWRU
:LWKDZRUNIRUFHRIDURXQGVWDIIDQGPRUHWKDQWUDGHVPHQ+/6FRPSOHWHGWZRPDMRUSURMHFWVLQWKHODVW\HDU
'RKD&LW\&HQWUH3KDVH,,,LQ4DWDUDQG7KH%XLOGLQJVE\'DPDQLQ'XEDL
1HZDZDUGVLQFOXGHZRUNVDW7KH/RXYUH$EX'KDEL+DEWRRU&LW\3KDVH$'XEDL6DUD\D%DQGDU-LVVDK+RWHO2PDQ+XE
=HUR)DPLO\(QWHUWDLQPHQW&HQWUH'XEDLDQGFHQWUDOXWLOLW\EXLOGLQJV (DVW0LGILHOG3HULPHWHU5RDGVDWWKHQHZ$EX
'KDEL$LUSRUW
7KUDV\YRXORXDGGHG:HDLPWRVHH+/6EHLQJHVWDEOLVKHGDVWKHOHDGLQJGLYHUVLILHGLQWHUQDWLRQDO0(3HQHUJ\DQGSRZHU
FRQWUDFWRULQWKH0(1$UHJLRQDFKLHYLQJDWRSOLQHJURZWKSHUDQQXPDQGGHOLYHULQJLQFUHDVHGYDOXHWRRXU
VKDUHKROGHUV
$UWLFOHFRQWLQXHGRQQH[WSDJH
+\GHU&RQVXOWLQJ
P0LGGOH(DVWWXUQRYHU
+\GHU&RQVXOWLQJVVXFFHVVLQWKHUHJLRQVLQFHWKHEHJLQQLQJRIODVW\HDUZRXOGSHUKDSVH[SODLQZK\$UFDGLVDQG1LSSRQ.RHL
KDYHEHHQHQJDJHGLQDEDWWOHWRDFTXLUHWKHEXVLQHVV
2IWKHFRPSDQ\VWRWDOZRUOGZLGHUHYHQXHVRIP P WR0DUFKP P RIWKLVZDVEURXJKWLQ
E\LWV0LGGOH(DVWRSHUDWLRQVUHSUHVHQWLQJDLQFUHDVHLQUHYHQXHVLQWKHUHJLRQIURPWKHSUHYLRXV\HDU
7KLVLPSURYHGILQDQFLDOSHUIRUPDQFHKDVEHHQDFFRPSDQLHGE\DQDSSUR[LPDWHO\LQFUHDVHLQ+\GHUV0(3VWDIIQXPEHUVLQ
WKHODVWPRQWKV7KHFRQVXOWDQWLVKRPHWR0(3UHODWHGHPSOR\HHVORFDWHGDFURVVLWVRIILFHVLQ'RKD0DQDPD'XEDL
$EX'KDEL$O$LQDQG-HGGDKDVZHOODVLQLWVGHVLJQFHQWUHVLQ,QGLDDQGWKH3KLOLSSLQHV
+\GHUV0(3EXVLQHVVFRQWLQXHVWRHYROYHDVZHVHFXUHVLJQLILFDQWSURMHFWVLQQHZJHRJUDSKLHVDQGPDUNHWVEXLOGLQJXSRQRXU
WUDGLWLRQDOVWUHQJWKVLQWKHOHLVXUHWRXULVPDQGFRPPHUFLDOPDUNHWVVD\V%ULDQ/DFH\UHJLRQDOWHFKQLFDOGLUHFWRU0(3DQG
+HDOWKFDUH
0RVWQRWDEO\ZHKDYHPDGHJUHDWVWULGHVLQWKHKHDOWKFDUHDQGLQGXVWULDOPDUNHWVDQGLQ6DXGL$UDELD7KLVLVHYLGHQWLQRXU
QHZFRQWUDFWZLQVWKHPRVWVLJQLILFDQWRIZKLFKLQFOXGH+DPDG*HQHUDO+RVSLWDO'RKD0HGLFOLQLF+RVSLWDOLQ'XEDL6HFXULW\
)RUFHV0HGLFDO&LW\ 6)0& LQ5L\DGKDQGWKH'XEDL)UDPH
$UWLFOHFRQWLQXHGRQQH[WSDJH

KWWSZZZFRQVWUXFWLRQZHHNRQOLQHFRPDUWLFOHWRSPHSFRQWUDFWRUVDQGFRQVXOWDQWVSULQW





7RS0(3FRQWUDFWRUVDQGFRQVXOWDQWV

.(2,QWHUQDWLRQDO&RQVXOWDQWV
PYDOXHRIFRQWUDFWVZRQLQODVW\HDU
.(2,QWHUQDWLRQDO&RQVXOWDQWVVHHPLQJO\IDYRXUHGPDUNHWRI4DWDULVDOVRSURYLQJWREHDSURVSHURXVRQH
:LWKFRQWUDFWDZDUGVZRUWKDWRWDORIDURXQGP 4$5P LQ4DWDUDORQHRYHUWKHODVWWZHOYHPRQWKVWKHFRQVXOWDQW
LVFHUWDLQO\VWDNLQJDVWURQJFODLPRQWKH*XOISHQLQVXOD,WVPRVWQRWDEOHVXFFHVVLQWKDWWLPHKDVEHHQWKHPGHDOIRUIXOO
GHVLJQDQGVXSHUYLVLRQVHUYLFHVRQDKRVSLWDOSURMHFW
7KHFRPSDQ\DOVRKDVRWKHUPDMRUSURMHFWVRQJRLQJPRVWRIZKLFKDUHDOVRLQ4DWDUH[FHSWIRULWVZRUNRQ3KDVHRI$EX
'KDEL(GXFDWLRQ&RXQFLOV6FKRROVSURMHFW
7KH.(20(3WHDPLVQRZUXQQLQJDWVWDIIEDVHGLQLWVWKUHHPDLQRIILFHVLQ'RKD$EX'KDELDQG.XZDLW7KLVUHSUHVHQWV
DQLQFUHDVHRIDSSUR[LPDWHO\IURPWKHSUHYLRXV\HDUZKLFKWKHFRPSDQ\VD\VUHIOHFWVWKHVWHDG\JURZWKLWKDVEHHQ
H[SHULHQFLQJGXHWRWKHLQFUHDVHGSURMHFWZLQV
)XUWKHUJURZWKLQWKHFRPSDQ\KDVRFFXUUHGZLWKDIRUPDOODXQFKRILWVOLJKWLQJGHVLJQVHUYLFHVDVZHOODVDSXVKWRWUDLQVWDII
LQVXVWDLQDEOHGHVLJQPHWKRGV7KHFRQVXOWDQWKDVDOVRKDGD\HDULQZKLFKLWKDVIXOO\HPEUDFHG%,0LQWURGXFLQJLWLQWRDOORI
LWVRIILFHV
$OOQHZSURMHFWVDUHEHLQJGUDZQLQWKH%,0SODWIRUPVD\V'DUUHO6WUREHOPDQDJLQJGLUHFWRURI0(3HQJLQHHULQJ7KLVKDV
UHTXLUHGDODUJHLQYHVWPHQWLQKDUGZDUHVRIWZDUHDQGWUDLQLQJRIRXUVWDIIDORQJZLWKWKHKLUHRI%,0H[SHUWLVH0DQ\RIWKH
QHZRSSRUWXQLWLHVLQWKHUHJLRQUHTXLUH%,0DQGRXUHIIRUWVKDYHHQVXUHG.(2LVQRWRQO\UHDG\WRDFKLHYHWKLVEXWDOVRKDV
FUHGLEOH%,0SURMHFWH[SHULHQFH
$UWLFOHFRQWLQXHGRQQH[WSDJH
$(&20
HQJLQHHUVLQ0(3GHSDUWPHQW
:KLOHFRPPLWWLQJPXFKRILWVHIIRUWVLQWKH*&&WRLQIUDVWUXFWXUHSURMHFWV86EDVHGFRQVXOWLQJJLDQW$HFRPKDVDOVRPDQDJHG
WRNHHSLWV0(3WHDPRFFXSLHGZLWKDQXPEHURILQWHUHVWLQJSURMHFWV
2YHUWKHODVWWZHOYHPRQWKVWKHFRPSDQ\KDVGHOLYHUHG.LQJ.KDOLG0HGLFDO&LW\LQ'DPPDPDVZHOODV*HQHUDO(OHFWULFV6DXGL
KHDGTXDUWHUVLQ'KDKUDK0HDQZKLOHLWV8$(WHDPKDVKDQGHGRYHUWKH)RXU6HDVRQV+RWHOSURMHFWLQ$EX'KDEL
7KHFRPSOHWLRQVKDYHDOORZHGWKH0(3GHSDUWPHQWWRWXUQLWVDWWHQWLRQWRWKHILUPVZRUNRQ.LQJ.KDOLG,QWHUQDWLRQDO$LUSRUW
LQ5L\DGKDORQJZLWKWKH7DWZHHU6FKRROV3URJUDPWKDWLWLVFDUU\LQJRXWIRUWKH6DXGLJRYHUQPHQW
$HFRPKDVDOVREHHQSXVKLQJWKHDGRSWLRQRI%XLOGLQJ,QIRUPDWLRQ0RGHOOLQJ %,0 DPRQJLWVVWURQJ*&&0(3WHDP
$HFRPV(OL]DEHWK3HWHUV%,0PDQDJHULQWKH8$(VD\V%,0LVWUDQVIRUPLQJWKHZD\SURMHFWVDUHGHVLJQHGDQGGHOLYHUHG
ZRUOGZLGH,WVSRWHQWLDOWRUHYROXWLRQLVHWKHGHVLJQSURFHVVLQWKHILHOGRI0(3LVKXJH7KHXVHRI%,0DFURVVWKH*&&LV
JURZLQJ2XUFOLHQWVDUHGHPDQGLQJLWVXVHRQODUJHVFDOHSURMHFWVDVLWDOORZVWKHPWRYLVXDOLVHZKDWWKHHQGSURGXFWZLOOORRN
OLNHWKHUHE\DYRLGLQJDQ\FRVWO\FKDQJHVWRWKHSURMHFWVFRSH
$UWLFOHFRQWLQXHGRQQH[WSDJH
'DU$O+DQGDVDK
\HDU'DU$O+DQGDVDKZDVIRXQGHG
,QGLVSXWDEO\RQHRIWKHUHJLRQVFRQVXOWDQF\SRZHUKRXVHV'DU$O+DQGDVDKKDVHQMR\HGDQRWKHU\HDURIVXFFHVV
%XLOGLQJRQLWVYDVWDUUD\RIUHIHUHQFHVRQVRPHRIWKHUHJLRQVODUJHVWDQGPRVWZHOONQRZQSURMHFWVODVW\HDUWKHFRPSDQ\
UHFHLYHGZLGHVSUHDGSODXGLWVIRULWVZRUNRQ'XEDL,QWHUQDWLRQDO$LUSRUWVQHZFRQFRXUVHDW7HUPLQDO
+RZHYHUSHUKDSVWKHPRVWLQWHUHVWLQJZRUNFDUULHGRXWE\LWV0(3WHDPKDVEHHQRQRQHRI4DWDUVSODQQHG),)$:RUOG
&XSVWDGLXPV:LWKWKHZRUOGZRQGHULQJKRZ4DWDUSODQVWRKRVWD:RUOG&XSWRXUQDPHQWLQWKHKHDWRIDGHVHUWVXPPHU
KWWSZZZFRQVWUXFWLRQZHHNRQOLQHFRPDUWLFOHWRSPHSFRQWUDFWRUVDQGFRQVXOWDQWVSULQW





7RS0(3FRQWUDFWRUVDQGFRQVXOWDQWV

'DUVHQJLQHHUVKDYHSURYLGHGDQDQVZHUZLWKWKHLUGHVLJQIRUWKHVHDW$O.KRU6WDGLXP
7KHILUPGHYHORSHGDQDOODLUV\VWHPWKDWHIIHFWLYHO\FRROHGWKHRSHQURRIVWDGLXP$VDUHVXOWWKHPD[LPXPWHPSHUDWXUHLQWKH
ILHOGRISOD\DQGEOHDFKHUVDUHDVGRHVQRWH[FHHGDQG&UHVSHFWLYHO\ZKLOHWKHDYHUDJHWHPSHUDWXUHDWKHDGOHYHO
YDULHVEHWZHHQDQG&
$QRWKHUXQLTXHIHDWXUHRIWKHVWDGLXPLVLWVGHHSEODFNFRORXU+RZHYHUWKHFRORXUDOVRSRVHGDFKDOOHQJHWR'DUVHQJLQHHUV
DVWKHEODFNURRIULVNVUDGLDWLQJDORWRIKHDWLQVLGH7RFRPEDWWKLVWKH'DUWHDPRQFHDJDLQVKRZHGLWVHQJLQHHULQJH[SHUWLVH
LQWURGXFLQJDQDGGLWLYHLQWRWKHPHPEUDQHWRUHIOHFWWKHVRODUUD\V
$UWLFOHFRQWLQXHGRQQH[WSDJH
$O)XWWDLP(QJLQHHULQJ
PYDOXHRIFRQWUDFWVZRQLQODVW\HDU
$O)XWWDLP(QJLQHHULQJVD\VLWKDVERRNHGRYHUP $('EQ ZRUWKRI0(3SURMHFWVLQWKHODVW\HDUDFURVVLWVWKUHHPDLQ
RSHUDWLYHPDUNHWVLQWKH8$(6DXGL$UDELDDQG4DWDU
$PRQJWKUHHRWKHUPDMRUSURMHFWVVHFXUHGZHUH$YHQXH0DOOLQ'XEDLDGLVWULFWFRROLQJSODQWLQ'RKD)HVWLYDO&LW\DQGZRUNRQ
WKH-DEDO2PDU'HYHORSPHQW3KDVHLQ0DNNDK
,QWKH0(3GLYLVLRQVD\VWKDWLWH[SHULHQFHGJURZWKLQOLQHZLWKWKHZLGHU$O)XWWDLP(QJLQHHULQJJURXSZKLFKSRVWHGD
LQFUHDVHLQWXUQRYHUIRUWKHSHULRG)LJXUHVIRUWKHILUVWKDOIRIDUHVDLGWRVKRZDQHYHQIDVWHUUDWHRIJURZWKZLWKD
LQFUHDVHLQWXUQRYHUDJDLQVW+
7KHUHLVDJUHDWHUXQGHUVWDQGLQJZLWKLQWKHGHYHORSHUFRQWUDFWLQJHFRV\VWHPRIWKH0(3WUDGH660XUDOLDFWLQJPDQDJLQJ
GLUHFWRUVD\V)URPWLOOGDWHWKHUHKDYHEHHQFKDOOHQJHVDFURVVWKHLQGXVWU\ZLWKPDQ\ELJQDPHVQRWEHLQJDEOHWR
GHOLYHURQSURMHFWV7KH$O)XWWDLPEUDQGQDPHKDVKHOSHGXVGXULQJWKLVFKDOOHQJLQJSHULRGDQGLVUHFRJQLVHGLQWKHPDUNHWDV
EHLQJUHOLDEOHERWKIURPTXDOLW\DQGGHOLYHU\SHUVSHFWLYHDVZHOODVILQDQFLDOVWUHQJWK

,73%XVLQHVV3XEOLVKLQJ/WG_8VHRIWKLVVLWHFRQWHQWFRQVWLWXWHVDFFHSWDQFHRIRXU8VHU3ROLF\3ULYDF\3ROLF\DQG7HUPV &RQGLWLRQV

KWWSZZZFRQVWUXFWLRQZHHNRQOLQHFRPDUWLFOHWRSPHSFRQWUDFWRUVDQGFRQVXOWDQWVSULQW



Potrebbero piacerti anche