I am pleased to announce a very positive change in the direction of the company that I expect will be a major step in making INSULECTRO more proactive and effective in managing our business.  As I’ve communicated in the past we need to find avenues to significantly expand our market share and increase our profitability in each of our product offerings.  I strongly believe that to do this we need to fundamentally change the way in which we manage the business so that it will allow us to focus on multiple opportunities and challenges at the same time continue to provide the best support and service to our customers. Our goal is to attain 25% market share by 2010.

In order to accomplish this we need RESOURCES that allow us to multitask and focus but more importantly we need FOCUS. Today I am pleased to announce the creation of a Product Management Group that will have principle responsibility for supplier relationships and development.  This group will have direct and constant contact with our key suppliers. This new group will be tasked with:

1)      Communicating our strategy and direction as a company to all our suppliers

2)      Communicating our sales teams requirements and accessing the tools we need in order to attain our goals

3)      Further developing the business relationship with suppliers at all levels.

4)      Better understanding our suppliers priorities, requirements and focus (work toward alignment)

5)      Working with Sales on targeting new business opportunities and higher percentage of conversions to wins.

6)      Understanding and communicating our market share/mix in depth and driving growth

7)      Managing the day-to-day issues and opportunities that arise with our suppliers in the normal course of business

I am convinced that this may very well be one of the break-through strategies we need to get to the next level of success in our market. We have opportunity all around us at all times; it’s a matter of focus and execution. 

I am please to announce that effective July 1, 2005, Ken Parent will assume the responsibility of Vice-President of Product Management.  Ken has done an exceptional job over the past 5 years as VP of Focus Tech®. It has not been an easy role to say the least. He has hired a strong team of people, made two highly critical supplier transitions and through it all has kept a positive, hard charging attitude.

I am very excited about this new strategy and would ask each of you for your full support and commitment to its success.