Memorex 2006 Annual Report Download - page 11

{9} Imation Annual Report
Imation’s large global footprint
2006 REVENUES
europe
33%
asia-
pacific
14%
americas
53%
Lean champions participate
in an Imation kaizen event.
reaching
customers in
approximately
100 countries
Imation’s European headquarters,
Schiphol-Rijk, Netherlands.
DISCIPLINED STRATEGIC PROCESS
In Imation’s early years as an independent company, we divested
non-core businesses as part of our strategy to focus on growing the
company in data storage. Through these several divestitures, we
developed and sharpened our project management skills, necessary
for the significant organizational changes that naturally followed.
Today, as we look to accelerate our growth, we are confident that
these skills – honed in divestiture – are serving us well as we
undertake strategic growth initiatives.
We relied on our project management skills as we planned the
integration of our first major acquisition – Memorex. One of the
major risks with any acquisition comes after the deal closes:
successfully integrating the businesses to achieve projected
synergies and keep the business performing. Cross-functional
“integration teams” identified 285 key milestones with more than
2,000 specific activities from supply chain, sourcing, back office,
sales and marketing. In only eight months, we completed essentially
all scheduled tasks.
An important part of our integration effort included the consolidation
of four separate distribution centers across the U.S. into one “mega”
logistics center in Southaven, Mississippi. The center was up and
running by year end and is now serving our entire North American
customer base.
BUILDING ON OUR STRONG COMPETITIVE POSITION
2006 was a remarkable year, a year in which we capped a decade
of growth and innovation with the acquisition of Memorex. Our key
to future growth is to leverage our technology expertise, expand our
portfolio of brands, continue to create new product innovations and
build on our global market position. From the Americas to Europe
to Asia-Pacific, the appetite for our products continues to grow. Our
unyielding focus remains on harnessing our strengths to take full
advantage of that growth opportunity.