Rayovac 2004 Annual Report Download - page 13

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T O ฀ O U R ฀ S H A R E H O L D E R S ฀
(Continued)฀
฀฀฀฀฀฀฀Rayovac’s฀success฀has฀been฀predicated฀฀
on฀our฀highly฀effective฀growth฀strategy.฀
Innovation
T h e ฀ P o w e r ฀ B e h i n d ฀ O u r ฀ B r a n d s . ฀ G r o w t h . ฀ D i s c i p l i n e . ฀ F o c u s . ฀ S t r a t e g y . ฀ I n n o v a t i o n . ฀ E x p e r i e n c e .
executed฀by฀country-based฀teams.฀In฀sum,฀Rayovac฀is฀today฀one฀of฀few฀companies฀of฀our฀size฀
with฀the฀expansive฀manufacturing฀and฀supply฀capabilities฀that฀global฀retailers฀so฀eagerly฀seek—
a฀distinction฀that฀positions฀us฀well฀to฀continue฀to฀grow฀our฀Company฀and฀win฀new฀business.
With฀our฀global฀footprint฀firmly฀in฀place,฀we฀have฀shifted฀our฀focus฀to฀organic฀growth฀and฀
diversification฀through฀acquisition฀into฀new฀growth฀categories.฀We฀are฀now฀concentrating฀on฀
strengthening฀our฀brands฀and฀introducing฀new฀strategic฀marketing฀initiatives.฀We฀are฀dedicat-
ing฀additional฀resources฀to฀product฀development฀efforts.฀We฀are฀working฀to฀leverage฀our฀global฀
information฀technology฀infrastructure,฀distribution฀channels,฀purchasing฀ power฀and฀ operating฀
structure฀to฀drive฀efficiencies฀and฀further฀reduce฀costs.฀Finally,฀we฀are฀laying฀the฀groundwork฀
to฀ expand฀ our฀ distribution฀ profitably฀ in฀ every฀ market฀ where฀ we฀ compete.฀ We฀ firmly฀ believe฀
that฀our฀success฀in฀implementing฀these฀measures฀will฀yield฀maximum฀value฀from฀our฀current฀
portfolio฀of฀businesses.
At฀the฀same฀time,฀we฀will฀continue฀to฀seek฀attractive฀acquisition฀candidates,฀like฀Remington,฀
that฀can฀further฀diversify฀our฀product฀categories.฀This฀diversification฀will฀improve฀our฀risk฀profile฀
and฀allow฀us฀to฀leverage฀our฀global฀infrastructure฀across฀a฀broader฀range฀of฀consumer฀product฀
categories,฀thereby฀positioning฀us฀to฀deliver฀increased฀profitability.฀Our฀goal฀is฀for฀Rayovac฀฀
to฀offer฀a฀ broad฀range฀of฀branded฀consumer฀products฀and฀become฀ an฀ even฀more฀significant฀
competitor฀in฀growing฀market฀categories฀around฀the฀world.฀As฀we฀work฀to฀realize฀this฀goal,฀we฀
have฀set฀a฀new฀benchmark฀by฀which฀to฀measure฀our฀progress:฀To฀double฀our฀annual฀revenues฀
to฀$3฀billion฀within฀three฀to฀five฀years.
Leveraging฀the฀Power฀Behind฀Our฀Brands
Though฀doubling฀our฀revenues฀in฀such฀a฀short฀period฀may฀seem฀like฀an฀ambitious฀target,฀we฀
are฀confident฀that฀we฀can฀achieve฀it฀while฀driving฀bottom-line฀growth฀and฀creating฀shareholder฀
value.฀ Our฀ conviction฀ is฀ rooted฀ in฀ Rayovac’s฀ unique฀ strengths,฀ which฀ serve฀ as฀ the฀ power฀
behind฀our฀portfolio฀of฀global฀brands.฀These฀strengths฀encompass฀qualities฀that฀distinguish฀our฀
Company฀not฀only฀as฀an฀outstanding฀consumer฀products฀supplier,฀but฀as฀a฀well-run฀corporate฀
entity,฀and฀a฀rewarding฀place฀to฀work.