Sunbeam 2001 Annual Report Download - page 5

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In a further step to solidify the platform of Alltrista
for the future, in December 2001 we sought and
received overwhelming shareholder support for a
number of corporate initiatives designed to enhance
our ability to present a more attractive company to
investors. These initiatives included moving the
company’s state of incorporation from Indiana to
Delaware, increasing the authorized share capital
and creating and amending stock option plans to
attract and motivate your management team.
I am pleased to report that despite all of the
distractions and strategic initiatives during 2001,
the core remaining businesses of Alltrista turned in
solid financial results. All of these businesses were
profitable with healthy operating margins, a fact
that is a testament to the resilience of our businesses
in tough economic environments.
As you will see in this 2001 Annual Report, the
renewed focus on Consumer Products will serve as
the foundation for future growth. That is not to
imply that our Materials Based Group will not
continue to receive attention and be an integral part
of the company over the long term, but merely will
not be where we will seek external growth.
Your management and employees are delighted
to be past the turmoil of 2001. Morale in the
company is high, enhanced by the renewed
support and approval from Wall Street and our
larger shareholders.
Chairman’s Letter
Martin E. Franklin
Chairman and
Chief Executive Officer
Looking forward into 2002, we were delighted
to announce the proposed acquisition of Tilia
International, Inc. This acquisition, if completed, will
not only bring us leadership in home vacuum pack-
aging systems, but will bring our consumer products
concentration to over 72% of sales. We will greatly
benefit from the strong leadership at Tilia and they
will be a welcome complement to our team.
I look forward to providing a more detailed descrip-
tion of the enlarged group when reporting on our
progress for 2002.
Yours sincerely,
Martin E. Franklin
Chairman and
Chief Executive Officer
3
Alltrista