Hamilton Beach 2015 Annual Report Download - page 11

9
products derived from coal. NACoal is working with
a range of technical experts and potential partners
who could help develop projects based on these
technologies. However, any significant growth
in domestic coal mining opportunities is largely
dependent on the United States adopting a more
balanced energy policy in which coal continues
to play a key role, including through new coal
technologies. Developing new opportunities and
securing new contracts is a long-term initiative
that will take time. This is a significant strategic
priority at NACoal.
NACoal believes that a large majority of
consumers in the United States will benefit
from a domestic energy policy which balances
affordability, energy needs and environmental
responsibility. The company believes that, for
the foreseeable future, coal must remain an
integral part of the nation’s total energy mix for
the United States to continue to be competitive in
a global economy. NACoal will continue to monitor
pending regulations and legislation and will take
a leadership role to help encourage reasonable
regulation by the government. Importantly, NACoal
expects to continue to address changes to
domestic environmental regulatory requirements
by working collaboratively with its customers,
trade associations, representatives of regulatory
bodies, and government officials.
Overall, NACoal’s attractive but unusual
business model, based largely on long-term cost-
reimbursable contracts, provides a solid foundation
for all of the company’s coal and limerock mining
operations. This business model offers generally
stable cash flow before financing activities with
minimal capital investment, other than at MLMC,
which will continue to require ongoing replacement
capital. NACoal will continue to pursue growth
over the next few years mainly as the company’s
newer mines reach full production. NACoal
expects to continue its record of operational
excellence in safety, environmental stewardship
and production at each of its mining operations
and, over time, to deliver profitability that exceeds
its financial objectives.
Hamilton Beach Brands
Overview
Hamilton Beach Brands’ (HBB) vision is to
be a leading designer, marketer and distributor
of small electric household and specialty house-
wares appliances, as well as commercial products
sold worldwide under preferred brand names
and to achieve profitable growth from innovative
solutions that improve everyday living.
HBB develops and invests in several core
competencies that are critical to achieving that
vision. Most importantly HBB has a culture based
on a foundation of Good Thinking™. Whether
Hamilton Beach’s focus on consumer-driven
innovation led to the development of the
following products (clockwise from bottom
right): Digital Simplicity™Rice Cooker,
Breakfast Burrito Maker, 8-Cup Food Processor,
FlexBrew®Programmable Single Serve
Coffee maker with Hot Water Dispenser,
Set & Forget®Programmable Slow Cooker, and
Easy Reach™Convection Oven.