This is one of the best times to live in the northwest of Holland if you like flowers. The tulips are all in full bloom and when I look out my office window I see fields of orange, red, purple and yellow in front of me. It is a pity that they will cut the flowers one or two weeks from now and the rest of the year we look at bare soil. Customers and partners visiting us at this time of year are impressed by the view and some even take pictures. I’m sure they admire our new building, though admittedly it’s the tulip fields that seem to be the main attraction.
The view relaxes me and it makes me reflect on the past three months. One of the major events during this period was acquiring Technobis Crystallization Systems, formerly one of our customers, Avantium Pharmatech. It has never been our strategy to grow by acquisitions (in spite of due diligence you never know exactly what you are acquiring in terms of technology, employees and atmosphere), but I changed my mind when I heard that Avantium Pharmatech was for sale. We have developed and supplied their crystallization research systems for close to ten years, so we knew their business, the company and most of the people involved. It seemed like a low-risk, high-gain transaction.
One of the main reasons to take this step was our desire to have our own end-product line of OEM products, and adding the crystallization systems to the portfolio is a big step forward. Having a sales director in the US also helps in developing the business, and being an OEM company gives us insights into the challenges OEM companies face.
After three months of working together I have become increasingly convinced that this was one of the best decisions of recent years -- the team and business fit together so well that it feels like it has always been this way.
It is good to conclude that you are never too old to change your strategy.
More details of our activities are recounted in this newsletter. Please enjoy reading it.
Pim Kat, CEO