Ladies and Gentleman’s I’m glad to see you today. For a start I want to check whether all representatives are present today.
Let me to remember our Director of Research Ilya Lapinsky , Marketing Manager Ivan Malashenko, Production Manager Tatyana Shlyapnikova and Financial Controller Ekaterina Titova. As I can see all representatives are here. Well, It’s about time we got started.
In order to define the purpose of today’s meeting First of all I would like to start from presenting the current situation at Nigerian Battery Company. Please pay your attention to the screen. Here we can see a chart that shows total NBC’s market share at the renewal lead acid battery market. As you can see at the beginning of October 2010 it’s totaled about a quarter of the entire market. Nigerian Battery Company also has nearly a third of the “original equipment market”. You can see at the next chart. Our main business partners are Peugeot in Nigeria, Nissan in the Ivory Coast, Toyota in Ghana, and Volkswagen in Cameroon.
The situation at NBC is not bad, but I think that it’s about time to think about extending NBC’s market share and increasing turnover. So the main item on the agenda today is finding ways of NBC’s further development and increasing turnover. Before doing that we should decide whether we need to develop new products lines or change operating market. And it is the second item on the agenda.
I’m open to listen to all your suggestions and proposals according to these questions.
Who wants to go first? Would you like to open a discussion, Ilya? You are welcome.
Thank you, Ilya. According to what you’ve said you see the future of our company in production of nickel cadmium batteries for electric vechicles. I’ve got it. Of course there some questions that I have to you, but before we continue I want to make a proposal to build our discussion in that way: we will listen to all reports and then you can ask your questions. Thank you for now, and we continue.
I'd like to give the floor to our Production Manager. Tatyana you are welcome.
Thank you. I’ve got it. I think your proposal might to pretend to be the right way of actions. But as well as I know we have one more point of view to this question. Ivan, would you like to continue?
Thank you. Ivan. I see unlike 2 previous proposals you are talking about the fundamentally changing the realm of using lead-acid batteries. Your offer is quite risky but we will bear it in mind it because with the right actions it can be very beneficial for us in the future.
Now I would like to listen to the opinion of our financial controller. What do you think about this, Kate?
So At the meeting it was suggested several approaches to solving the problem.
All of them definitely deserve our attention. We must weigh all pros and cons for each proposal. I would to start from the first one about what our Director of Research have been talking.
Can you please remind the benefits of this type of batteries . What is the general feelings on this?
Without a doubt, your proposal is very interesting but I tend to agree with Kate that introduction this new product will take too much time and investments, that we cannot afford now cause it’s not clear now whether these product will bring profit and market share or not. What I want to say is that we have to postpone with this proposal anyway we will be back to this discussion.
It seems that we have a consensus. During our meeting few different proposals were discussed. Each of them deserve our attention and I suppose that we will be back to discussion some of them in the future. For today I think It would be best for our company to stay on production of the new type of lead acid battery, cause on that way we will get more benefits at a lower cost. Well if there is no opposition we will stop here. Now I declare the meeting closed. Thank you all for coming.
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