I am delighted to be reporting on the significant progress that Frigoglass made in 2010, which built strongly on the decisive platforms laid down during the challenges of the global economic downturn.
The financial crisis that took hold at the end of 2008 significantly altered the global macroeconomic landscape in which Frigoglass had been operating. Whilst higher growth emerging markets maintained their positive momentum, Europe experienced a severe downturn, which translated into a significant change in the scale and mix of the capex plans of our customers.
