FROM: Ben Russell, CEO
TO: All Divisional Managers
SUBJECT: STAR Industries - Diversification and Expansion Plans
As most of you would already be aware, STAR Industries is currently undergoing a program of product diversification and expansion. This program requires a much more responsive and sophisticated approach to the way we manage this business.
Our current business strategies are beginning to bear fruit, and our position within the Australian marketplace gets stronger with each month's sales figures. We cannot, however, afford to stand still and let the others catch up.
We are extremely excited about the potential expansion of our product range in both awnings and the installation service, but the success of these plans will rely heavily on the effectiveness of our information, capital and people asset management.
I cannot stress enough the importance of ensuring timely, accurate and appropriate information flows within the organisation. Whether it is managing financials, our physical assets, our suppliers, our customers or our staff, we are going to need to work harder and be smarter if we are to remain competitive and achieve our company mission to be the leading quality supplier of door and window products.
Looking further ahead, our market research tells us that there are huge opportunities for our company to expand its operations into South East Asia, initially in sales and distribution, with a manufacturing facility to possibly follow.
Although we expect to fund the awning product expansion from reserves, other expansion projects such as the move into South East Asia may well necessitate some level of external capital raising. We may seek to secure this additional capital through listing on the Australian Stock Exchange. However this is done, we must be in a position to provide detailed, comprehensive and transparent information to potential investors.
I will be briefing each of you individually in the coming weeks on the key areas I will need you to address in your various divisions to keep STAR Industries moving forward.
Ben Russell
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