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Economic growth in 2003 was penalised by a persistent weakness of the overall international economic outlook, having an effect on the entire weaving sector. In other words, a domestic market that basically remained static, a rise in supply and a reduction in profit margins.

In such a difficult market context, Promatech managed to limit the economic impact of a fall in volumes thanks to the modularity of its own industrial model, not to mention continuous efforts in the search for new solutions and, especially, its ability to reshape its organisation to reflect current economic conditions.

In a global scenario marked by discontinuity and fierce competition, we have brought to play all our innovative and organisational skills to grasp the new market opportunities, at the same time trying to meet our set goals:
- consolidation of our market shares;
- development of foreign markets via the strengthening of local industrial and commercial structures;
- a policy of development aimed at the new Asian markets, thanks to sound synergy capable of maximising the benefits that come from combining 搃nnovation/quality?and 揼rowth potential?in local markets together with the 搇ower costs of the productive factors?
- suitable changes to our internal organisational structure.

2003 produced unexpected situations for us: but these unexpected situations have meant that we have had to abandon our presuppositions and previous certainties, resulting in a truly fertile source of innovation.

And not just product innovation, but also that linked to the efforts made by each and every one of us and by each division to get rid of our preconceptions and assumptions and discover new ways to create value of real worth to the market. We've added some new managers, coming from other sectors, who have added their skills and expertise to that of the company, working together to meet the goal of successful management of the complexities created by the global context.

2004 shows some weak signs of a pick-up in the economy, though there's still a great sense of apprehension, especially in Europe.

Having said that, I should add that the real measure of our ability to produce innovation and success in business will be seen in how we mould and face the future.
The major challenge - and hence the real opportunity - lies in being able to identify and decide what best to do for our company and our customers, with humility and clarity.

Because, knowing what to do best is what makes all the difference in establishing the level of innovation that, when it comes down to it, justifies our very existence.