The Compensation Committee did, however, in light of the issues presented by the economic downturn consider the increased challenge of achieving the overall financial target and the individual objectives set by each senior manager. Even in the midst of these challenging circumstances the Company continued to make progress with its strategic transformation plan by: refocusing on its core businesses through appropriate facility consolidation and capital investment in new and upgraded production technology, significantly reducing the Company’s overall cost structure by eliminating organizational layers and related support personnel as well as other overhead costs, improving the liquidity of the Company and making efforts to address the repayment or refinancing of the Company’s Senior Notes. In this difficult environment, the Company managed to significantly improve its financial performance.
All posts are only my opinion and are not buy or sell recommendation.
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