In recognising what a significant achievement it is to maintain a major position in the timber industry in Australia for over 75 years, we need to acknowledge the outstanding contribution of the Late Conrad Otto. The foresight of the Founder, Mr Georg Berhard (Ben) Otto; the vigilance of Mr Carl Schulz; and the sales skill of Mr M S (Matt) Mathias also warrants our gratitude. Their efforts and those of many others provided a significant platform from which we have been able to expand the business.

In the year 2000 Australian Timbers acquired a Victorian-based company, Timber Panel Products. Timber Panel Products is now a wholly owned subsidiary of Australian Timbers and has provided an avenue to the much larger Victorian market.

In 2004 Australian Timbers acquired a South Australian based manufacturing company, Multifloor Accessories. Multifloor Accessories is now a wholly owned subsidiary of Australian Timbers and has provided an avenue into the manufacturing industry of carpet gripper.

This has given the Directors and management the confidence to strive for even greater achievements and results, now and into the future. Australian Timbers, Timber Panel Products and Multifloor Accessories have been wonderfully supported by a large number of loyal customers and reliable suppliers. Without these the companies would simply not exist today.

There are many aspects that make a company successful over such a long period. While recognising that success is reliant on customers and suppliers, it is the efforts of one's own team that develops and maintains the excellent reputation within the industry. There are many past and present members of Australian Timbers staff whose contribution has been remarkable. In the main, our products, customer base and suppliers are not unique, but our team is: these people create the ultimate differentiation between companies. The shareholders and management may provide the body, but it is staff who continues to provide the heart and soul of the company!

While our history is important, it is our future that is vital. This is true for customers, suppliers, shareholders and staff alike. It would be an unacceptable waste of the efforts of our predecessors if we did not further advance and enhance our invaluable reputation and maximise any opportunity.

I have often heard it said that business these days is far more difficult than in the past. While I concede it might be more complex I believe you can still rely on the Australian Timber's basic principle.

And that is: good old-fashioned customer service.