- Two new directors we re appointed to the Board in the second half of the year.
Mr Ian Fraser has more than 25 years experience in executive management positions in the engineering, transport
and manufacturing industries. Mr Glenn Molloy has more than 20 years experience in the plastics industry from the
development and growth of Plaspak, a manufacturer of rigid plastic packaging and components.
- Crevet signed an exclusive five-year agreement with Sinclair Foundry Products,
a subsidiary of the world’s largest cast-iron pipe manufacturer, Saint Gobain of France, to distribute ‘grey water’
Ensign products in Australia and New Zealand. The agreement enables Crevet to replace existing, mature products
with superior and more cost-efficient products, and will enable further penetration of this $100 million market
sector.
- Crevet ceased production of its own metal sewer product and closed the Sale operation.
The agreement with Sinclair Foundry Products provides Crevet with the opportunity to replace the Company’s mature
product range of thick walled sewer pipes with a superior product, improving Crevet’s position in the market in
the long term.
- Significantly lower selling prices across both metal and PVC products, caused
by intense competition, reduced profit margins by more than $3 million.
- Crevet’s plastics division, Crevet PVC Manufacturing, won the 1999 Workplace
Health and Safety Innovation Award, in the category of a medium sized business, for the development of a unique
product to reduce employees’ exposure to dust particles during the manufacture of PVC pipe. This product, together
with changes to the manufacturing environment, not only reduced employee exposure to airborne particles but also
improved the efficiency of the manufacturing process.
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