Spectris aims to deliver shareholder value over the long term by supplying productivity-enhancing solutions for our customers.
Our strategic objectives are to:
Strengthen market positions through innovation
We invest around 6-7% of sales each year in R&D (7% in 2007), with the aim of developing and delivering advanced products and applications to our customers. Working closely with customers, experienced engineers develop solutions which are tailored to the customer’s specific requirements, based on standard platforms customised through high added value applications engineering. This understanding of our customers’ processes brings significant competitive advantage. Much of our technology is proprietary and protected by patents or process know-how. New products and applications may be developed in house, by acquiring bolt-on product lines or by collaboration and licensing agreements for proprietary technology in partnership with universities and other institutions.
Increase regional expansion with the focus on emerging markets
We seek to grow our businesses around the world, with particular emphasis on industrialising markets such as China, India and Latin America. We continue to establish sales and support facilities in these regions so that we are able to support our global customers wherever they are based.
Grow existing businesses through acquisition
We seek to enhance the growth potential of our business by pursuing an active but disciplined approach to bolt-on acquisitions, focusing on businesses which are strong players in specific application areas where there are significant barriers to entry.
Focus on operational excellence
We continue to focus on improving all aspects of our business through a range of actions including: process efficiencies, value pricing, optimising the business mix, cost competitiveness, designing products for low-cost production, reducing inventory and improving supply chain management.
Build our presence in key strategic growth areas, both organically and through acquisition
We aim to grow our businesses by developing new products as well as pursuing opportunities for growth in new markets, such as nanotechnology and life sciences. Our investment in R&D enables us to maintain our leading market positions and acquisitions are targeted at both existing and new markets.