|
In this issue... New Appointments at Hung Hing HK and Hung Hing UK, Shipping & Factory Updates and further useful information including the Lacey Act...
Leadership Update
The Hung Hing Board recently approved some important top leadership changes. The appointment of Matthew Yum as Executive Chairman and David Eitemiller as Chief Executive Officer is a natural progression in continuing the core values of entrepreneurial spirit and strong operational focus that has made Hung Hing the successful printer we are today.
As Executive Chairman, Matthew will replace Peter Springford as outgoing Chairman. Matthew will have overall responsibility in strategic direction of the company as well as Board, investor and bank relationships. Peter remains on Hung Hing’s board providing a broad wealth of experience in large organization leadership and insights in the paper, packaging and printing industry.
David, as Chief Executive Officer, will have responsibility for the Group's business, execution of strategy, daily operational decision and overall leadership to the organization. Both appointments are effective 1 September, 2010
Hung Hing recently announced our annual results for the year ending March 2010, earning HK$167 million in a year of challenge and uncertainty. Strategic right-sizing and other productivity enhancements helped us mitigate pressures on pricing and margins brought on by the economic downturn.
Organisational Changes at Hung Hing UK
We very pleased to announce, with immediate effect, that Karen Staff has been appointed Account Director at Hung Hing UK. Karen will take overall responsibility for the management and direction of the Account Management team at Hung Hing UK.
Lee Alesbury and Louise Moore start their maternity leave in October and we look forward to welcoming the new arrivals before the New Year. Both will be returning, Louise to her current role and Lee in an Account Management role, as she wants to be able to spend more time with her two children. We are also delighted to announce the appointment of Nicky Gower, who returns at the beginning of September, as our Sales Director. She will have overall responsibility for all sales with Karen Staff and Rob Worley, our New Business Manager, reporting to her.
We hope you will welcome these changes, which we believe will be of benefit to all our customers and further strengthen our commitment to the UK Market.
Responsible Paper Purchasing Policy - Responsible manufacturing practices have always been an important value at Hung Hing. Click Here for a reminder of our purchasing policy.
The Lacey Act - What is the US Lacey Act and why is it important? Click Here for further information and latest updates.
Shipping Updates - Space issues from Asia to Europe have been well publicised recently. This is due in the main to the reduction in vessel capacity but also due to “slow steam” services and container shortages (See this article). This means that even when space is booked, and we would advise to do this as early as you are able, that this will not, unfortunately, 100% guarantee you a container on a vessel. Freight forwarders are working hard on a daily basis to address this – See here Woodland Media for our recommended UK freight forwarder.
Hung Hing Summer Updates 
As we have now entered the summer season we are pleased to see the impact of a number of our preparations for this busy period;
· We have 4 new machines, with the latest in advance colour system, controls, print speed, quality and stability that arrived last month and are now installed in our plants
· Completion of phase 2 of the Heshan plant (pictured above) has added efficiency and capacity to the overall workflow
· Despite the labour shortage, HH has significantly more workers compared to the same period last year, and we are hiring hundreds more every week putting us in a stronger position to meet customer demand
Our new scheduling system is currently being implemented and will help manage capacity and we have also started first phase of a significant review of our technology and supply chain management. We will have more updates on this for you in our next newsletter. |