COMPANY NEWS

2010 was a good year for Quadpack. It was a year punctuated with new innovations, new offices, key appointments and a continued growth in sales.

We introduced a number of exciting new products, including the Yonwoo airless syringe, the low-cost airless Econo pack and an easy-fill double tube for dual treatments. These were all showcased at the industry’s major events. As always, we exhibited at Cosmoprof, Cosmetic Business and Cosmeeting and, for the first time, at Make-Up in Paris.

This latter show was part of our new push into colour cosmetics. One of our first major make-up launches caused a small storm among visitors and press: the heated mascara, reinforcing our approach of combining innovation with quality in all areas of our business.

Our penetration into mass and masstige segments is continuing to prove that we can offer competitive and innovative solutions in more price-sensitive areas, while 2010 saw a significant increase in the sales of glass and pumps.

Innovation was top of the agenda in 2010. We were selected to take part in L’Oréal’s inaugural Innovation Forum, while newly-appointed Javier Navia was placed in charge of research and development, complemented by a newly-formed marketing team to enable us to bring innovative products to market more quickly.

In terms of operations, we renewed our ISO certification, completed the roll-out of SAP across all offices and linked everyone with state-of-the-art video conferencing equipment.

We consolidated our presence in Italy, the home of colour cosmetics, through the creation of Quadpack Italy s.r.l. and continue to forge relationships with many private-label manufacturers. We also made significant progress in newer markets such as Scandinavia and the Benelux and we are now increasing our presence in Portugal and the Balkans. Our product portfolio also expanded with the acquisition of Spirit, enabling us to offer complimentary gift and promotional items.

This year, we continue to focus on expansion and innovation. Meanwhile, we will keep informing you of the latest exciting developments as they happen.

Yours faithfully

Tim Eaves, CEO Quadpack Group