Exciting things have been happening at Azelis in Asia Pacific over the last 4 years. Building upon a sourcing base established in China for decades, Azelis has expanded rapidly and is now a key player in personal care, food and coatings sales and distribution within the region. Located in brand new headquarters in Shanghai, we are continuing to invest and now have 30 personnel in sourcing, technical and commercial positions. Two new in-house laboratories (one specifically for personal care) are commissioned; We plan further recruitment during 2013 to meet demand. To maintain our closeness to customers, we have just opened a regional office in Guangzhou and we plan to open another in Beijing at the beginning of July. The Company will now further enhance our portfolio of innovative specialties to support the Chinese market in capturing global market trends, improving product safety and quality and delivering superior end product performance.