While entering 2012 cautiously optimistic, PVA has seen consistent YOY sales increases. We've seen growth in many sectors, particularly in consumer products and automotive electronics. Geographically, we have seen stable business in Asia and Europe while encountering a strengthened competitive landscape. Growth has been most predominant in the Americas over the course of the past 12 months. We see business expanding and returning to the Midwest, Mexico, and South America to pinpoint a few bright spots.
As we proceed into 2013 we expect to build on our momentum and trust business to remain strong in North and South America. As assemblies increase in design complexity we see strong demand for highly customized solutions allowing PVA to exploit our strengths in this arena.
Coincidentally, end users are demanding more application expertise and support to optimize their process. This continues to drive regionalization of PVA's support network. In 2013 we will be opening a state of the art facility in Suzhou, China to augment our current facility in Shenzhen. In Europe we plan to add to our resources in the UK and Estonia with a development lab and service hub to be announced shortly in Western Europe. These assets will improve customer access to PVA solutions, support, and parts.
