As we conclude 2011, PVA comes off of our two most successful years in company history. We have hired aggressively during the past 12 months, increasing our work force by over 30%.
PVA has also looked to the future, not only by introducing a myriad of new products that better position ourselves as technology leaders in the market, but by vertically integrating our manufacturing process to remain increasingly competitive globally. This will translate into shortened lead times and more assertive pricing strategies for 2012.
As we have taken these steps to position ourselves for 2012 and beyond, PVA does plan on expanding into new markets globally. Much of our growth during the past two years has been predicated on pursuing business with additional regional sales and service centers. This has led to a resurgence in North American markets, Europe, and greater service throughout Asia.
PVA doubled our investment in Europe in 2011 and we expect to do the same in 2012. Europe remains our most stable and highest growth market since 2010 and we continue to see tremendous growth opportunities throughout the continent. Our most substantial logistical and personnel investments in 2012 will be there.
At PVA we are cautiously optimistic that 2012 will continue to see moderate growth in the electronics industry. Our key is best positioning ourselves with the products, service, and personnel to take advantage of these opportunities and continue on our track of success.
