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TWST: Could you give us a brief overview of National Industri (NATIb.CO), including some of the history and core markets?

Mr. Madsen-Mygdal: Our core business is envelopes. We manufacture and sell envelopes in Denmark. The percentage of exports is around 15%, mostly to Scandinavian countries. We have a printing house specializing in business forms and graphic products. Finally, we have a letter shop business, which is inserting, fulfillment, printing, and data handling. We are also one of the biggest manufacturers of plastic casings for magazines. We have a total of around 250 Million Danish Kroner, and we have a profit of around 12 - 15 million DKK before taxes. Regarding the history of the company, our envelope factory was established in 1898 -- 104 years old -- and then the other businesses began in the beginning of the 1980’s. Currently, we have around 300 employees.

TWST: Is there any growth potential within your local market?

Mr. Madsen-Mygdal: We think there is a growth potential, especially within our letter shop. We are now running a large strategic project in order to develop our three business units, smooth out the synergies, improve our sales forces, and put the customer’s wishes in the center. We wish to do what is best for the customer, and I think in our market, these three products have very often been sold as three different products. We will be able to grow if we can succeed in combining these products, selling solutions and communications packages, and perhaps also adding some IT to the handling of mailings. Things like measuring the response and checking the figures via Extranet where we supply all the data, and also never seeing the coupons or the answers from customers because we handle them and put the results on our Extranet.

TWST: Moving over to your management, can you brief us on your management team and the biggest challenges facing them?

Mr. Madsen-Mygdal: Previously, National Industri was the holding company and there were eight profit centers below. This has led us to much needed optimization, and now we are trying to consolidate into three business units: envelope, graphic, and letter shop. We are trying to motivate our employees by setting targets in order for them to have an interest in selling all the group products, and not only their own company’s products. That is the major change in management which is going on now. The challenge is to now get this re-organization to work.