It is not without pride that we are reporting today on a very special partnership. In 1972, Mr. Rajatham Prasanphanij opened the company P.R. Engineering in Bangkok, Thailand to distribute stressing equipment from Paul. Mr. Rajatham quickly proved to be a successful partner and increased his sales, especially in the 80s and 90s, until the Asian crisis that began in 1997 also hit the Thai business with our partner P.R. Engineering hard. After only a short time, Mr. Rajatham and his business partner Mr. Chaiwat were able to continue the success they had before the crisis.
For 50 years now, both companies have enjoyed a respectful and reliable relationship across half the globe. Reason enough for a meeting at Paul's headquarters to honour this special partnership. We thank P.R. Engineering for the long and good cooperation and wish them continued success in distributing Paul products in Thailand and neighbouring countries in the future.