The Annual General Meeting of NSC Group was held on May 28, 2009 at the company head office in Guebwiller.
 
On this occasion, the President Bruno Ameline informed the shareholders during the meeting of the consequences for the Group of the current economic crisis.
 
Mr. Ameline commented the progression of the operating result of NSC in 2008 at 1.9 M€. He highlighted in particular the strong recovery of NSC Fibre to Yarn, the result of a regular commercial activity over the year and efforts of company restructuration over several years. Furthermore, the turnover as well as the margins of NSC Nonwoven activity have increased. However this improvement has been limited by delay of billing at the end of the year, related to difficulties in financing of clients due to the development of the economic crisis. In contrast, the year 2008 marked a decline in profitability of NSC Packaging, due to the sharp decline in the processing of cardboard for Monomatic and investments undertaken for the future of Pakea in the field of food packaging and palletisers.
 
The resolutions presented to the Assembly have been fully approved, including the payment of a dividend of 2.25 €, which was put into payment from June 19 on.
 
Mr. Ameline expressed in particular an activity estimate worsened for the second half of 2009, extending probably early 2010.