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Workplace safety is always the bellwether of well-run plants. Last year we achieved our sixth consecutive year of
improvements in our health
and safety record, with a 14.8% decline in lost time accidents. In 2006, our Roanoke and Central Bakery operations
received the CEO Gold Award for operating 1,000,000 hours without a lost time injury, joining seven other plants which
have received this award since 2001 when the award was first introduced. Four plants received the CEO Silver Award in
2006 for operating 350,000 hours without a lost time injury. In total, 47 plants have received this award since 2001.
Congratulations to everyone involved for your personal engagement and commitment to workplace safety leadership!
In summary, our protein business detracted from shareholder value over the past three years, as currency evaporated
competitive advantage. Through it all, the steady hand and strong contribution of our Bakery Products Group and
value-added meats businesses stabilized our financial performance. A strategy of "hope" would not suffice. In 2006,
we faced this challenge head on. We believe, when complete, we will
be that globally admired value-added meats, meals and bakery company we aspire to be; a simpler, more focused
organization, considerably more profitable with lower volatility, less exposure to currency, higher growth rates,
more innovation, stronger brands and ultimately more in control of our own destiny, in short, a Renaissance!
Our foundation to accomplish this? Great people and discipline! We are well accustomed to change and we have the
organizational depth to achieve our goals. In 2007 we are aggressively working that plan.
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