Dear friends,

On behalf of the entire Siveco China team, I would like to wish you and yours a happy and prosperous Year of the Goat!

2014 has been a challenging year for many companies operating in China, partly due to regulatory issues. In the longer term, I believe this is encouraging as more and more companies come to recognize that maintenance, when optimized, can reduce cost and increase profit in hard times. As the concept of "Industry 4.0", initially introduced by European companies facing eroding competitiveness, is becoming popular in China, more and more companies realize that maintenance is at the core of Industry 4.0!

For this reason, 2014 saw our largest R&D investment to date! Our standard ESB (Enterprise Service Bus) bluebee^® sync was released, as well as new versions of bluebee^® Android and bluebee^® cloud, with improved integration with GIS (Geographical Information System) and BIM (Building Information Mode), all developed in Shanghai. Coswin 8i, the latest version of our CMMS, developed by our French R&D unit, was also released. All the new products are already used by many customers all over the country!

2014 also saw an expansion of our export business, especially in Korea, further demonstrating the capability of our team to deliver services outside of China. Our focus will remain on China and "from China" projects: Chinese EPC companies building plants all over the work and industrial clients, with their regional headquarters in China, operating plants all over Asia. We are proud to be the only China-based company with this capability… and we enjoy all the traveling!

In 2014 we also invested a lot in our internal organization, further improving our ISO 9001-compliant processes, in view of getting certified this year. Our last customer satisfaction survey shows good results: 100% agree that the Siveco project fulfilled their needs, while 95% say that our support services fulfill their needs (survey details will be published after Chinese New Year). We are planning our Customer Conference in May 2015, where customers will be able to learn from each other: more information in upcoming newsletters!

As the Year of the Horse, which was also the year of Siveco China's 10th anniversary, comes to an end, I would like to send my best wishes to all our customers and partners! All the best for a happy and prosperous Year of the Goat! May the friendly goat bring you, your companies and your families, good fortune, good health, good luck in 2015!

Bruno Lhopiteau

General Manager

Siveco China