The Coulson Group of Companies

By Susan Merivirta, Chief Financial OfficerCorporate News

It is very hard to believe that we are nearing the end of the first half of Year 2009. To say it has been challenging would be an understatement. The world had a financial meltdown at the end of the last year, and it is interesting to watch the changes in the way business is transacted since this event happened. Cash management is our total focus. We do not harvest a log that we haven’t got a sale for either as a log or as out-turned lumber. We expect our customers to pay their bills with very short payment terms, and in turn our suppliers expect the same from us. Banks are closely watching the way we perform as a Company and have very little room for “special, uncontrollable” situations. We are challenged daily to do more with less, to survive. While this is not a time for the faint of heart, this is a time that will see a total shift in the way business is transacted in the future. As we saw last month, the world’s financial markets respond very quickly to anything negative or conceived to be negative. Volatility both with foreign exchange rates and the stock market has become the norm.

That all being said, I feel that it is time to talk a little bit about what makes Coulson Group special and why we will survive in a very unstable environment. Our magic is our people – our human resources. It never ceases to amaze me how much people care about the Company. There is a loyalty exhibited by the majority of employees in all the Companies. We feel such a pride in our accomplishments – as we continue to survive while others around us don’t; we continue to find new markets in the world in our core businesses - forestry and air services; we continue to seek new innovative solutions to keep us on the cutting edge of technology. And, we feel hurt and caring for the Company when things don’t go our way.

Let’s all remember what our Core Beliefs and Goals as a Company are.

Our Foundation

Loyalty - Hard Work - Respect

Our Core Beliefs

Leadership – The Boss drives his men; the Leader coaches them. The Boss say, “Go”; the Leader says “Let’s go!”
Winning – Enthusiasm, motivation, and persistence are the greatest assets in the world. They beat money, power and influence.
Success – No success is ever achieved without failure, so use failure as stepping stones instead of stumbling blocks.

The Employees’ Mission

Our mission is to create a safe and respectful workplace where our team can work to achieve Company goals through loyalty, honesty and flexibility.

The Manager’s Misson

To manage with a philosophy of “respect”, creating a team of like-minded people who believe in what they do and work better as a result.

Our Corporate Goals

Safety - Winning with Integrity - Success

June, 2009 Volume 09-146