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&lt;br /&gt; 2010/2011&lt;br /&gt; LARRY PILLARD, CHAIRMAN OF THE BOARD&lt;br /&gt; &lt;br /&gt; An excellent year&lt;br /&gt; for the Group P.6&lt;br /&gt; &lt;br /&gt; &lt;br /&gt; DENNIS J&Ouml;NSSON, CEO TETRA PAK&lt;br /&gt; &lt;br /&gt; Strong development with&lt;br /&gt; a focus on future growth P.12&lt;br /&gt; &lt;br /&gt; JOAKIM ROSENGREN, CEO DELAVAL&lt;br /&gt; &lt;br /&gt; Strenuous efforts successful&lt;br /&gt; in recovering market P.16&lt;br /&gt; &lt;br /&gt; MART TIISMANN, CEO SIDEL&lt;br /&gt; &lt;br /&gt; A steady course in&lt;br /&gt; a volatile market P.20&lt;br /&gt; &lt;br /&gt; Driving&lt;br /&gt; sustainable&lt;br /&gt; innovation&lt;br /&gt; TETRA LAVAL&lt;br /&gt; &lt;br /&gt; TETRA LAVAL INTERNATIONAL S.A.&lt;br /&gt; CASE POSTALE 430&lt;br /&gt; 70, AVENUE G&Eacute;N&Eacute;RAL GUISAN&lt;br /&gt; CH-1009 PULLY, SWITZERLAND&lt;br /&gt; TEL +41 21 729 22 11&lt;br /&gt; FAX +41 21 729 22 88&lt;br /&gt; WWW.TETRALAVAL.COM&lt<a title="TetraLaval2011.pdf page 1" href="http://viewer.zmags.com/publication/cc27c4eb?page=1">2010/2011LARRY PILLARD, CHAIRMAN OF THE BOARDA</a> 2010/2011LARRY PILLARD, CHAIRMAN OF THE BOARDA<a title="TetraLaval2011.pdf page 2" href="http://viewer.zmags.com/publication/cc27c4eb?page=2">TETRA LAVALTETRA LAVAL INTERNATIONAL S.A.CASE </a> TETRA LAVALTETRA LAVAL INTERNATIONAL S.A.CASE <a title="TetraLaval2011.pdf page 3" href="http://viewer.zmags.com/publication/cc27c4eb?page=3">PART 1Annual Report Tetra Laval GroupTetra L</a> PART 1Annual Report Tetra Laval GroupTetra L<a title="TetraLaval2011.pdf page 4" href="http://viewer.zmags.com/publication/cc27c4eb?page=4">TETRA LAVAL IN TWO MINUTESPROTECTS WHAT'S G</a> TETRA LAVAL IN TWO MINUTESPROTECTS WHAT'S G<a title="TetraLaval2011.pdf page 5" href="http://viewer.zmags.com/publication/cc27c4eb?page=5">FILLING MACHINES INSTALLED9,114 &#64257;lling machines </a> FILLING MACHINES INSTALLED9,114 &#64257;lling machines <a title="TetraLaval2011.pdf page 6" href="http://viewer.zmags.com/publication/cc27c4eb?page=6">TETRA LAVAL COMMENTS BY THE CHAIRMAN OF THE BOARD</a> TETRA LAVAL COMMENTS BY THE CHAIRMAN OF THE BOARD<a title="TetraLaval2011.pdf page 7" href="http://viewer.zmags.com/publication/cc27c4eb?page=7">SALES INCREASED FOR DELAVALDURING SECOND HALF OF</a> SALES INCREASED FOR DELAVALDURING SECOND HALF OF<a title="TetraLaval2011.pdf page 8" href="http://viewer.zmags.com/publication/cc27c4eb?page=8">TETRA LAVAL GROUP BOARDSIR KEITH WHITSONA non-</a> TETRA LAVAL GROUP BOARDSIR KEITH WHITSONA non-<a title="TetraLaval2011.pdf page 9" href="http://viewer.zmags.com/publication/cc27c4eb?page=9">KIRSTEN RAUSINGAn alternate Board Member since</a> KIRSTEN RAUSINGAn alternate Board Member since<a title="TetraLaval2011.pdf page 10" href="http://viewer.zmags.com/publication/cc27c4eb?page=10">Tetra Laval GroupSupport functions</a> Tetra Laval GroupSupport functions<a title="TetraLaval2011.pdf page 11" href="http://viewer.zmags.com/publication/cc27c4eb?page=11">TETRA LAVAL IN THE WORLDTETRA PAK </a> TETRA LAVAL IN THE WORLDTETRA PAK <a title="TetraLaval2011.pdf page 12" href="http://viewer.zmags.com/publication/cc27c4eb?page=12">TETRA LAVAL COMMENTS BY THE CEO, TETRA PAKStron</a> TETRA LAVAL COMMENTS BY THE CEO, TETRA PAKStron<a title="TetraLaval2011.pdf page 13" href="http://viewer.zmags.com/publication/cc27c4eb?page=13"> nt withgrowthto 2011. All categories develope</a> nt withgrowthto 2011. All categories develope<a title="TetraLaval2011.pdf page 14" href="http://viewer.zmags.com/publication/cc27c4eb?page=14">TETRA LAVAL COMMENTS BY THE CEO, TETRA PAK</a> TETRA LAVAL COMMENTS BY THE CEO, TETRA PAK<a title="TetraLaval2011.pdf page 15" href="http://viewer.zmags.com/publication/cc27c4eb?page=15">Tetra PakGlobal Leadership Team</a> Tetra PakGlobal Leadership Team<a title="TetraLaval2011.pdf page 16" href="http://viewer.zmags.com/publication/cc27c4eb?page=16">TETRA LAVAL COMMENTS BY THE CEO, DELAVALStrenuo</a> TETRA LAVAL COMMENTS BY THE CEO, DELAVALStrenuo<a title="TetraLaval2011.pdf page 17" href="http://viewer.zmags.com/publication/cc27c4eb?page=17">At DeLaval we are convinced thatbusiness has an </a> At DeLaval we are convinced thatbusiness has an <a title="TetraLaval2011.pdf page 18" href="http://viewer.zmags.com/publication/cc27c4eb?page=18">TETRA LAVAL COMMENTS BY THE CEO, DELAVAL Wh</a> TETRA LAVAL COMMENTS BY THE CEO, DELAVAL Wh<a title="TetraLaval2011.pdf page 19" href="http://viewer.zmags.com/publication/cc27c4eb?page=19">DeLavalGroup Management Team</a> DeLavalGroup Management Team<a title="TetraLaval2011.pdf page 20" href="http://viewer.zmags.com/publication/cc27c4eb?page=20">TETRA LAVAL COMMENTS BY THE CEO, SIDELA ste</a> TETRA LAVAL COMMENTS BY THE CEO, SIDELA ste<a title="TetraLaval2011.pdf page 21" href="http://viewer.zmags.com/publication/cc27c4eb?page=21">mature markets are more about re-engineering exi</a> mature markets are more about re-engineering exi<a title="TetraLaval2011.pdf page 22" href="http://viewer.zmags.com/publication/cc27c4eb?page=22">TETRA LAVAL COMMENTS BY THE CEO, SIDEL</a> TETRA LAVAL COMMENTS BY THE CEO, SIDEL<a title="TetraLaval2011.pdf page 23" href="http://viewer.zmags.com/publication/cc27c4eb?page=23">SidelGroup Leadership Team</a> SidelGroup Leadership Team<a title="TetraLaval2011.pdf page 24" href="http://viewer.zmags.com/publication/cc27c4eb?page=24">TETRA LAVAL INTERNATIONALComments by the Pre</a> TETRA LAVAL INTERNATIONALComments by the Pre<a title="TetraLaval2011.pdf page 25" href="http://viewer.zmags.com/publication/cc27c4eb?page=25">RISK TRANSFER &ndash; SUCCESS-FULLY MANAGING VOLATILIT</a> RISK TRANSFER &ndash; SUCCESS-FULLY MANAGING VOLATILIT<a title="TetraLaval2011.pdf page 26" href="http://viewer.zmags.com/publication/cc27c4eb?page=26">TETRA LAVAL INTERNATIONALgovernance and inter</a> TETRA LAVAL INTERNATIONALgovernance and inter<a title="TetraLaval2011.pdf page 27" href="http://viewer.zmags.com/publication/cc27c4eb?page=27">Tetra Laval InternationalManagementMART</a> Tetra Laval InternationalManagementMART<a title="TetraLaval2011.pdf page 28" href="http://viewer.zmags.com/publication/cc27c4eb?page=28">22PART 2Tetra Laval industry groups42 Th</a> 22PART 2Tetra Laval industry groups42 Th<a title="TetraLaval2011.pdf page 29" href="http://viewer.zmags.com/publication/cc27c4eb?page=29">DrivingsustainableinnovationThere is more to i</a> DrivingsustainableinnovationThere is more to i<a title="TetraLaval2011.pdf page 30" href="http://viewer.zmags.com/publication/cc27c4eb?page=30">TETRA LAVAL CORPORATE STORYDairy hubs incre</a> TETRA LAVAL CORPORATE STORYDairy hubs incre<a title="TetraLaval2011.pdf page 31" href="http://viewer.zmags.com/publication/cc27c4eb?page=31">The results are very encouraging. 350training co</a> The results are very encouraging. 350training co<a title="TetraLaval2011.pdf page 32" href="http://viewer.zmags.com/publication/cc27c4eb?page=32">TETRA LAVAL CORPORATE STORYA</a> TETRA LAVAL CORPORATE STORYA<a title="TetraLaval2011.pdf page 33" href="http://viewer.zmags.com/publication/cc27c4eb?page=33">TETRA PAKDriving sustainable innovation</a> TETRA PAKDriving sustainable innovation<a title="TetraLaval2011.pdf page 34" href="http://viewer.zmags.com/publication/cc27c4eb?page=34">TETRA PAK IN TWO MINUTES NUMBER OF EMPLOYE</a> TETRA PAK IN TWO MINUTES NUMBER OF EMPLOYE<a title="TetraLaval2011.pdf page 35" href="http://viewer.zmags.com/publication/cc27c4eb?page=35">OUR STRATEGIC PRIORITIESWe are developing our ca</a> OUR STRATEGIC PRIORITIESWe are developing our ca<a title="TetraLaval2011.pdf page 36" href="http://viewer.zmags.com/publication/cc27c4eb?page=36">People TETRA PAKDR</a> People TETRA PAKDR<a title="TetraLaval2011.pdf page 37" href="http://viewer.zmags.com/publication/cc27c4eb?page=37">ent to school feedingenriched powder drink distr</a> ent to school feedingenriched powder drink distr<a title="TetraLaval2011.pdf page 38" href="http://viewer.zmags.com/publication/cc27c4eb?page=38">TETRA PAK 2010/2011 IN BRIEFFirst ambient st</a> TETRA PAK 2010/2011 IN BRIEFFirst ambient st<a title="TetraLaval2011.pdf page 39" href="http://viewer.zmags.com/publication/cc27c4eb?page=39">The new TBA 1000 Mid&ndash; making a best-selling milk</a> The new TBA 1000 Mid&ndash; making a best-selling milk<a title="TetraLaval2011.pdf page 40" href="http://viewer.zmags.com/publication/cc27c4eb?page=40">TETRA PAK 2010/2011 IN BRIEFNew school mil</a> TETRA PAK 2010/2011 IN BRIEFNew school mil<a title="TetraLaval2011.pdf page 41" href="http://viewer.zmags.com/publication/cc27c4eb?page=41">Climate awardto Tetra PakIn 2010, Tetra Pak rec</a> Climate awardto Tetra PakIn 2010, Tetra Pak rec<a title="TetraLaval2011.pdf page 42" href="http://viewer.zmags.com/publication/cc27c4eb?page=42">Products&amp; TETRA PAKDRIVING S</a> Products&amp; TETRA PAKDRIVING S<a title="TetraLaval2011.pdf page 43" href="http://viewer.zmags.com/publication/cc27c4eb?page=43">Innovationsolutions. And because less equipmen</a> Innovationsolutions. And because less equipmen<a title="TetraLaval2011.pdf page 44" href="http://viewer.zmags.com/publication/cc27c4eb?page=44">Products&amp;Innovation TETRA PAKDRIVING</a> Products&amp;Innovation TETRA PAKDRIVING<a title="TetraLaval2011.pdf page 45" href="http://viewer.zmags.com/publication/cc27c4eb?page=45">A leap forwardfor integrationLaunched in 2008, </a> A leap forwardfor integrationLaunched in 2008, <a title="TetraLaval2011.pdf page 46" href="http://viewer.zmags.com/publication/cc27c4eb?page=46">Products&amp;Innovation TETRA PAKDRIVING</a> Products&amp;Innovation TETRA PAKDRIVING<a title="TetraLaval2011.pdf page 47" href="http://viewer.zmags.com/publication/cc27c4eb?page=47">Partnership TETRA PAKDRIV</a> Partnership TETRA PAKDRIV<a title="TetraLaval2011.pdf page 48" href="http://viewer.zmags.com/publication/cc27c4eb?page=48">Partnership TETRA PAKDRIVING</a> Partnership TETRA PAKDRIVING<a title="TetraLaval2011.pdf page 49" href="http://viewer.zmags.com/publication/cc27c4eb?page=49">Eco-ef&#64257;cient lid onTetra Top Carton ShotTogeth</a> Eco-ef&#64257;cient lid onTetra Top Carton ShotTogeth<a title="TetraLaval2011.pdf page 50" href="http://viewer.zmags.com/publication/cc27c4eb?page=50">Environm TETRA PAK</a> Environm TETRA PAK<a title="TetraLaval2011.pdf page 51" href="http://viewer.zmags.com/publication/cc27c4eb?page=51">ent &ldquo;Tetra Pak is committed to sustainabledeve</a> ent &ldquo;Tetra Pak is committed to sustainabledeve<a title="TetraLaval2011.pdf page 52" href="http://viewer.zmags.com/publication/cc27c4eb?page=52">Environment </a> Environment <a title="TetraLaval2011.pdf page 53" href="http://viewer.zmags.com/publication/cc27c4eb?page=53">WHY CO REDUCTION 2I</a> WHY CO REDUCTION 2I<a title="TetraLaval2011.pdf page 54" href="http://viewer.zmags.com/publication/cc27c4eb?page=54">Environment </a> Environment <a title="TetraLaval2011.pdf page 55" href="http://viewer.zmags.com/publication/cc27c4eb?page=55">SIDELDriving sustainable innovation</a> SIDELDriving sustainable innovation<a title="TetraLaval2011.pdf page 56" href="http://viewer.zmags.com/publication/cc27c4eb?page=56">SIDEL IN TWO MINUTES NUMBER OF EMPLOYEES 2</a> SIDEL IN TWO MINUTES NUMBER OF EMPLOYEES 2<a title="TetraLaval2011.pdf page 57" href="http://viewer.zmags.com/publication/cc27c4eb?page=57">CUSTOMERSOur customers come from all parts of th</a> CUSTOMERSOur customers come from all parts of th<a title="TetraLaval2011.pdf page 58" href="http://viewer.zmags.com/publication/cc27c4eb?page=58">PeopleSIDELDRIVING SUSTAINABLE INNOVATIONFun</a> PeopleSIDELDRIVING SUSTAINABLE INNOVATIONFun<a title="TetraLaval2011.pdf page 59" href="http://viewer.zmags.com/publication/cc27c4eb?page=59">HOW IS AN IDEA TRANSLATEDINTO A DESIGN?The desi</a> HOW IS AN IDEA TRANSLATEDINTO A DESIGN?The desi<a title="TetraLaval2011.pdf page 60" href="http://viewer.zmags.com/publication/cc27c4eb?page=60">SIDEL 2010/2011 IN BRIEFLarge gripfor consumer</a> SIDEL 2010/2011 IN BRIEFLarge gripfor consumer<a title="TetraLaval2011.pdf page 61" href="http://viewer.zmags.com/publication/cc27c4eb?page=61">Showroom with aspotlight on packagesEach year, </a> Showroom with aspotlight on packagesEach year, <a title="TetraLaval2011.pdf page 62" href="http://viewer.zmags.com/publication/cc27c4eb?page=62">SIDEL 2010/2011 IN BRIEFMod</a> SIDEL 2010/2011 IN BRIEFMod<a title="TetraLaval2011.pdf page 63" href="http://viewer.zmags.com/publication/cc27c4eb?page=63">Bottle shape constraints related to the choice of</a> Bottle shape constraints related to the choice of<a title="TetraLaval2011.pdf page 64" href="http://viewer.zmags.com/publication/cc27c4eb?page=64">Products&amp;SIDELDRIVING SUSTAINABLE INNOVATION</a> Products&amp;SIDELDRIVING SUSTAINABLE INNOVATION<a title="TetraLaval2011.pdf page 65" href="http://viewer.zmags.com/publication/cc27c4eb?page=65">Innovation&ldquo;We chose the Sidel Combi for the gua</a> Innovation&ldquo;We chose the Sidel Combi for the gua<a title="TetraLaval2011.pdf page 66" href="http://viewer.zmags.com/publication/cc27c4eb?page=66">Products&amp;InnovationSIDELDRIVING SUSTAINABLE INN</a> Products&amp;InnovationSIDELDRIVING SUSTAINABLE INN<a title="TetraLaval2011.pdf page 67" href="http://viewer.zmags.com/publication/cc27c4eb?page=67">Rollsleeve </a> Rollsleeve <a title="TetraLaval2011.pdf page 68" href="http://viewer.zmags.com/publication/cc27c4eb?page=68">Products&amp;InnovationSIDELDRIVING SUSTAINABLE INN</a> Products&amp;InnovationSIDELDRIVING SUSTAINABLE INN<a title="TetraLaval2011.pdf page 69" href="http://viewer.zmags.com/publication/cc27c4eb?page=69">PartnershipSIDELDRIVING SUSTAINABLE INNOVATION</a> PartnershipSIDELDRIVING SUSTAINABLE INNOVATION<a title="TetraLaval2011.pdf page 70" href="http://viewer.zmags.com/publication/cc27c4eb?page=70">PartnershipSIDELDRIVING SUSTAINABLE INNOVATION</a> PartnershipSIDELDRIVING SUSTAINABLE INNOVATION<a title="TetraLaval2011.pdf page 71" href="http://viewer.zmags.com/publication/cc27c4eb?page=71">Packaging iscrucial to brand imagePatrick Etes</a> Packaging iscrucial to brand imagePatrick Etes<a title="TetraLaval2011.pdf page 72" href="http://viewer.zmags.com/publication/cc27c4eb?page=72">EnvironmSIDELDRIVING SUSTAINABLE INNOVATIONLi</a> EnvironmSIDELDRIVING SUSTAINABLE INNOVATIONLi<a title="TetraLaval2011.pdf page 73" href="http://viewer.zmags.com/publication/cc27c4eb?page=73">entImproved recyclingwith SafeSense bottleLig</a> entImproved recyclingwith SafeSense bottleLig<a title="TetraLaval2011.pdf page 74" href="http://viewer.zmags.com/publication/cc27c4eb?page=74">EnvironmentSIDELDRIVING SUSTAINABLE INNOVATION</a> EnvironmentSIDELDRIVING SUSTAINABLE INNOVATION<a title="TetraLaval2011.pdf page 75" href="http://viewer.zmags.com/publication/cc27c4eb?page=75">DELAVALDriving sustainable innovation</a> DELAVALDriving sustainable innovation<a title="TetraLaval2011.pdf page 76" href="http://viewer.zmags.com/publication/cc27c4eb?page=76">DELAVAL IN TWO MINUTES NUMBER OF EMPLOYEES 2</a> DELAVAL IN TWO MINUTES NUMBER OF EMPLOYEES 2<a title="TetraLaval2011.pdf page 77" href="http://viewer.zmags.com/publication/cc27c4eb?page=77">QUALITYWe have a strong and long commitment to c</a> QUALITYWe have a strong and long commitment to c<a title="TetraLaval2011.pdf page 78" href="http://viewer.zmags.com/publication/cc27c4eb?page=78">PeopleDELAVALDRIVING SUSTAINABLE INNOVATIONC</a> PeopleDELAVALDRIVING SUSTAINABLE INNOVATIONC<a title="TetraLaval2011.pdf page 79" href="http://viewer.zmags.com/publication/cc27c4eb?page=79">Luxury and sustainabilitywith DeLaval</a> Luxury and sustainabilitywith DeLaval<a title="TetraLaval2011.pdf page 80" href="http://viewer.zmags.com/publication/cc27c4eb?page=80">PeopleDELAVALDRIVING SUSTAINABLE INNOVATIONKi</a> PeopleDELAVALDRIVING SUSTAINABLE INNOVATIONKi<a title="TetraLaval2011.pdf page 81" href="http://viewer.zmags.com/publication/cc27c4eb?page=81">DELAVAL 2010/2011 IN BRIEFSmart Farminggreat</a> DELAVAL 2010/2011 IN BRIEFSmart Farminggreat<a title="TetraLaval2011.pdf page 82" href="http://viewer.zmags.com/publication/cc27c4eb?page=82">DELAVAL 2010/2011 IN BRIEFLaunch of Cow </a> DELAVAL 2010/2011 IN BRIEFLaunch of Cow <a title="TetraLaval2011.pdf page 83" href="http://viewer.zmags.com/publication/cc27c4eb?page=83">Heavy-duty projectachievementsIn 2010 DeLaval </a> Heavy-duty projectachievementsIn 2010 DeLaval <a title="TetraLaval2011.pdf page 84" href="http://viewer.zmags.com/publication/cc27c4eb?page=84">Products&amp;DELAVALDRIVING SUSTAINABLE INNOVATION</a> Products&amp;DELAVALDRIVING SUSTAINABLE INNOVATION<a title="TetraLaval2011.pdf page 85" href="http://viewer.zmags.com/publication/cc27c4eb?page=85">InnovationAnd more volume means more incomefor </a> InnovationAnd more volume means more incomefor <a title="TetraLaval2011.pdf page 86" href="http://viewer.zmags.com/publication/cc27c4eb?page=86">Products&amp;InnovationDELAVALDRIVING SUSTAINABLE I</a> Products&amp;InnovationDELAVALDRIVING SUSTAINABLE I<a title="TetraLaval2011.pdf page 87" href="http://viewer.zmags.com/publication/cc27c4eb?page=87">are a main aim of the system, AMRTM canalso help</a> are a main aim of the system, AMRTM canalso help<a title="TetraLaval2011.pdf page 88" href="http://viewer.zmags.com/publication/cc27c4eb?page=88">Products&amp;InnovationDELAVALDRIVING SUSTAINABLE I</a> Products&amp;InnovationDELAVALDRIVING SUSTAINABLE I<a title="TetraLaval2011.pdf page 89" href="http://viewer.zmags.com/publication/cc27c4eb?page=89">herds, increase milk yields and reducingenvironm</a> herds, increase milk yields and reducingenvironm<a title="TetraLaval2011.pdf page 90" href="http://viewer.zmags.com/publication/cc27c4eb?page=90">PartnershipDELAVALDRIVING SUSTAINABLE INNOVATIO</a> PartnershipDELAVALDRIVING SUSTAINABLE INNOVATIO<a title="TetraLaval2011.pdf page 91" href="http://viewer.zmags.com/publication/cc27c4eb?page=91">and Service program,&rdquo; says S&ouml;ren Lundin.Some of </a> and Service program,&rdquo; says S&ouml;ren Lundin.Some of <a title="TetraLaval2011.pdf page 92" href="http://viewer.zmags.com/publication/cc27c4eb?page=92">PartnershipDELAVALDRIVING SUSTAINABLE INNOVATIO</a> PartnershipDELAVALDRIVING SUSTAINABLE INNOVATIO<a title="TetraLaval2011.pdf page 93" href="http://viewer.zmags.com/publication/cc27c4eb?page=93">EnvironmentDELAVALDRIVING SUSTAINABLE INNOVATI</a> EnvironmentDELAVALDRIVING SUSTAINABLE INNOVATI<a title="TetraLaval2011.pdf page 94" href="http://viewer.zmags.com/publication/cc27c4eb?page=94">EnvironmentDELAVALDRIVING SUSTAINABLE INNOVATI</a> EnvironmentDELAVALDRIVING SUSTAINABLE INNOVATI<a title="TetraLaval2011.pdf page 95" href="http://viewer.zmags.com/publication/cc27c4eb?page=95">After six months, the adviser comesback again. </a> After six months, the adviser comesback again. <a title="TetraLaval2011.pdf page 96" href="http://viewer.zmags.com/publication/cc27c4eb?page=96">TETRA LAVALTETRA LAVAL INTERNATIONAL S.A.CASE </a> TETRA LAVALTETRA LAVAL INTERNATIONAL S.A.CASE