8/9/2019 HCPED Annual Report 2013-14

1/20

8/9/2019 HCPED Annual Report 2013-14

2/20= | GKSLN

Ot os S@EKL, plrfeilit pbsotobi oi mbtg tgl sbkoe` ein

tbpbdrepgoke` slisl, tget dovls us bur onlitoty.

J.M. Jekasbi, Nos kbvlroid tgl Xlrieku`er @einskepl

8/9/2019 HCPED Annual Report 2013-14

3/20E] 5;5> | ;

LWLK\^OXL KBFFO^^LL

IE^G EI ALIILN_, Kgeor, Horst Kotozlis Meia

KGOS DB\@N, Sest Kgeor, Kesbi Kbfpeiols

NEXLFBNEHH, Kgeor L`lkt, Hroney [tehhoid [lrvoklsENEF[GLE@_, ^rlesurlr, ^gl Xei Toia`l @ew Horf

SL^L[ZL@TEKG, Lxosotoid Oinustry, K`lflit Seppes

TO@ @M\OL, Srbnukt Nlvl`bpflit, TD@E Lidoillroid

AL@@_@LBIE]N, Mbern Nlvl`bpflit,Kerb`oie E``oeikl Meia

L@LK^LN NO]LK^B][

FOA LE]F[^]BID, DL @odgtoid [b`utobis

^BFKBBSL], Kbbplr Kbistruktobi Kbfpeiy

K]EODNLM]L T, Nual Lilrdy

JOFGE@ @,Oivlstbrs ]le`ty Drbup

NBIGE@ @OID[L, S[IK Lilrdy

MO@ @GE] ]O [,OFBKB

AE^G _GB_@L, Gby`l Bhhokl [b`utobis

@EXB_[SBBIL], E^&^

ESSBOI^LN NO]LK^B][

JOF]E[F\[ [LI, Fbrrbw Oisureikl Edliky, Oik.

SE^TEDIL], Kbitoilite`

LW-BHHOKOB NO]LK^B][

KGEO]FEIL]XOIMEZ Z@L,Glinlrsbi Kbuity Mbern bh Lnuketobi

KB\IKO@FEIG\DGK@E]A, ^bwi bh H`ltkglr

FE_B]@E] ]_H]LLFEI, ^bwi bh Fo``s ]ovlr

KGEO]FEIKGE]@OLFL[[L],Glinlrsbi Kbuity Mbern bh Kbffossobilrs

FE_B]KE] L_BKEO I, ^bwi bh @eurl` Sera

N]. FB@@_SE] AGO@ @, M`ul ]ondl Kbffuioty Kb``ldl

FE_B]MBM[^E^BI,Xo``edl bh H`et ]bka

FE_B]ME] ME ]EXB@A,Koty bh Glinlrsbivo``l

[^EHH

M]O^^EI_M]EN_, Norlktbr bh Feraltoid

JB[G GE@ @OID[L, Norlktbr bh Oinustry ]l`etobis

EIN]LT E^L, Srlsonlit & KLB

^gl Glinlrsbi Kbuity Sert-ilrsgop hbr Lkbibfok Nlvl`-bpflit os ei lxklptobie`brdeiozetobi kbffottln tb prb-tlktoid tgl feiuhekturoid essltswlvl mlli em`l tb slkurl tgrbudgtgl ylers, wgo`l feoiteoi-oid hbkusln ettlitobi bi huturl

drbwtg. Glinlrsbi Kbuitysvomreit feiuhekturoid oinustryos `erdl`y rlspbisom`l hbr tgl suk-klss bh bur @BKE@ lkbibfy oirlklit ylers. Mlsonls tgl lfp`by-

flit bh bvlr

Horst Kotozlis Meia

8/9/2019 HCPED Annual Report 2013-14

4/20> | GKSLN

Kbitoilite` Eutbfbtovl [ystlfs, Oik. ges mlkbfl e hoxturl oiGlinlrsbi Kbuity. @bketln et Bil Uue`oty Tey, H`ltkglr, tglmreal ke`oplr feiuhekturlr ges kbisostlit`y ennln lfp`byflitiufmlrs tgrbudg tgl ylers. Oi Ju`y bh =35;, tgl kbfpeiy kbffot-tln tb krletoid >3 ilw jbms ein lxpeinoid tgl lxostoid hbbtproitmy 77,333 squerl hllt, mroidoid tbte` lfp`byflit iufmlrs tbfbrl tgei 883 wotg evlredl wedls lxkllnoid $>3,333 eiiue``y

^gl lxpeisobi wes prbfptln my tgl prbnuktobi bh tgl ilw l`lk-

trbiok peraoid mreal systlf. ^gl systlf os oitldretln wotg tglmreal ke`oplr ein os bplretln wotg tgl tbukg bh e muttbi oistlen be peraoid mreal lvlr. gl ilw tlkgib`bdy feals hbr e sehlr vlgo-k`l, es pert bh Kbitoilite`s kbffotflit tb [ehlty hbr Lvlrybil

8/9/2019 HCPED Annual Report 2013-14

5/20E] 5;5> | , tgl kbfpeiy bhhokoe``y bpliln tgl lxpei-sobi wotg e drein bplioid kl`lmretobi. Set FkKrbry, Dbvlribr

bh Ibrtg Kerb`oie, wes oi ettlineikl es Kbitoilite` lfp`byllsein kbffuioty `lenlrs bhhokoe``y kut tgl rommbi tb kl`lmretl tgllxpeisobi ein lfp`byflit drbwtg.

Jlhh [kbttXokl Srlsonlit, Kbitoilite`

8/9/2019 HCPED Annual Report 2013-14

6/20

E[D (EDO [gbrlwbbn), ei oiibvetovl d`bme` pekaedoid feiuhekturlr`bketln oi Lest H`et ]bka, eiibuikln p`eis tb enn . ^gl lxpeisobi wes e rlh`lktobi bh tgl kbfpeiys hbkus bi steyoidkbfpltotovl, ein lhhokolit`y ho``oid kustbflr nlfein ekrbss prbnukt p`et-

hbrfs. ^gl kbfpeiy prbnukls pekaedoid prbnukts hbr feralt sldflitsoik`unoid litlrteoiflit, plrsbie` kerl, gle`tg kerl ein pgerfeklutoke`

^gl ilw pbsotobis wo`` gevl evlredl wedls lxkllnoid $>3,333 plr yler,surpessoid tgl kbuitys eiiue` evlredl bh $;>,,

8/9/2019 HCPED Annual Report 2013-14

7/20E] 5;5> | 4

Oi =338, Glinlrsbi Kbuitywl`kbfln Dlrfei-mesln fei-uhekturlr, L`aeflt. ^gl kbf-peiy `bketln tb tgl Lest H`et]bka kbffuioty bi ioil ekrlsbh tgl hbrflr Heordrbuins, bhhFo``s [trllt. Bikl tgly wlrlbpli hbr musoilss, tgly mldeifeiuhekturoid p`estok-rl`etlnprbnukts tb suppbrt tgl eutbfb-tovl oinustry. My =35;, tgl kbf-peiy gen nbum`ln tgl hbbtproitbh tglor muo`noid, novlrsoholntgl feralts ein kustbflrs tglyslrvln, ein oi lhhlkt nbum`lntglor wbrahbrkl.

Oi Ferkg bh =35>, tgl kbf-peiy eiibuikln p`eis hbr lxpeisobi, bikl edeoi.^gl eiibuiklflit wbu`n enn 5

8/9/2019 HCPED Annual Report 2013-14

8/207 | GKSLN

^gl =35> Oinustroe` Lxlkutovls Hbruf tbba p`ekl bi Epro` =?tg et M`ul ]ondl Kbffuioty Kb``ldl, prbvonoid oinustry

`lenlrs tgl bppbrtuioty tb lxp`brl ilw musoilss bppbrtuiotols, `leri mlst prektokls hrbf tglor pllrs ein gler ei lxostoidoinustry upnetl. ^gl edline hbr tgl lvlit wes krletln my tgl Lxostoid Oinustry Kbffottll. ^gl lvlit wes gbstln hrll hbrflfmlrs ein feiuhekturlrs tgeias tb tgl dlilrbus suppbrt bh Setrbi Flfmlrs.

OIN\[^]OE@ LWLK\^OXL[ HB]\F

^ulsney, Epr o` =?, =35>

M`ul ]ondl Kbffuioty Kb``ldl^lkgib`bdy, Lnuketobi & Nlvl`bpflit Klitlr

[KGLN\@L

7:33 ef 7:>< ef Iltwbraoid

7:>< ef ?:33 ef Tl`kbfl

Fenl oi Glinlrsbi Kbuity Xonlb & \pnetl

?:33 ef 53:33 ef IK Nlpertflit bh Kbfflrkl Oitlrietobie` ^renl

Oitrbnuktobi my ]lprlslitetovl Kguka FkDreny

Jbgi @byeka & @oz Os`ly bh

IK Kbfflrkl Oitlrietobie` ^renl?:

8/9/2019 HCPED Annual Report 2013-14

9/20E] 5;5> | ?

gl Gostbrok ]udmy Dreidl os e tlsteflittb tgl ofpbrteikl bh S@EKL. ^gl

Tlsthl`nts lstem`osgln e gbfl ein e `erdl

herf tget gl`pln drbw tgl kbffuioty

ein lxpein bppbrtuioty. [bfl 5

8/9/2019 HCPED Annual Report 2013-14

10/20

gl horst Fenl oi Glinlrsbi Kbuity lvlit O ettlinln wes et Flrotbr. Tgli O errovln et tgl heko`oty,O wes drlltln my Jlrlfoeg Sbinlr. Jlrlfoegs nen usln tb wbra hbr fl. Ot rlfoinln fl wgy wl nb wget

wl nb et tgl Sertilrsgop. O wes em`l tb sll bur wbra kbfl hu`` kork`l, rlkruotoid e kbfpeiy ;3 ylers edb

tget ibw lfp`bys e Glinlrsbi Kbuity ietovl. ^gos lhhbrt os ibt just embut sgbwoid aons kerllrs,

ot os embut krletoid e p`ekl hbr tglf tb kbfl GBFLtb.

Kgop Dbu`n, GKSLN Mbern Flfmlr

gl horst Fenl oi Glinlrsbi Kbuity lvlit O ettlinln wes et Flrotbr. Tgli O errovln et tgl heko`oty,O wes drlltln my Jlrlfoeg Sbinlr. Jlrlfoegs nen usln tb wbra hbr fl. Ot rlfoinln fl wgy wl nb wget

wl nb et tgl Sertilrsgop. O wes em`l tb sll bur wbra kbfl hu`` kork`l, rlkruotoid e kbfpeiy ;3 ylers edb

tget ibw lfp`bys e Glinlrsbi Kbuity ietovl. ^gos lhhbrt os ibt just embut sgbwoid aons kerllrs,

ot os embut krletoid e p`ekl hbr tglf tb kbfl GBFLtb.

53 | GKSLN 5;5>

8/9/2019 HCPED Annual Report 2013-14

11/20

Hbr twb ylers, tgl Glinlrsbi Kbuity Sertilrsgop hbr Lkbibfok Nlvl`-bpflit ku`tovetln e rl`etobisgop ein e p`ei wotg tgl Glinlrsbi KbuitySum`ok [kgbb`s. Ehtlr lkgboid krols hrbf oinustry embut wbrahbrkl wbls,e rle`ozetobi tget skgbb`s ein oinustry illnln tb kbiilkt mlkefl epper-lit. ^gl kefpeodi mldei my flltoid wotg lnuketbrs ein kbuisl`brs tb

sgerl wget bppbrtuiotols wlrl eveo`em`l oi Glinlrsbi Kbuity ein `leritgl mlst wey tb sgbwkesl feiuhekturoid es e kerllr tb stunlits. Fbrlfeiuhekturlrs mlkefl ewerl bh gbw tgly kbu`n pertilr wotg tgl skgbb`systlf ein sbbi mldei bplioid tglor nbbrs wotg tgl horst bhhokoe` stunlittburs teaoid p`ekl bi Bktbmlr >, =35;, Ietobie` Feiuhekturoid Ney.

My tgl sproid slflstlr, tgl Sertilrsgop gen `euikgln e wlm pedl,FenloiGlinlrsbiKbuity.kbf ein nlvl`bpln e feraltoid p`ei hbr tglrlst bh tgl yler. My pertilroid wotg ]udmy Fonn`l [kgbb`s 7tg Drenl

Kerllr k`essls, GKSLN stehh wlrl em`l tb nlvl`bp e vonlb tb prbfbtljbms oi Glinlrsbi Kbuity es wl`` es nlsodi Fenl oi Glinlrsbi

Kbuity t-sgorts, prbvonln tb stunlits hbr tgl Epro` ?tg tburs.

* 533% bh fonn`l, godg skgbb`s, e`sboik`unls Me`hbur ein ler`y kb``ldl

** [oikl Epro` 7,=35>

*** 533% bh K^L tlekglrs & duoneiklkbuisl`brs

== S`eiiln oitlrektobis wotg A-5=

7 Oinustry `uikglbis wotg tlekglrsein duoneikl kbuisl`brs

5> [tunlit tbur bppbrtuiotols

8/9/2019 HCPED Annual Report 2013-14

12/205= | GKSLN

gos wgb`l erleybu fodgt sey, tgossonl bh tgl trekaswes rlnlvl`bpln

nlkenls edb. ]ey Evliul mlkefl

Brob`l Nrovl ekrbss tgl treka. Tl

tbba tget iefl, `lttoid butsonlrs

tgoia tgl koty gen iefln tgl

strllt ehtlr tgl fo``. Horst kefl tglS@EKL, tgli kefl tgl iefl.

Fenl Oi Glinlrsbi Kbuity kefl tb `ohl `etl oi tgl yler=35=. Es tgl kefpeodi wotg tgl Glinlrsbi Kbuity [kgbb`[ystlf mlkefl e rle`oty, tgl onle mldei tb teal sgepl einfbrl plbp`l wlrl essbkoetoid feiuhekturoid wotg lnuketobi

oi Glinlrsbi Kbuity. b rloihbrkl tgl Sertilrsgops lhhbrts tb oikrlesl tgl vosomo`otybh feiuhekturoid, tgl eiiue` noiilr lvlit wes gbstln et tgl Brob`l Fo``. ^gl vliule``bwln dulsts tb sll e feiuhekturoid heko`oty oi prbnuktobi, tb sll tgl hoiosgln prbn-ukts, ein u`tofetl`y ot mrbudgt tgl Fenl oi Glinlrsbi Kbuity kbiklpt tb `ohl.

Bi Bktbmlr 54, =35;, tgl Brob`l Fo`` bpliln ots nbbrs tb gbst Fenl oi GlinlrsbiKbuity, tgl =35; GKSLN eiiue` lvlit. ^gl fo``, `bketln bi Brob`l Nrovl oi Glinlr-sbivo``l, krletls `uxury, que`oty Jekquern ein Nbmmy wbvli tlxto`ls. Es dulsts errovln,

tgly wlrl tburln erbuin tgl heko`oty my Brob`l Fo`` lfp`bylls. ^gl tbur sgbwkeslntgl nohhlrlit perts bh prbnuktobi es wl`` es nostromutobi ein wglrl kbisuflrs kei muyprbnukts `bke``y. Ehtlr e tbur, dulsts wlrl em`l tb iltwbra ein noil.

Ehtlr noiilr, bwilrs [tlpgei Fokgl`sbi ein Mltgeiil Aiunsbi hbrfe``y wl`kbflntgl drbup ein sgerln tglor mekadrbuin ein gbw tgl Brob`l Fo`` kefl tb ml bketln oiGlinlrsbi Kbuity oi =338. ^gos wgb`l erleybu fodgt sey, tgos sonl bh tgl trekas

wes rlnlvl`bpln nlkenls edb. ]ey Evliul mlkefl Brob`l Nrovl ekrbss tgl treka. Tltbba tget iefl, `lttoid butsonlrs tgoia tglkoty gen iefln tgl strllt ehtlr tgl fo``. Horstkefl tgl p`ekl, tgli kefl tgl iefl, stetln[tlpgei Fokgl`sbi. ^biy E`flone, hbrflr

envoslr hbr jbms ein tgl lkbibfy uinlr Dbvlr-ibr Set FkKrbry, tgli prbvonln ei lkbibfokbut`bba hbr tgl [tetl bh Ibrtg Kerb`oie. ^glSertilrsgop rlkbdiozln tgl Ibrtg Kerb`oieNlpertflit bh ^reispbrtetobi, Novosobi 5>es Sertilr bh tgl _ler hbr tglor suppbrt einslrvokl tb que`oty jbm krletobi ein lkbibfoknlvl`bpflit. Sltl [zl`wekg bh K`lflit Sep-pes wes gbibrln wotg tgl Kgeorfeis Ewernhbr gos `lenlrsgop oi lxp`broid tgl sao``s depkge``lidl, ein wbraoid tb mlttlr kbiilktfeiuhekturoid ein tgl skgbb` systlf.

[tlpgei Fokgl`sbiBrob`l Fo``

gos wgb`l erleybu fodgt sey, tgossonl bh tgl trekaswes rlnlvl`bpln

nlkenls edb. ]ey Evliul mlkefl

Brob`l Nrovl ekrbss tgl treka. Tl

tbba tget iefl, `lttoid butsonlrs

tgoia tgl koty gen iefln tgl

strllt ehtlr tgl fo``. Horst kefl tglS@EKL, tgli kefl tgl iefl.

Fenl Oi Glinlrsbi Kbuity kefl tb `ohl `etl oi tgl yler=35=. Es tgl kefpeodi wotg tgl Glinlrsbi Kbuity [kgbb`[ystlf mlkefl e rle`oty, tgl onle mldei tb teal sgepl einfbrl plbp`l wlrl essbkoetoid feiuhekturoid wotg lnuketobi

oi Glinlrsbi Kbuity. b rloihbrkl tgl Sertilrsgops lhhbrts tb oikrlesl tgl vosomo`otybh feiuhekturoid, tgl eiiue` noiilr lvlit wes gbstln et tgl Brob`l Fo``. ^gl vliule``bwln dulsts tb sll e feiuhekturoid heko`oty oi prbnuktobi, tb sll tgl hoiosgln prbn-ukts, ein u`tofetl`y ot mrbudgt tgl Fenl oi Glinlrsbi Kbuity kbiklpt tb `ohl.

Bi Bktbmlr 54, =35;, tgl Brob`l Fo`` bpliln ots nbbrs tb gbst Fenl oi GlinlrsbiKbuity, tgl =35; GKSLN eiiue` lvlit. ^gl fo``, `bketln bi Brob`l Nrovl oi Glinlr-sbivo``l, krletls `uxury, que`oty Jekquern ein Nbmmy wbvli tlxto`ls. Es dulsts errovln,

tgly wlrl tburln erbuin tgl heko`oty my Brob`l Fo`` lfp`bylls. ^gl tbur sgbwkeslntgl nohhlrlit perts bh prbnuktobi es wl`` es nostromutobi ein wglrl kbisuflrs kei muyprbnukts `bke``y. Ehtlr e tbur, dulsts wlrl em`l tb iltwbra ein noil.

Ehtlr noiilr, bwilrs [tlpgei Fokgl`sbi ein Mltgeiil Aiunsbi hbrfe``y wl`kbflntgl drbup ein sgerln tglor mekadrbuin ein gbw tgl Brob`l Fo`` kefl tb ml bketln oiGlinlrsbi Kbuity oi =338. ^gos wgb`l erleybu fodgt sey, tgos sonl bh tgl trekas

wes rlnlvl`bpln nlkenls edb. ]ey Evliul mlkefl Brob`l Nrovl ekrbss tgl treka. Tltbba tget iefl, `lttoid butsonlrs tgoia tglkoty gen iefln tgl strllt ehtlr tgl fo``. Horstkefl tgl p`ekl, tgli kefl tgl iefl, stetln[tlpgei Fokgl`sbi. ^biy E`flone, hbrflr

envoslr hbr jbms ein tgl lkbibfy uinlr Dbvlr-ibr Set FkKrbry, tgli prbvonln ei lkbibfokbut`bba hbr tgl [tetl bh Ibrtg Kerb`oie. ^glSertilrsgop rlkbdiozln tgl Ibrtg Kerb`oieNlpertflit bh ^reispbrtetobi, Novosobi 5>es Sertilr bh tgl _ler hbr tglor suppbrt einslrvokl tb que`oty jbm krletobi ein lkbibfoknlvl`bpflit. Sltl [zl`wekg bh K`lflit Sep-pes wes gbibrln wotg tgl Kgeorfeis Ewernhbr gos `lenlrsgop oi lxp`broid tgl sao``s depkge``lidl, ein wbraoid tb mlttlr kbiilktfeiuhekturoid ein tgl skgbb` systlf.

8/9/2019 HCPED Annual Report 2013-14

13/20E] 5;5> | 5;

]lturioid tb ots rbbts, tgl Sertilrsgop oiotoetln e fbrl rbmust ein terdltln feraltoid prbdref, hbkusln bi mloid `lssrl`oeit bi trenotobie` pertilrs hbr `len dlilretobi ein prbjlkt ektovoty. Es tgl [tetl bh Ibrtg Kerb`oie kbfflikln lhhbrts

tb provetozl tgl se`ls ein feraltoid huiktobis bh tgl Nlpertflit bh Kbfflrkl, ein EnveitedlTlst kbitoiuln ots treiso-tobi, feraltoid ein prbjlkt feiedlflit lfpgesos rlturiln tb tgl `bke` `lvl`.

J\@_ Srlslitln tb Nual Lilrdy Musoilss & LkbibfokNlvl`bpflit ^lef

E\D\[^ Butnbbr ]lteo`lr [ufflr Feralt ke`` fos-sobi Kerb`oieTlst Kger`bttl prlslitetobi Nltrbot ke``fossobi tb eutbfbtovl kbfpeiols.

[LS^LFML] Et`eite ke`` fossobi. Lekg yler, tglSertilrsgop ettlins tgl Butnbbr ]linlzvbus lvlit es ei

bppbrtuioty tb dlt oi hrbit bh butnbbr kbfpeiy steal-gb`nlrs. Bil bh tgl lvlits et tgl ]linlzvbus os hbkusln bitlef muo`noid, mroidoid `lenlrs hrbf nohhlrlit brdeioze-tobis tbdltglr hbr ei ehtlribbi bh kbfpltotovl defls. Ettgl lvlit, Mrotteiy Mreny prbvonln glr tlef wotg ButnbbrNlstoietobi sgorts, e``bwoid hbr tgl litorl tlef tb feraltGlinlrsbi Kbuity oi [ei Noldb, KE.

BK^BML] [butg ^LK ^renl [gbw oi Drllivo``l, [K

IBXLFML] Kerb`oieTlst ke`` fossobi tb Ne``es, ^W

NLKLFML] Gbstln \pstetl [butg Kerb`oie kbisu`teits`uikg oi Drllivo``l, [K

JEI\E]_Butnbbr ]lteo`lr Toitlr Feralt

HLM]\E]_ [otl [l`lktbrs Duo`n

FE]KGEt`eite ke`` fossobi

ES]O@ Bi Epro` 4,Sertilrsgop [tehh einErtur Motilr bh L`ae-flt ettlinln tgl Dlr-fei Eflrokei Kgefmlrbh Kbfflrkl [FL sgbwoi Drllivo``l, [K. Mot-ilr prbvonln wl`kbf-

oid rlferas et tgl lvlit.Gl sgerln wotg hl``bwDlrfei kbfpeiols gbwnboid musoilss oi Gli-nlrsbi Kbuity ges prbvlisukklsshu` hbr gos kbf-peiy ein feiuhekturoidbplretobi. ^gl tlstofb-ioe` bh plrsbie` lxplro-likl kbfp`lflitln drletiltwbraoid bppbrtuiotols.

FE_BL[E [upp`olrs Flltoid. Keil Krlla Kyk`oid

Kbfpbilits epprbekgln tgl Sertilrsgop oi tgl [proidembut gl`poid wotg e prbnukt euikg. Keil Krlla wbu`n mlgbstoid fbrl tgei =3 jburie`osts hrbf erbuin tgl d`bml oiei lhhbrt tb sgbwkesl tglor ilw sgbka ein tbut tgl erle moa-oid treo`s. GKSLN slozln tgl bppbrtuioty tb deoi lxpbsurlhbr Glinlrsbi Kbuity ein gbstln e noiilr hbr tgl jbur-ie`osts bi Fey 5

8/9/2019 HCPED Annual Report 2013-14

14/205> | GKSLN

Oi 5?74, litrlprlilur einoivlitbr Sltlr ^gbf stertlnFbie @ose Hbbns, e feiuhek-turlr bh uioqul kgbkb`etl nlk-

bretobi prbnukts, oi [e`oies,Ke`ohbrioe. Hb``bwoid e plrobnbh stleny drbwtg, tgl kbfpeiywes rl`bketln oi 5??; tb otskurrlit `bketobi oi Lnilyvo``l,Ibrtg Kerb`oie. Oi =35=,Fbie @ose Hbbns wes ekquorlnmy Merry Ke``lmeut, tgl wbr`ns`lenoid feiuhekturlr bh godg-que`oty kbkbe ein kgbkb`etlprbnukts, slttoid tgl stedl hbrkbitoiuln drbwtg.

Oi [proid bh =35>, tgl kbfpeiy mrbal drbuin tb mldoiwbraoid bi e =

8/9/2019 HCPED Annual Report 2013-14

15/20E] 5;5> | 535A mlilhots. Lfporl wo`` oivlst epprbxofetl`y$5> fo``obi oi tglor ilw Glinlrsbi Kbuity `bketobi, fbst bh wgokg wo`` ml rlh`lktln tgrbudg rle` prbplrty oivlstflit.

8/9/2019 HCPED Annual Report 2013-14

16/2058 | GKSLN

LWO[^OID OIN\[^]_

85Oinustroe` ]ltlitobi

& Lxpeisobi Xosotetobis

==7Lxostoid Oinustry Kbisu`toid& ^rbum`l [gbbtoid Kbitekts

FE]AL^OID

54Feraltoid Ektovotols

;=,8>

@EMB] HB]KL

>8,5>7

5=%

LFS@B_LN

>;,?=8 >?,3.7%

8/9/2019 HCPED Annual Report 2013-14

17/20E] 5;5> | 54

Oi =33=, e Kbfpltotovl Esslssflit wes plrhbrfln my @bkawbbn Drllil tbmlikgfera Glinlrsbi Kbuitys strlidtgs, ilutre`s ein wleailssls edeoistsl`lktln pllr kbffuiotols (Fbrdei, E@1 [perteimurd, [K1 M`buit, ^IKglstlrhol`n, XE, ltk.) ^gl esslssflit flesurln => lkbibfok nlvl`bpflihektbrs hrbf tgl plrsplktovl bh musoilss oivlstflit: Gbw ei butsonl musoilss

oivlstbr fodgt volw tgl erle ein ots kbffuiotols es e pbtlitoe` `bketobi hbr eilw heko`oty br es e `bketobi hbr ei lxpeisobi bh ei lxostoid heko`oty.

^b stert tgl 5;-5> hoske` yler, GKSLN Mbern flfmlrs wlrl survlyln bitgl sefl => hektbrs. ^gl rlsu`ts, sgbwi ml`bw, nlfbistretl ofprbvlflitoi feiy ketldbrols ein rloihbrkl tgl Sertilrsgops kbitoiuln kbffotflittb ennrlssoid bur profery wleailssls, oinustroe` `ein kbsts ein eveo`emo`otyofflnoetl `embr eveo`emo`oty ein pbtlitoe` eveo`em`l wbralrs.

[^]LID^G[

Sbtlitoe` eveo`em`l wbralrs [tetl & `bke` texls@embr prbnuktovoty, wbra ltgok & `embr feiedlflit rl`etobis @embr prbnuktovoty, wbra ltgok & `embr feiedlflit rl`etobis

M`ul ]ondl Kbffuioty Kb``ldl & tlkgioke` treoioid M`ul ]ondl Kbffuioty Kb``ldl & tlkgioke` treoioid A-5= lnuketobi A-5= lnuketobi Uue`oty bh `ohl Uue`oty bh `ohl Gle`tg kerl Gle`tg kerl

Srbxofoty tb e fltrb erle wotg ietobie` vosomo`oty Srbxofoty tb e fltrb erle wotg ietobie` vosomo`oty Hevbrem`l lkbibfok dlbdrepgy & godgwey ekklss Hevbrem`l lkbibfok dlbdrepgy & godgwey ekklss Drbuin treispbrtetobi Drbuin treispbrtetobi ^l`lkbffuioketobis

L`lktrokoty & ieture` des Slrklovln musoilss k`ofetl \ioln suppbrt & vosobi hbr lkbibfok nlvl`bpflit

]lsburkls nlvbtln tb lkbibfok nlvl`bpflit Eor treispbrtetobi

IL\^]E@

@embr kbst [tetl & `bke` oiklitovls Offlnoetl `embr eveo`emo`ot`y Tetlr & slwlr Eor treispbrtetobi Kbbplretobi efbid rldobie` dbvlriflits [tetl & `bke` texls @embr kbst [tetl & `bke` oiklitovls Gle`tg oisureikl kbsts Tetlr & slwlr Kbst bh `ovoid

^l`lkbffuioketobis slrvokls L`lktrokoty & ieture` des

TLEAIL[[

Oinustroe` `ein kbst & eveo`emo`oty Oinustroe` `ein kbst & eveo`emo`oty Slrklovln musoilss k`ofetl Offlnoetl `embr eveo`emo`oty \ioln suppbrt & vosobi hbr lkbibfok nlvl`bpflit Sbtlitoe` eveo`em`l wbralrs Kbbplretobi efbid rldobie` dbvlriflits ]lsburkls nlvbtln tb lkbibfok nlvl`bpflit Kbst bh `ovoid Gle`tg oisureikl kbsts

=33= =35;

8/9/2019 HCPED Annual Report 2013-14

18/2057 | GKSLN

S]L[ONLI^E@ FLFML][

Esglvo``l ]ldobie` Eorpbrt

Meia bh Ibrtg Kerb`oie

Kerb`oie [plkoe`tolsKbistruktobi

Kesbi Kbfpeiols, Oik.

Koty bh Glinlrsbivo``l

K`lflit SeppesNoxbi Gudgls Dbbnfei, @@S

L`aeflt

Hlrik`ohh

Glinlrsbi Kbuity

Gbfl^rust Meia

OFBKB, Oik.

Jbgisbi Srokl [proia`l SE

Ao`i Nryoid [ystlfs &Kbfpbilits, Oik.

Aofmlr`y-K`era Kbrpbretobi

@ldeky Senn`lspbrts

Ferderlt ]. SernllFlfbroe` Gbspote`

Fbrrbw Oisureikl Edliky,Oik.

[L@LL Kbrpbretobi

[ui^rust

^N Meia

liibke KbistruktobiKbfpeiy

bwi bh H`ltkglr

^bwi bh Fo``s ]ovlr

\SF ]eh`etek, Oik.

Tlstlri Kerb`oie \iovlrsoty

LWLK\^OXL FLFML][

E^&^

E``-[tetls Flnoke` [upp`y, Oik.

MM&^

Mezz`l, Kerr & Serkl, S.E.

MbrdTerilr ^glrfe`

LK[ Kerb`oies, @@S

Lilrdy \iotln Srbpeil

H`evbr 5st Drbwlrs & Sekalrs

H`ltkglr Musoilss Sera

GN Oivlstbrs, @@K

Geyils Torl Kbfpeiy

Glinlrsbi Bo` Kbfpeiy

Glinlrsbivo``l @odgtioid

Gby`l Bhhokl [b`utobis, Oik.

Oii bi Kgurkg

Oivlstbrs ]le`ty DrbupFM Aegi Kbistruktobi Kb.

Fekbi Meia

Fbss & Essbkoetls

SIK Meia

]ey Nliiy (Kb`nwl`` MeialrAoid)

]lemli Bo` Kbfpeiy

^gbs. [glpglrn & [bi

[olrre Ilvene Mrlwoid

Kbfpeiy

[butglri E`erf & [lkuroty

bwi bh @eurl` Sera

Xei ToidlrnliOitlrietobie`

TD@E Lidoillroid

Tl``s Herdb

DLIL]E@ FLFML][

E[D (EDO [gbrlwbbn)

Ekkuretl ^lkgib`bdy, Oik.

Enveikln MusoilssLquopflit

Enveikln Nete & Iltwbra[b`utobis

Enveikln ^lkgioke`Tl`noid, Oik.

E`tefbit Livorbiflite`,Oik.

^gl E`tlrietovl Mbern

Et`es Mb`t & [krlw, Oik.

Mlvlr`y-Geias & Essbkoetls

M`ul ]ondl Flte`sKbrpbretobi

Mbyn Eutbfbtovl

Mrbwi & Modl`bw

Mylrs Srlkosobi Hemroketbrs

Ker` L. [gew, KSE, S@@K

Kerb`oie E``oeikl Meia

Kerb`oie Oihbrfetobilkgib`bdy ]lsburkl Kbrp.

Kerb`oie [fo`l Fealrs,Nr. Sltl ]okgerns, NN[

K`lerTetlr Livorbiflite`,Oik.

Kbffuioty Hbuinetobi bh

Glinlrsbi KbuityKbvl[ter Oivlstflit]le`ty Envosbrs

Nevl [tll` Kb., Oik.

Nui`ep Kbistruktobi

Ldb`h Fbtbrs

Lxkl` Kbisu`toid Drbup, @@K

Lxot ]le`ty Xostes

Herfgbusl Drepgoks

AL_

ILTFLFML][

OIK]LE[OIDFLFML][

S]L[ONLI^E@ FLFML][

Esglvo``l ]ldobie` Eorpbrt

Meia bh Ibrtg Kerb`oie

Kerb`oie [plkoe`tolsKbistruktobi

Kesbi Kbfpeiols, Oik.

Koty bh Glinlrsbivo``l

K`lflit SeppesNoxbi Gudgls Dbbnfei, @@S

L`aeflt

Hlrik`ohh

Glinlrsbi Kbuity

Gbfl^rust Meia

OFBKB, Oik.

Jbgisbi Srokl [proia`l SE

Ao`i Nryoid [ystlfs &Kbfpbilits, Oik.

Aofmlr`y-K`era Kbrpbretobi

@ldeky Senn`lspbrts

Ferderlt ]. SernllFlfbroe` Gbspote`

Fbrrbw Oisureikl Edliky,Oik.

[L@LL Kbrpbretobi

[ui^rust

^N Meia

liibke KbistruktobiKbfpeiy

bwi bh H`ltkglr

^bwi bh Fo``s ]ovlr

\SF ]eh`etek, Oik.

Tlstlri Kerb`oie \iovlrsoty

LWLK\^OXL FLFML][

E^&^

E``-[tetls Flnoke` [upp`y, Oik.

MM&^

Mezz`l, Kerr & Serkl, S.E.

MbrdTerilr ^glrfe`

LK[ Kerb`oies, @@S

Lilrdy \iotln Srbpeil

H`evbr 5st Drbwlrs & Sekalrs

H`ltkglr Musoilss Sera

GN Oivlstbrs, @@K

Geyils Torl Kbfpeiy

Glinlrsbi Bo` Kbfpeiy

Glinlrsbivo``l @odgtioid

Gby`l Bhhokl [b`utobis, Oik.

Oii bi Kgurkg

Oivlstbrs ]le`ty DrbupFM Aegi Kbistruktobi Kb.

Fekbi Meia

Fbss & Essbkoetls

SIK Meia

]ey Nliiy (Kb`nwl`` MeialrAoid)

]lemli Bo` Kbfpeiy

^gbs. [glpglrn & [bi

[olrre Ilvene Mrlwoid

Kbfpeiy

[butglri E`erf & [lkuroty

bwi bh @eurl` Sera

Xei ToidlrnliOitlrietobie`

TD@E Lidoillroid

Tl``s Herdb

DLIL]E@ FLFML][

E[D (EDO [gbrlwbbn)

Ekkuretl ^lkgib`bdy, Oik.

Enveikln MusoilssLquopflit

Enveikln Nete & Iltwbra[b`utobis

Enveikln ^lkgioke`Tl`noid, Oik.

E`tefbit Livorbiflite`,Oik.

^gl E`tlrietovl Mbern

Et`es Mb`t & [krlw, Oik.

Mlvlr`y-Geias & Essbkoetls

M`ul ]ondl Flte`sKbrpbretobi

Mbyn Eutbfbtovl

Mrbwi & Modl`bw

Mylrs Srlkosobi Hemroketbrs

Ker` L. [gew, KSE, S@@K

Kerb`oie E``oeikl Meia

Kerb`oie Oihbrfetobilkgib`bdy ]lsburkl Kbrp.

Kerb`oie [fo`l Fealrs,Nr. Sltl ]okgerns, NN[

K`lerTetlr Livorbiflite`,Oik.

Kbffuioty Hbuinetobi bh

Glinlrsbi KbuityKbvl[ter Oivlstflit]le`ty Envosbrs

Nevl [tll` Kb., Oik.

Nui`ep Kbistruktobi

Ldb`h Fbtbrs

Lxkl` Kbisu`toid Drbup, @@K

Lxot ]le`ty Xostes

Herfgbusl Drepgoks

http://flyavl.com/http://bankofnc.com/http://www.cscwnc.com/http://www.cscwnc.com/http://www.casonbuildersupply.com/http://www.cityofhendersonville.org/http://www.clementpappas.com/http://www.dixon-hughes.com/http://www.dixon-hughes.com/http://elkamet.com/http://hendersoncountync.org/http://www.hometrustbanking.com/http://imocoinc.net/http://jpspa.com/http://www.kdskilns.com/app/dynarea/view_article/1.htmlhttp://www.kdskilns.com/app/dynarea/view_article/1.htmlhttp://www.kimberly-clark.com/http://www.pardeehospital.org/http://www.pardeehospital.org/http://www.morrowinsurance.com/http://www.morrowinsurance.com/http://www.selee.com/http://www.tdbank.com/http://tennoca.com/http://tennoca.com/http://www.fletchernc.org/http://www.millsriver.org/http://www.raflatac.com/http://www.wcu.edu/http://www.att.com/http://www.allstatesmedical.com/http://www.bbt.com/http://www.bazzleandcarrlaw.com/http://www.borgwarner.com/http://www.ecslimited.com/https://www.energyunited.com/propane.asphttp://www.flavor1st.com/http://www.pulliamproperties.com/http://www.haynesintl.com/http://www.hendersonoil.com/http://www.hendersonvillelightning.com/http://hoyleos.com/http://www.innonchurch.com/http://www.mbkahn.com/http://www.mbkahn.com/https://www.maconbank.com/http://www.mosscm.com/http://www.pnc.com/http://www.coldwellbanker.com/agent?agentId=676679&mode=detailhttp://www.coldwellbanker.com/agent?agentId=676679&mode=detailhttp://www.trianglestop.com/http://www.thosshepherd.com/index.cfmhttp://www.sierranevada.com/http://www.sierranevada.com/http://www.southernalarm.com/http://www.laurelpark.org/http://natures-heritage.com/http://natures-heritage.com/https://www.wellsfargo.com/https://www.wellsfargo.com/http://flyavl.com/http://bankofnc.com/http://www.cscwnc.com/http://www.cscwnc.com/http://www.casonbuildersupply.com/http://www.cityofhendersonville.org/http://www.clementpappas.com/http://www.dixon-hughes.com/http://www.dixon-hughes.com/http://elkamet.com/http://hendersoncountync.org/http://www.hometrustbanking.com/http://imocoinc.net/http://jpspa.com/http://www.kdskilns.com/app/dynarea/view_article/1.htmlhttp://www.kdskilns.com/app/dynarea/view_article/1.htmlhttp://www.kimberly-clark.com/http://www.pardeehospital.org/http://www.pardeehospital.org/http://www.morrowinsurance.com/http://www.morrowinsurance.com/http://www.selee.com/http://www.tdbank.com/http://tennoca.com/http://tennoca.com/http://www.fletchernc.org/http://www.millsriver.org/http://www.raflatac.com/http://www.wcu.edu/http://www.att.com/http://www.allstatesmedical.com/http://www.bbt.com/http://www.bazzleandcarrlaw.com/http://www.borgwarner.com/http://www.ecslimited.com/https://www.energyunited.com/propane.asphttp://www.flavor1st.com/http://www.pulliamproperties.com/http://www.haynesintl.com/http://www.hendersonoil.com/http://www.hendersonvillelightning.com/http://hoyleos.com/http://www.innonchurch.com/http://www.mbkahn.com/http://www.mbkahn.com/https://www.maconbank.com/http://www.mosscm.com/http://www.pnc.com/http://www.coldwellbanker.com/agent?agentId=676679&mode=detailhttp://www.coldwellbanker.com/agent?agentId=676679&mode=detailhttp://www.trianglestop.com/http://www.thosshepherd.com/index.cfmhttp://www.sierranevada.com/http://www.sierranevada.com/http://www.southernalarm.com/http://www.laurelpark.org/http://natures-heritage.com/http://natures-heritage.com/https://www.wellsfargo.com/https://www.wellsfargo.com/https://www.wellsfargo.com/https://www.wellsfargo.com/https://www.wellsfargo.com/http://natures-heritage.com/http://natures-heritage.com/http://natures-heritage.com/http://www.laurelpark.org/http://www.southernalarm.com/http://www.sierranevada.com/http://www.sierranevada.com/http://www.sierranevada.com/http://www.thosshepherd.com/index.cfmhttp://www.trianglestop.com/http://www.coldwellbanker.com/agent?agentId=676679&mode=detailhttp://www.coldwellbanker.com/agent?agentId=676679&mode=detailhttp://www.coldwellbanker.com/agent?agentId=676679&mode=detailhttp://www.pnc.com/http://www.pnc.com/http://www.mosscm.com/https://www.maconbank.com/http://www.mbkahn.com/http://www.innonchurch.com/http://www.innonchurch.com/http://hoyleos.com/http://hoyleos.com/http://www.hendersonvillelightning.com/http://www.hendersonvillelightning.com/http://www.hendersonoil.com/http://www.haynesintl.com/http://www.pulliamproperties.com/http://www.flavor1st.com/https://www.energyunited.com/propane.asphttps://www.energyunited.com/propane.asphttp://www.ecslimited.com/http://www.ecslimited.com/http://www.borgwarner.com/http://www.bazzleandcarrlaw.com/http://www.bbt.com/http://www.allstatesmedical.com/http://www.allstatesmedical.com/http://www.att.com/http://www.wcu.edu/http://www.raflatac.com/http://www.millsriver.org/http://www.fletchernc.org/http://www.fletchernc.org/http://tennoca.com/http://tennoca.com/http://tennoca.com/http://www.tdbank.com/http://www.tdbank.com/http://www.selee.com/http://www.morrowinsurance.com/http://www.morrowinsurance.com/http://www.pardeehospital.org/http://www.pardeehospital.org/http://www.pardeehospital.org/http://www.kimberly-clark.com/http://www.kdskilns.com/app/dynarea/view_article/1.htmlhttp://www.kdskilns.com/app/dynarea/view_article/1.htmlhttp://jpspa.com/http://jpspa.com/http://imocoinc.net/http://imocoinc.net/http://www.hometrustbanking.com/http://www.hometrustbanking.com/http://hendersoncountync.org/http://elkamet.com/http://elkamet.com/http://www.dixon-hughes.com/http://www.clementpappas.com/http://www.cityofhendersonville.org/http://www.casonbuildersupply.com/http://www.casonbuildersupply.com/http://www.cscwnc.com/http://www.cscwnc.com/http://bankofnc.com/http://flyavl.com/https://www.wellsfargo.com/https://www.wellsfargo.com/https://www.wellsfargo.com/http://natures-heritage.com/http://natures-heritage.com/http://natures-heritage.com/http://www.laurelpark.org/http://www.southernalarm.com/http://www.sierranevada.com/http://www.sierranevada.com/http://www.sierranevada.com/http://www.thosshepherd.com/index.cfmhttp://www.trianglestop.com/http://www.coldwellbanker.com/agent?agentId=676679&mode=detailhttp://www.coldwellbanker.com/agent?agentId=676679&mode=detailhttp://www.coldwellbanker.com/agent?agentId=676679&mode=detailhttp://www.pnc.com/http://www.pnc.com/http://www.mosscm.com/https://www.maconbank.com/http://www.mbkahn.com/http://www.innonchurch.com/http://www.innonchurch.com/http://hoyleos.com/http://hoyleos.com/http://www.hendersonvillelightning.com/http://www.hendersonvillelightning.com/http://www.hendersonoil.com/http://www.haynesintl.com/http://www.pulliamproperties.com/http://www.flavor1st.com/https://www.energyunited.com/propane.asphttps://www.energyunited.com/propane.asphttp://www.ecslimited.com/http://www.ecslimited.com/http://www.borgwarner.com/http://www.bazzleandcarrlaw.com/http://www.bbt.com/http://www.allstatesmedical.com/http://www.allstatesmedical.com/http://www.att.com/http://www.wcu.edu/http://www.raflatac.com/http://www.millsriver.org/http://www.fletchernc.org/http://www.fletchernc.org/http://tennoca.com/http://tennoca.com/http://tennoca.com/http://www.tdbank.com/http://www.tdbank.com/http://www.selee.com/http://www.morrowinsurance.com/http://www.morrowinsurance.com/http://www.pardeehospital.org/http://www.pardeehospital.org/http://www.pardeehospital.org/http://www.kimberly-clark.com/http://www.kdskilns.com/app/dynarea/view_article/1.htmlhttp://www.kdskilns.com/app/dynarea/view_article/1.htmlhttp://jpspa.com/http://jpspa.com/http://imocoinc.net/http://imocoinc.net/http://www.hometrustbanking.com/http://www.hometrustbanking.com/http://hendersoncountync.org/http://elkamet.com/http://elkamet.com/http://www.dixon-hughes.com/http://www.clementpappas.com/http://www.cityofhendersonville.org/http://www.casonbuildersupply.com/http://www.casonbuildersupply.com/http://www.cscwnc.com/http://www.cscwnc.com/http://bankofnc.com/http://flyavl.com/

8/9/2019 HCPED Annual Report 2013-14

19/20E] 5;5> | 5?

H`ltkglr TerlgbusoidKbfpeiy

Gejbke Kbrpbretobi

Glinlrsbi KbuityLnuketobi Hbuinetobi

Glinlrsbi Kbuity Sum`ok[kgbb`s

Glinlrsbi Kbuity burosfNlvl`bpflit Eutgbroty

Glinlrsbivo``l KbuitryK`um, Oik.

Glinlrsbivo``l SroitoidKbfpeiy

Gb`oney Oii Lxprlss

Gbrozbi Gletoid & EorKbinotobioid

o= Feraltoid, Oik.

OSF KbrpbretobiOinustroe` Kglfoke`Kbfpeiy

Alifurl Litlrprosls, Oik.

Aliiltg ]. _buidm`bbn

Feiue` Tbbnwbralrs &Tlevlrs, Oik.

Fers Go`` \iovlrsoty

Fest Dlilre` [tbrl

Fettlri & Kreod, Oik.

FkNbie`ns - LnwernsDrbup

FkDo`` Essbkoetls

Flrotbr

Fo``lr Mrbtglrs

Fo``lrs Hoil Nry K`leioid

Fbrbseio & Essbkoetls

Fbuiteoi Krlnot \iobi

Fbuiteoi Oii & [uotls

Ietobie` lkgioke`Gbibr [bkolty

Ibrfs Foiot Ferts

IK Nlpertflit bhKbfflrkl Novosobi bhTbrahbrkl [b`utobis

^gl Bmsonoei Kb``lktovl

Sera ]ondl Gle`tg

Slpso-Kb`e Mbtt`oidKbfpeiy

S`ett Erkgotlkturl, S.E.

Sroikl Feiuhekturoid

[&FL

[butglestlri [urltols Drbup

[butglri Kbikrltl Fetlroe`s

[teinern ytepl Kbfpeiy

[tu``lr Sbwlr [b`utobis[uffot Feraltoid Drbup

[ykefbrl Kyk`ls

^gl ofls-Ilws

urh Fbuiteoi [bn

\iotln Kbffuioty Meia

\iotln Tey bh GlinlrsbiKbuity

Xo``edl bh H`et ]bka

Xbketobie` [b`utobis bh

Glinlrsbi KbuityTern ein [fotg, S.E.

Tevlr y Oii

Tl``s Herdb Envosbrs

Tgotily Kbfflrkoe` ]le`Lstetl [lrvokls

To`sbiert Oitlrietobie`

Toidetl \iovlrsoty

KBFF\IO^_ KB@@LDL

H`ltkglr TerlgbusoidKbfpeiy

Gejbke Kbrpbretobi

Glinlrsbi KbuityLnuketobi Hbuinetobi

Glinlrsbi Kbuity Sum`ok[kgbb`s

Glinlrsbi Kbuity burosfNlvl`bpflit Eutgbroty

Glinlrsbivo``l KbuitryK`um, Oik.

Glinlrsbivo``l SroitoidKbfpeiy

Gb`oney Oii Lxprlss

Gbrozbi Gletoid & EorKbinotobioid

o= Feraltoid, Oik.

OSF KbrpbretobiOinustroe` Kglfoke`Kbfpeiy

Alifurl Litlrprosls, Oik.

Aliiltg ]. _buidm`bbn

Feiue` Tbbnwbralrs &Tlevlrs, Oik.

Fers Go`` \iovlrsoty

Fest Dlilre` [tbrl

Fettlri & Kreod, Oik.

FkNbie`ns - LnwernsDrbup

FkDo`` Essbkoetls

Flrotbr

Fo``lr Mrbtglrs

Fo``lrs Hoil Nry K`leioid

Fbrbseio & Essbkoetls

Fbuiteoi Krlnot \iobi

Fbuiteoi Oii & [uotls

Ietobie` lkgioke`Gbibr [bkolty

Ibrfs Foiot Ferts

IK Nlpertflit bhKbfflrkl Novosobi bhTbrahbrkl [b`utobis

^gl Bmsonoei Kb``lktovl

Sera ]ondl Gle`tg

Slpso-Kb`e Mbtt`oidKbfpeiy

S`ett Erkgotlkturl, S.E.

Sroikl Feiuhekturoid

[&FL

[butglestlri [urltols Drbup

[butglri Kbikrltl Fetlroe`s

[teinern ytepl Kbfpeiy

[tu``lr Sbwlr [b`utobis[uffot Feraltoid Drbup

[ykefbrl Kyk`ls

^gl ofls-Ilws

urh Fbuiteoi [bn

\iotln Kbffuioty Meia

\iotln Tey bh GlinlrsbiKbuity

Xo``edl bh H`et ]bka

Xbketobie` [b`utobis bh

Glinlrsbi KbuityTern ein [fotg, S.E.

Tevlr y Oii

Tl``s Herdb Envosbrs

Tgotily Kbfflrkoe` ]le`Lstetl [lrvokls

To`sbiert Oitlrietobie`

Toidetl \iovlrsoty

8/9/2019 HCPED Annual Report 2013-14

20/20