We are committed to maintaining our strong presence in Oxo Intermediates in our core markets of Europe and North America as well as globally. We intend to continue developing our processes to improve upon our high degree of operational reliability, which provides our customers with security of supply, and to continue to grow our Oxo Intermediates activities in line with increases in our customers' demand.
We are committed to moving further down the Oxo chemicals value chain into a stronger, more specialized and higher margin Oxo Derivatives position and to expanding our product offering through organic growth and selective bolt-on acquisitions by leveraging our core competencies. Using our technological expertise and knowledge of the Oxo chemical industry we continuously review our product lines, which may result in selective expansions and acquisitions, both within and potentially outside of our core markets of Europe and North America. For example, in 2008 we launched our first new product, 3G8 ester, and in 2009 we acquired our plant in Amsterdam. We launched four new esters in that facility using our own raw materials and the plant is currently operating at full capacity. We are increasingly focused on expanding our product offering in emerging markets and continue to evaluate opportunities in those markets.
Click image to enlarge
Since our inception, we have taken advantage of opportunities to complete moderate capital expenditure projects to achieve process improvements and to create efficiencies with a short payback horizon. These are commonly referred to as "de-bottlenecking" opportunities. We intend to continue to make such de-bottlenecking capital expenditures to improve our efficiency and margins, especially where such expenditures lead to improved Oxo Derivatives capacities.
We have demonstrated our ability to generate robust cash flows over the last three years. We intend to focus on maintaining strong cash flow generation by maximizing the utilization of our assets, leveraging existing resources and maintaining discipline in growth-oriented capital expenditures. We intend to apply the cash flows generated from these initiatives to reduce our leverage.
Click image to enlarge
We currently perform at a world-class level with respect to HSE and we are dedicated to continually improving our HSE performance. We ensure that all employees receive appropriate training, thereby enabling them to effectively contribute to HSE performance and HSE improvement processes. It is our policy to design our manufacturing processes and to distribute our products in a responsible manner so that our employees, customers, the public and the environment are protected from avoidable risks. Our strategy is to continue achieving injury and environmental compliance ratings better than world-class benchmarks.