2003 Annual Report 5 Bradyprinter™ Model 1344 printer with a compact design, high print resolution and bar-coding capability fits the bill. In addition, Brady offered two new software solutions for laboratory identification: LabelMark™ labeling software and CODESOFT™6 labeling design software. Expanding the offering of last year’s new products, we added a new line of colored label materials for the ID Pal™ Labeling Tool, and launched the GlobalMark™ Industrial Label Maker in Asia with new applications and templates in Korean, Japanese and Chinese. This year we made four acquisitions to strengthen our product offering and enhance our position in the marketplace. In January 2003, we acquired TISCOR, Inc., located in San Diego, California. TISCOR is an industry leader in designing handheld-computer software that automates the documentation process Acquisitions Geographic Expansion Other new products introduced in fiscal 2003 include Varitronics’ ProFinish™ XL Cold Laminating System for the education market, which provides heavy duty protection to school posters, banners and other visuals up to 42” wide. The exodus of electronic manufacturing to Asia continued to drive our  investment strategy in the region. In December 2002, we further  positioned ourselves to quickly and effectively respond to multinational and local customers in Asia by opening a new manufacturing operation in Penang, Malaysia. Production there includes high-performance labels used to identify printed circuit boards, wires, cables, patch panels and outlets in telecommunication closets. In March 2003, we opened a second manufacturing facility in China by expanding our Beijing operation to include production of die-cut components for use in cellular phones, pagers and other telecommunication devices. The Beijing location will also serve as Brady’s prototype center for the region. A third manufacturing facility in China, located in Shenzhen, will be operational soon. These expansions are part of an ongoing initiative to further grow our business in the robust telecommunications and electronics markets in Asia. Brady’s product offerings are meeting the needs of a growing Asian market. A pril 2003 -  Brady announces reor ganization of its global b usinesses to a r egion-based structur e March 2003 - Brady's Manaus, Brazil facility earns ISO 9001:2000 certification February 2003 - Brady acquires British distributor Cleere Advantage Ltd. February 2003 - Frank Jaehnert elected President and CEO, and Katherine Hudson elected Chairman of the Board, effective April 1, 2003 January 2003 - Brady acquires TISCOR, Inc., a San Diego-based software developer