2019 was a major transition year for our company. Slow market sentiment opened an opportunity for ourselves and Delta Group to expand and improve our production capacity and efficiency to meet the demands of the new era of 5Gs and Internet of Things business.
In Thailand, we constructed a new plant which we will inaugurate in the second quarter of 2020. This plant will increase not only our Fan business capacity but will serve as an auxiliary space for new products especially for EV and Medical Power Supplies which will come soon. In addition, we converted a warehouse into a factory for Delta Networking Products, such as routers and switches, from China to diversify risk for Delta group and its customers. In 2020, new factories in our new India locations will start producing more capacity and a wider range of products.
For our existing factories, change of machinery and implementation of Delta Smart Manufacturing (DSM) is the most important task for both the short and long term. DSM will create better yield with higher quality and aims at improving both the optimal and minimal use of the world’s limited resources to protect the environment.
Because climate change from global warming is a critical and urgent issue, Delta Group and management take on obligations and responsibilities in many aspects to support innovation for a greener and better lifestyle with hefty investment in Research & Development. In Germany, we added several headcounts to our EV car power supplies team, which aims to capture European car makers. In India, we continue to develop our R&D solution team aiming for breakthrough smart city and smart green life solutions.
The trade war between the US and China is not new to us. Naturally, business disruptions occasionally happen, i.e. shortage of material or Thai Baht vs US dollar exchange rate fluctuations. Although the US-China trade war may seem to have a direct impact on Delta Group by slowing down global demand, it actually is also a catalyst for the group to create and accelerate a higher level of synergy to support existing and new customers in the age of digital disruption.
In 2019, the change in major shareholders shows the deliberate progress of Delta Group in leveraging the wide range of products of Delta Electronics, Inc. to enter the Internet of Things business. Delta management capabilities in many countries are paving the way for success in consolidating the localization process for these new IoT businesses.
Finally, we would like to express our appreciation to Delta management and our staff for their contributions and sacrifice. We are sincerely grateful to our shareholders and all parties for their trust and long-term support for us for during the past 30 years. Our management and directors adhere to ethics and corporate governance to conduct business for steady growth both now and for the future.