Trimble
Annual Report 2001

Plain-text annual report

2001 Annual Report WHAT WE ARE Trimble is a world leader in providing innovative position-centric solutions. Our products and services enable our users to achieve higher productivity, greater convenience and safety and to do things they couldn’t do before. Construction Instruments • Laser and optical positioning and alignment tools OUR MARKETS Market/Segments of Revenue % Engineering & Construction 64 Surveying Machine Control Fleet & Asset Management 12 Mapping & GIS Intro Security Telematics Fleet Management Mobile Workforce Management Component Technologies Silicon Integration 12 Boards Timing Agriculture Vehicle Guidance Field Management Other Tripod Data Systems Military Our Markets Representative Products Typical Customers • GPS total stations • Optical robotic and mechanical total station • Digital levels and theodolites • Data collectors and field computers • Field and office software • GPS reference networks • Data communication solutions • Machine guidance systems • Automatic blade control systems • Data communication solutions • Surveyors • Civil engineers • Construction contractors • Transportation agencies • Earthmoving contractors • Construction contractors • Transportation agencies • General construction contractors • Utility contractors • Wall and ceiling contractors • GPS handheld and backpacked field data collectors • Utility companies • Field and office software • Natural resource agencies • Other local, state and federal government agencies • Mobile communication devices combining cellular and GPS • Consumers • Commercial vehicle and equipment owners • Mobile communication devices combining cellular and GPS • Consumers • Mobile communication devices combining cellular and GPS • Trucking, cement mixing and other fleet operators • Internet-delivered fleet management application services • Internet-delivered wireless workforce productivity application services • Sales, service and delivery businesses • Stand-alone GPS chipsets • Embedded silicon and companion firmware • Automobile tier-one suppliers • Portable appliance manufacturers • Modules supplying position, velocity, and time • Measurement platform modules supplying raw GPS measurement data • Automobile tier-one suppliers • Asset management integrators • Security device suppliers • CDMA base station synchronization modules • Time and frequency boards and instruments • Wireless location solution providers • Wireless infrastructure providers 5 7 • Manual and automatic steering aids for tractors and other farm machines • Farmers • In-field data collectors • Field and office software • Field data collectors • Field and office software • GPS receivers for military surface and airborne operations • Military time and frequency boards • Farmers • Agricultural services • Surveyors • Utility companies • Natural resource agencies • U.S. Department of Defense • Allied ministries of defense • Defense contractors FINANCIAL HIGHLIGHTS Fiscal Year Ended (in thousands except per-share amounts) Operating Data: Net revenue EBITDA Net income (loss) from continuing operations Diluted net income (loss) per share from continuing operations Balance Sheet Data: Cash, cash equivalents, and short-term investments Working capital Total assets Non-current portion of long-term debt Shareholders’ equity Adjusted Operating Data:(1) Adjusted net income (loss) from continuing operations Net income (loss) per share from continuing operations 1 2001 2000 1999 $475,292 $ 41,038 $369,798 $ 49,196 $271,364 $ 29,345 ($ 23,492) $ 14,185 $ 18,662 $ (0.95) $ 0.55 $ 0.82 $ 31,078 $ 19,304 $419,395 $131,759 $138,489 $ 40,876 $101,992 $(10,439) $111,808 $181,751 $488,628 $ 33,821 $143,553 $100,796 $134,943 $ 9,475 $ 31,135 $ 18,662 $ 0.38 $ 1.20 $ 0.82 475.3 369.8 271.4 500 400 300 200 100 0 60 40 20 0 49.2 41.0 29.3 1.20 0.82 0.38 1.20 .80 .40 0 99 00 01 99 00 01 99 00 01 Revenue EBITDA in millions except for earnings per share Adjusted EPS Adjusted for infrequent and acquisition-related charges (1) See page 24 of the 2001 Form 10-K for the reconciliation of Adjusted net income (loss) from continuing operations to Generally Accepted Accounting Principles net income (loss) from continuing operations. Amortization from goodwill included in the net loss was $29.4 million for fiscal 2001. This document may contain forward-looking statements based on current expectations that involve a number of risks and uncertainties. Other potential risks and uncertain- ties that could cause actual results to differ materially are included in the SEC filings, including Form 10-K and Form 10-Q, for Trimble. 2001 Financial Highlights LETTER TO SHAREHOLDERS AND EMPLOYEES Our plans for 2001 were challenged early in the year by the economic slowdown. We reacted immedi- ately by accelerating cost-cutting programs already underway and by adding new cost-cutting measures. In spite of these short-term distractions, we made major operational and strategic strides during the year. The economy has had a negative impact on us, but it also has impacted our competitors. We believe we have a major opportunity to strengthen our- selves competitively during this period of uncertainty and emerge stronger, poised for growth. The plans and actions dis- cussed in this report are built upon that foundation concept. our competitive position during this uncertain We have a major opportunity to strengthen period. We intend to make the most of it. 2 During 2001, we . . . . . . lowered our breakeven point from approximately $120 million of quarterly revenues to approximately $105 million by reducing fixed costs. . . . provided graphic evidence of the success of the Trimble and Spectra Precision integration by introducing a completely new survey instrument product line in February, built around common product architecture and with a common brand image. In addition, we announced a machine control joint venture with Caterpillar that is enabled by the combination of Trimble and Spectra Precision capabilities. . . . acquired GRID DATA in April, which provides a foundation upon which to achieve our objective of becoming a major participant in the location-based services business. This and other developments have resulted, as of early 2002, in a publicly announced alliance with McNeilus Companies. . . . continued to deepen our product portfolio by announcing a number of important new products. A partial list includes the Total Station 5600 Series, GPS Total Station® 5700, GPS Pathfinder® Pocket receiver, Laserstation™ 3D system, Ag GPS® EZ-Guide™ system, GL700 Grade Laser Series, and the M-Loc™ MPM GPS module. . . . continued to reshape our business portfolio to do fewer things better. We fully exited the commercial aviation business and are now in the final stages of withdrawing from the satellite communications market. We will continue the process of reshaping our portfolio around the defining themes of market leadership, profitability and growth. . . . solved the parts and manufacturing problems that impacted us in 2000. We made a number of changes in early 2001 that have put us on a fast track to converting manufacturing from a concern in 2000 into a major asset in 2002. . . . took steps to make Trimble easier to work with. We launched a multiphase program to revamp our order processing and logistics to create new capabilities for our distribution partners and customers. This effort will improve our market responsiveness and flexibility and significantly reduce our operating costs and inventories. . . . launched a company-wide initiative to reshape and develop our distribution channels to more effec- tively access end users. The initiative targets additional alternative channels, geographical expansion and increased use of OEM and other partnering relationships. . . . increased our financial strength. In late 2001 and early 2002 we completed a private equity transaction that reduced our debt by $42.4 million. In addition, we began to see the results of our improved opera- tions in declining inventories, which liberated cash. Letter to Shareholders and Employees Despite our accomplishments in 2001, the economic slowdown prevented us from increasing organic revenues and profits. The uncertainty about the economy that intensified in late 2001 makes it difficult to predict outcomes in 2002. As a company we are preparing for the return to growth. In the meantime, we continue to manage our costs aggressively. A snapshot of our businesses reflects this focus. Engineering and Construction Engineering and Construction (E&C) is our largest segment. We apply our technology to many traditional construction processes to transform the way work is done and to deliver major productivity improvements. We are aggressively managing our costs while we prepare for the return to growth. Our goals are to develop products that excel in the difficult construction environment, to validate the significant value proposition of our technology over traditional solutions, and to grow revenues and profits faster than the underlying growth of the construction market. 3 Overall, E&C reflected the slowdown, which accelerated after the September 11 tragedy. On a pro forma basis, year-over-year revenues were down 2.1% and operating income was down 4%. Construction instrument products, which are used primarily in the erection of buildings, reflected the largest decline. Machine control sales reflected economic conditions as well as the temporary startup challenges of creat- ing an effective distribution channel for the new 3D technology. Survey instruments, the largest product line in Trimble, grew strongly for the year as a result of new products and energetic promotion. Fleet and Asset Management For 2001 our Fleet and Asset Management segment included our Geographic Information Systems (GIS) and Mobile Solutions divisions. Our goals in GIS are to develop robust handheld devices with new information capabilities for the worker in the field and to accelerate revenue growth through market expansion and penetration while maintaining our historically strong margins. Our goals in Mobile Solutions are to develop bundled solutions (hardware, software and service) for targeted location-centric mobile markets and to create a network of distribution and OEM relationships that can deliver unique value to the user. Most importantly, our goal is to deliver rapid revenue growth while progressing towards breakeven by early 2003. Mobile Solutions remains the largest current investment inside Trimble. During 2001 we established the capabilities that will allow us to aggressively pursue this market. We expect that these actions will lead to concrete evidence of progress in 2002. Revenues for the segment fell 11% in 2001. The most important factor impacting revenues was our decision at the beginning of 2001 to exit the satellite communication market to focus on cellular as our communications technology. Operating income was down 68% for the year as a result of the satellite communications decision and the heavy investment in Mobile Solutions. Letter to Shareholders and Employees Component Technologies Component Technologies is different from our other businesses because our focus is not on providing a solution for the end user but in providing excellent technology to companies that, in turn, serve the end user. Our goals are to provide technology to meet the needs of a demanding customer group, to achieve a combination of price and performance that enables GPS to become ubiquitous, and to achieve revenue growth consistent with the growth of high-volume GPS while delivering superior operating margins. Component Technologies’ overall 2001 year-over-year revenues were down 3.6% and operating income was down 27%. The segment had a very strong first half in 2001 but saw a drop in revenues in the second half due to the economy, with the heaviest impact in OEM and cellular infrastructure sales. Agriculture Agricultural spending remained weak in 2001 and, as a result, our sales declined by 28% year-over-year on a pro forma basis and operating loss was $617,000. We launched or continued early-stage marketing of two important new products in 2001 that should create considerable new interest within the agricultural market. One is AgGPS Autopilot, a complete system that uses GPS to automatically steer tractors and other farm equipment; the other is AgGPS EZ-Guide, an entry-level product that provides simple manu- al guidance to the drivers of farm equipment. 4 Other Tripod Data Systems (TDS), which was acquired in late 2000, had an excellent year, growing at 9.2% for the year on a pro forma basis. Our military business returned to profitability for the full year after a strategic realignment and increased emphasis on production programs and lowered emphasis on R&D programs. Looking ahead In 2002, we are creating a new segment called Trimble Field Solutions that combines our GIS and Agriculture businesses. Our primary goal in both businesses is to collect and deliver information to workers in the field. The product needs are similar in both markets, and we expect to achieve significant product and manufacturing synergies by combining them. Trimble Mobile Solutions will be broken out as a new segment in 2002 because of its strategic uniqueness and the impact it is currently having on financial results. Our critical success factors for 2002 include the following: • We will continue to confront economic realities. We made considerable progress in reducing fixed costs in 2001 and will continue to respond to changes. • Mobile Solutions should begin to show the results of our investments of 2000 and 2001 by demonstrating clear market and financial progress during 2002. • Engineering & Construction should demonstrate the "leader’s advantage" by increasing market share and penetrating under-served market segments. In addition, we should be able to demonstrate initial success with the Caterpillar joint venture. Letter to Shareholders and Employees • Field Solutions should reflect improved profitability as new agricultural products offset the agricultural recession. • Component Technologies should demonstrate progress towards providing usable GPS technology for the wireless market. Trimble employees responded with commitment, flexibility and dedication to the challenges of 2001. I thank them all. • We should show progress towards operational excellence. Our investments in orders and logistics management should be reflected in improved inventory turnover, improved customer satisfaction and lower transaction costs. 2001 was a challenging year that required a significant redirection from our original plans. Trimble employees responded with commitment, flexibility and dedication. I thank them all. 5 Steven W. Berglund President and Chief Executive Officer Letter to Shareholders and Employees TRIMBLE: WHAT WE DO 6 Trimble’s mission is to make knowledge of posi- tion useful. By leveraging that knowledge, our products and services improve productivity, safety or convenience. Over time we have sought ways to increase the value we provide to the user. This value-increasing strategy has been enabled by the steady progression of the underlying technology and the addition of new capabilities. Our ongoing challenge is to integrate complex elements to create a seamless solution for the user. This represents the basis of our differentiation. Integrating technologies The first step in the value progression was to create the ability to provide highly accurate and reliable position data. Trimble pioneered the use of Global Positioning System (GPS) technology to reliably determine a point in two- or three-dimensional space. In 2000, the acquisition of Spectra Precision added laser and optical technologies to the mix. Our technologies have provided significant advances over traditional positioning techniques and, in some cases, allowed previously unsolvable problems to be solved. Our strong competitive position is driven by our ability to master and integrate an expanding range of technologies. Advancing technology pro- vides increasingly better answers to the positioning problem. Improving the attributes of size, weight, power consumption, accuracy and performance in difficult environments continues to be the goal of ongoing development. Integrating data to provide useful information The second step in the value progression was to use positioning data to improve the way work or, in What We Do some cases, play is done. This requires the development of in-depth knowledge of the user’s needs in the field and in the office. A business executive has different data needs than the operator of an earthmoving machine. Each application requires specific data to be acquired and converted into information that meets the user’s needs. The knowledge that Trimble has gained from years of experience in those fields is captured in millions of lines of software code. Our ability to create value through information is demonstrated by the fact that software engineers and other information technology personnel represent more than half of our technical workforce. Our software allows position data to be transformed into information available to the user to change the work process. Many multiple-step tasks have been transformed into single-step, real-time oper- ations, improving productivity and eliminating error. Providing integrated solutions The emergence of extended wireless communication capability and universal access to the Internet will enable Trimble to again improve the value proposition to the position-centric user by providing a more fully integrated solution. This will allow users real-time access to enor- mous amounts of information and the ability to use that information to solve a new class of user problems. The implications are large. The majority of our products are used in remote locations, where many position-centric applications are constrained by the limitations of local data storage. We can eliminate these limitations by accessing remote databases through a wireless/Internet link. In many applications, the seamless nature of the wireless/Internet combination enables us to break down the barriers between the "field" and the "office," thereby eliminating delays, misunderstandings and errors. THE ELEMENTS OF A POSITION-CENTRIC SOLUTION For all their inherent technical complexity, Trimble’s position-centric solutions can be summarized in three primary elements, as shown in the following chart. Our core competencies support each of these common elements. Generate Position- Centric Data Determine position using GPS, laser or optical technologies with accuracies from a few meters to centimeter-level. Acquire other data needed for the application. POSITION- CENTRIC DATA Create Usable Information Integrate and process the data to meet the specific needs of the application. The information can be extracted in alternative formats using various information devices. 7 INFORMATION Use the Information Use the information in a solution that enables decisions, provides a warning, performs work, or monitors critical status. INTEGRATED SOLUTION Core Competencies • Rugged mechanical design • GPS signal processing • GPS reference networks • ASIC design • RF interference management • Digital signal processing • Control theory • Low-cost system design • Power management • Precision optics • Precision laser design • Precision mechanics • Robotics • Data communications • Internet/wireless integration • Graphical user interfaces • Application-specific software • Multitier customer support • Concept selling skills • Transnational proficiency CUSTOMER BENEFITS: • Productivity • Safety • Convenience What We Do REAL-WORLD SOLUTIONS Fleet Management— managing a fleet of concrete trucks Engineering & Construction— managing construction site development 8 • Data: Truck-mounted units collect GPS location and other data from multiple sensors to continu- ously monitor status of vehicle and load without driver involvement. Sensors can determine the amount of water that is added to the concrete at the job site, how many revolutions the mixer drum makes, and other data to automatically determine the truck’s status during the delivery cycle of the concrete. • Information: Truck data is evaluated automatically to determine when the truck loads at the plant, leaves the plant, arrives at the job, starts and ends pouring concrete, washes out, leaves the job, and arrives back at the plant to conclude the delivery cycle. This information is time- and location-tagged and communicated to an operations center via wireless communications and the Internet. • Solution: Location and status of all vehicles are displayed at the operations center, enabling the dispatcher to constantly align the concrete plant production capacity with truck delivery capacity to meet new orders. Real-time, daily, weekly and monthly reports allow managers to analyze fleet efficiency and target productivity improvements. In the future, engine health and status data will be collected to allow early remedial maintenance actions. Real-World Solutions • Data: A surveyor, using GPS and/or optical survey instruments, collects thousands of three-dimensional points, to centimeter-level accuracy, on a site to be developed. All data is collected, stored and viewed on a display in the field for early error detection. Field notes can also be collected and integrated with the position data to create a complete record. • Information: The data collected in the field is automatically loaded into a CAD system to enable the site plan to be developed by an engineer. Data integrity is maintained throughout the process. • Solution: The three-dimensional design is loaded onto a computer display in a bulldozer cab. The display guides the machine operator in grading to the plan, eliminating the need to follow stakes and other external visual indicators. Significant improvements in productivity result, and mistakes and rework are reduced. The design data is then used by contractors across the site for the precise layout of foundations, utilities, walls and ceilings using Trimble's laser leveling and alignment tools. In the future, changes to the plan will be com- municated directly to the bulldozer through a wireless link. Productivity and status information can be made available in real-time to the site superinten- dent, allowing improved scheduling and early remedial actions. Geographic Information Systems— mapping diseased trees in a forest • Data: The user records tree locations to meter- level accuracy with a GPS-enabled GIS handheld data collector, adds notes about condition and other factors, and may take photos with a digital camera, with a position reference. • Information: Collected data is loaded into a GIS database at the office that correlates position, descriptions, photos and other data for each tree and allows infor- mation to be easily retrievable. 9 • Solution: Software pro- duces maps, navigation instructions to return to trees, to-do lists of required activities, trends and other aids. • Information: Collected yield data is loaded into a database that includes fertilizer and other chemical applications by location and allows correlation of yields to inputs. • Solution: Using the database for analysis, the farmer creates an optimized fertilizer and chemical "prescription" that improves yield and minimizes costs and environmental impact. The farmer applies fertilizer and chemicals based on that pre- scription with GPS-enabled variable rate applicators. In the future, the farmer will be able to access data relating to a specific field section from a remote database via a wireless link. Component Technologies — finding pasta in Tokyo • Data: The user, who is visiting Tokyo, is able to determine his or her location on a map displayed on a personal data assistant (PDA). The PDA is location-enabled by a tiny embedded GPS module or chipset made possible by Trimble technology. In the future, a worker in the field, discovering a new condition, will access remote data through a wireless link. Agriculture — managing the field • Data: A farmer automatically collects yield levels to meter-level accuracy with yield monitors that are geo-referenced with GPS. • Information: The user accesses a directory of nearby Italian restau- rants and receives directions to each restaurant. • Solution: The user not only accesses the location of nearby restaurants but also views, through a wireless connection, current restaurant reviews and menus, and makes a reservation from the PDA. In the future, every cell phone and PDA may become a location-enabled information device. Real-World Solutions INTEGRATING OUR CAPABILITIES The technologies embedded in Trimble’s products and services represent the foundation of our success. Total success requires the combination of those tech- nologies with other, less tangible, elements to create a total solution for the user. The quality and passion of Trimble employees, the competency and vision of their management, and our partners’ capabilities fuel that success. Trimble has more than 2,000 employees in 20 countries around the world. Some are shown on these pages. This international workforce provides us with local insight into each of our markets and enables us to meet the needs of each customer. Our employees produce new ideas and the drive to make Trimble a better company in many ways: • In production and distribution—Dealers soon will be able to order Trimble products through one of two Regional Fulfillment Centers (RFC)—one in North America and one in Europe. The RFCs and a new order entry system will make it easier to do business with Trimble—one order, one shipment, one invoice. 10 Sunnyvale, California Corvallis, Oregon Hook, England Dayton, Ohio Westminster, Colorado Our Employees • In sales —Selling products with cutting-edge technology requires a sales force that can "concept sell." Through its own sales personnel and its distribution partners, Trimble puts thousands of feet on the street every day. Trimble has assembled an impressive sales capability and is continually upgrading that capability through training and new support programs. • In support—Trimble leverages its global footprint to enable quick-reaction support to its distribution partners and key customers around the clock. We also use the Internet to increase access to our acquired knowledge of product and customer data. • In the lab —Trimble engineers continue to generate the advanced ideas and products that meet our customers’ needs. Even in this challenging year, we increased our R&D investments over previous years to ensure tomorrow’s growth. • In the end result—Intensive focus on product quality has lowered the defect rate for our high-volume components deliveries to below 500 parts per million (0.05%). These efforts led to receipt of the coveted QS-9000 certification, an internationally recognized quality endorsement for automotive suppliers. 11 Danderyd, Sweden Höhenkirchen, Germany Our Employees Raunheim, Germany Christchurch, New Zealand EXECUTIVE OFFICERS BOARD OF DIRECTORS SHAREHOLDER INFORMATION Steven W. Berglund President and Chief Executive Officer Robert S. Cooper, Ph.D., Chairman Titan Atlantic Aerospace Steven W. Berglund Trimble Navigation Limited John B. Goodrich, Secretary Wilson, Sonsini, Goodrich & Rosati William Hart Hart Ventures Ulf J. Johansson, Ph.D. Europolitan Holdings AB Bradford W. Parkinson, Ph.D. Dept. of Aeronautics and Astronautics, Stanford University Mary Ellen Genovese Chief Financial Officer Karl G. Ramstrom Sr. Vice President General Manager, Engineering & Construction Division Michael W. Lesyna Vice President General Manager, Mobile Solutions Division 12 Alan R. Townsend Vice President General Manager, Field Solutions Division Dennis L. Workman Vice President General Manager, Component Technologies Division William C. Burgess Vice President Human Resources Joseph F. Denniston, Jr. Vice President Operations Irwin L. Kwatek Vice President & General Counsel Bruce E. Peetz Vice President Advanced Technology & Systems John E. Huey Treasurer Anup V. Singh Corporate Controller Executive Officers and Board of Directors Corporate Headquarters: Trimble Navigation Limited 645 North Mary Avenue Sunnyvale, California 94085 Phone: (408) 481-8000 Fax: (408) 481-2218 Independent Auditors: Ernst & Young LLP Palo Alto, California Transfer Agent & Registrar: Mellon Investor Services LLC 85 Challenger Road Ridgefield Park, NJ 07660 Phone: (800) 589-9836 Foreign Shareholders: (201) 329-8660 TDD for Hearing Impaired: (800) 231-5469 for U.S.A. (201) 329-8354 for foreign http://www.melloninvestor.com Investor Relations Contact: Brian Siegel (408) 481-6914 investor_relations@trimble.com Additional Information The Company's annual report on Form 10-K, as filed with the Securities Exchange Commission, is available through the Investor Relations portion of the Company's website at: http://www.trimble.com/ir_reports.html Trimble Investors Information: Traded: The NASDAQ Stock Exchange Symbol: TRMB Closing price for year-end: $16.21 Closing year range: $12.89–$28.50 Trimble’s Web Site: http://www.trimble.com © Copyright 2002, Trimble Navigation Limited. All rights reserved. The Globe and Triangle, Trimble, EZ-Guide, Laserstation, and M-Loc are trademarks of Trimble Navigation Limited. Ag GPS, GPS Total Station and GPS Pathfinder are trademarks of Trimble Navigation Limited registered in the United States Patent and Trademark Office. All other trademarks are the property of their respective owners. TRIMBLE LOCATIONS WORLDWIDE CORPORATE HEADQUARTERS INTERNATIONAL SALES CENTERS Trimble Navigation Limited 645 North Mary Avenue Sunnyvale, CA 94085 Phone: 408-481-8000 OPERATIONS United States Trimble Information Services 7408 West Detroit Street Suite 100 Chandler, Arizona 85226 Trimble Rockies 7403 Church Ranch Boulevard Westminster, Colorado 80021 Trimble Software 5901 Peachtree Dunwoody Road NE Suite A300 Atlanta, Georgia 30328 Trimble Engineering & Construction Division 5475 Kellenburger Road Dayton, Ohio 45424 Tripod Data Systems 345 SW Avery Avenue Corvallis, Oregon 97333 International Trimble terraSat Haringstrasse 19 D-85635 Höhenkirchen-Siegertsbrunn Germany Trimble Jena Carl-Zeiss Promenade 10 D-07745 Jena Germany Trimble Kaiserslautern Am Sportplatz 5, D-67661 Kaiserslautern Germany Trimble New Zealand 11 Birmingham Drive P.O. Box 8729 Riccarton, Christchurch New Zealand Trimble Sweden Box 64, Rinkebyvagen 17 182 11, Danderyd Sweden Europe Trimble Austria Linke Wienzeile 110 A-1060 Wien Austria Trimble Belgium Oostjachtpark 9 Sint-Niklaas, 9100 Belgium Trimble France Parc Hightec VI 9, avenue de Canada Les Ulis 91966 Courtabceuf Cedex France Parc d’Affaires La Breteche Batiment O Rennes Saint Gregoire France Trimble Germany Am Prime Parc 11 D-65479 Raunheim Germany Trimble Italy Largo Temistocle Solera, 7 00199 Rome Italy Trimble Netherlands Prof. Dr. Dorgelolaan 20 5613 AM Eindhoven Netherlands Trimble Russia 23, 1st Tverskaya-Yamskaya St. Moscow, 125047 Russia Trimble Spain Via de las Dos Castillas No. 33 Atica. Edificio 6. Despacho B-2 28224 Pozuelo de Alarcon Madrid Spain Trimble UK Trimble House Meridian Office Park Osborn Way, Hook Hampshire RG27 9HX U.K. Mensura House Blackstone Road Huntingdon, Cambridgeshire PE29 6EH U.K. Pacific Rim Trimble Australia Level 1/123 Gotha Street Fortitude Valley QLD 4006 Australia Trimble China Suite 16D, Building 2, Epoch Center 4 Beiwa Road, Haidian District Beijing, P.R. China 100081 Trimble Japan Shin-Ohashi Riverside Building 101 1-8-2, Shin-Ohashi, Kohtoh-ku Tokyo 135-0007 Japan Trimble Korea 27th Fl, Korea World Trade Center Suite 107 159-1 Samsung-dong, Kangnam-gu Seoul 135-729 Korea Trimble Singapore 88 Marine Parade Road 22-06, Parkway Parade Singapore 449269 Singapore Middle East Trimble Dubai LOB 14322 PO Box 17760 Jebel Ali Free Zone Dubai UAE The Americas Trimble Canada 41 Horner Avenue, Unit 5 Toronto, Ontario M8Z 4X4 Canada Trimble Latin America 6505 Blue Lagoon Drive Suite 120 Miami, Florida 33126 Trimble Mexico Lerdo De Tejada 2042, c.p. 44130 Guadalajara Mexico 

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