Press release February 2012 TFL successfully closed the business year 2011 TFL, the market leader in leather chemicals, successfully closed the business year 2011. Sales exceeded budget and the envisaged goals were attained, despite negative factors due to rising raw materials prices and exchange rate fluctuations depressing margins. TFL’s range of products and services continues to be highly appreciated by our customers and is the focus of strong demand. In particular our systems for optimizing the chemicals essential for leather production make TFL the ideal partner for the industry at a time of steadily rising raw materials costs. Given the available innovations and solid cash flow management coupled with the support of our stakeholders, who provide adequate liquid funds, TFL is well prepared to face the years ahead.