as follows: • Restructure and modernize the curriculum to enhance the potential of students to meet the needs in a changing market; • Enhance the integration of education with hotel business (Education
enhance the potential of students to meet the needs in a changing market; • Enhance the integration of education with hotel business (Education-hotel integration); • Expand to new market segments by
Capital Expenditure Program We continue to invest in the business to enhance overall production, vertical integration and quality of earnings. Improved cash flows and ongoing commitment from shareholders
innova- tion and R&D capabilities, which align well with DTF’s core competencies. Through the acquisition, IVL will further enhance feedstock/PET integration and value-enhancement through captive NDC, a
2018 MD&A 7 Capital Expenditure Program We continue to invest in the business to enhance overall production, vertical integration and quality of earnings. IVL balance sheet and cash flow generation are
over the last eight quarters. Capital Expenditure Program We continue to invest in the business to enhance overall production, vertical integration and quality of earnings. IVL balance sheet and cash
invest in the business to enhance overall production, vertical integration and quality of earnings. IVL balance sheet and cash flow generation are strong, allowing us to invest significantly in our project
the PET industry, creating a diversified earnings stream in the form of the HVA businesses, integration into advantaged feedstocks and expansions in key geographies. As evident in Figure 1, earnings