Press release
Demag Cranes AG Renews Board Membership for Rainer Beaujean and Thomas H. Hagen for a Further Five Years Ahead of Schedule
Düsseldorf, 1 October 2009. With effect from 1 October 2009, the Supervisory Board renewed the membership board contracts of the Members of the Board Rainer Beaujean and Thomas H. Hagen for a further five years before the existing contracts were due to terminate. The contract of Rainer Beaujean would have normally elapsed on 31 May 2010 while that of Thomas H. Hagen on 30 April 2010.
Rainer Beaujean (41) has been a Member of the Board and Chief Financial Officer (CFO) of the Group since
1 June 2007. Thomas H. Hagen (47) has been a Member of the Board since 1 May 2007 and is Chief Operating Officer (COO) of the Group.
About Demag Cranes AG
The Demag Cranes Group is one of the world's leading suppliers of industrial cranes and crane components, harbour cranes and terminal automation technology. Services, in particular maintenance and refurbishment, are another key element of the Group’s business activities. The Group is divided into the business segments Industrial Cranes, Port Technology and Services and has strong and well-established Demag and Gottwald brands. Demag Cranes sees its core competence in the development and construction of technically sophisticated cranes and hoists as well as automated transport and logistics systems in ports and terminals, the provision of services for these products and the manufacture of high-quality components.
As a global supplier, Demag Cranes manufactures in 16 countries on five continents and operates a worldwide sales and service network that is present in over 60 countries through its subsidiaries, representative offices and a joint venture. In financial year 2007/2008, the Group, with its 6,093 employees, generated revenue of EUR 1,225.8 million. Since the end of June 2006, the Demag Cranes share (WKN: DCAG01) has been listed in the Prime Standard of the German Stock Exchange and is traded on various indices including the MDAX®.
Demag Cranes AG. We Can Handle It.
Conditions for Forward-Looking Predictions
This press release contains forward-looking statements relating to the business, financial performance and earnings of Demag Cranes AG and its subsidiaries and associates. Forward-looking statements are based on current plans, estimates, projections and expectations and are therefore subject to risks and uncertainties, most of which are difficult to estimate and which in general are beyond the control of Demag Cranes AG. Consequently, actual developments as well as actual earnings and performance may differ materially from those which are explicitly or implicitly assumed in the forward-looking statements. Demag Cranes AG does not intend or accept any obligation to publish updates of these forward-looking statements.
Nikolai Juchem
Head of Corporate Communications and Marketing
Phone: +49 (0) 211 7102-1019
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Contact for investors and analysts:
Horst Thelen
Head of Investor Relations
Phone: +49 (0) 211 7102-1210
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