DGAP-News: SHW AG / Key word(s): Change of Personnel
SHW AG: CFO Sascha Rosengart is leaving the company
Aalen, 10 February 2016. Mr Sascha Rosengart, Chief Financial Officer of SHW AG, is to leave the Company at the end of February. The Supervisory Board has accepted Mr Rosengart's request to leave the Company prematurely for personal reasons. This step has been taken in mutual agreement with the Supervisory Board. His role will be assumed temporarily by Andreas Rydzewski, Member of the Management Board, until a new Chief Financial Officer is appointed.
"Mr Rosengart made a significant contribution to the structuring of the Company's growth and SHW's internationalisation and thus to its transformation into a globally positioned supplier of CO2-relevant pumps and engine components", declares Georg Wolf, Chairman of the Supervisory Board. "I would like to thank Mr Rosengart for his excellent work during the last few years and we wish him all the best for the future, both professionally and personally."
The Company was established in 1365 making it one of the oldest industrial companies in Germany. Today, SHW AG is a leading automotive supplier providing products that make a substantial contribution to reducing fuel consumption and, consequently, to lowering CO2 emissions. In its Pumps and Engine Components business segment, the SHW Group develops and produces pumps for passenger vehicles and industry applications (e.g., trucks, agricultural and construction vehicles, stationary engines and wind farms) as well as engine components. The Brake Discs business segment develops and produces monobloc ventilated brake discs made of cast iron and composite brake discs made of a combination of an iron friction ring and an aluminium pot. The SHW Group's customers include renowned automotive manufacturers, manufacturers of commercial, agricultural, and construction vehicles as well as other suppliers to the automotive industry. Currently, the SHW Group has four production sites in Germany located in Bad Schussenried, Aalen-Wasseralfingen, Tuttlingen-Ludwigstal and Neuhausen ob Eck, one site in Brazil (Sao Paulo) and a sales and development centre in Toronto, Canada. Besides, SHW Automotive GmbH also holds a 51 per cent interest in the joint venture SHW Longji Brake Discs (LongKou) Co., Ltd., in LongKou, China. With just over 1,150 employees, the Company generated Group sales in fiscal year 2014 of EUR 430 million. Further information is available at: www.shw.de
This press release contains certain future-oriented statements that are based on current assumptions and forecasts made by the management of SHW AG. Various known and unknown risks, uncertainties and other factors may lead to the actual results, financial position, development or performance of the company deviating considerably from the appraisals specified here. The company assumes no obligation to update future-oriented statements of this nature or adapt them to future events or developments.
This announcement is for information purposes only and does neither constitute an offer to sell, purchase, exchange or transfer any securities nor a solicitation of any offer to sell, purchase, exchange or transfer any securities.
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|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart|
|End of News||DGAP News Service|