DGAP-News: SHW AG / Key word(s): Change of Personnel
Aalen, 9 April 2018. The Chairman of the Supervisory Board of SHW AG, Georg Wolf, has resigned from his position as Chairman of the Supervisory Board of the Company effective to the end of day on 6 April 2018 for personal reasons.
The Company heartily thanks Mr. Wolf for his successful work for the Company over many years and wishes him all the best for his professional and personal future.
Mr. Wolf joined the Supervisory Board of SHW AG at the beginning of 2014 and has been its chairman since this time.
Mr. Wolf has been a major force in the development of SHW AG. During his term as Chairman of the Supervisory Board, the decision was made to internationalise the pump activities and implement this decision, whereupon the Company transformed into a globally positioned supplier of CO2-relevant pumps and engine components.
Until further notice, the Supervisory Board will be chaired by Klaus Rinnerberger, who has been with the Supervisory Board since the beginning of the year as its Deputy Chairman.
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 cars (including circuit boards) and Truck & Off-Highway applications (e.g., trucks, agricultural and construction machinery, 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 lightweight composite brake discs made of a combination of an iron friction ring and an aluminium pot. The SHW Group's customers include renowned automobile manufacturers, manufacturers of commercial, agricultural and construction vehicles as well as other suppliers to the automotive industry. Currently, the SHW Group has five production sites in Germany located in Bad Schussenried, Aalen-Wasseralfingen, Hermsdorf, Tuttlingen-Ludwigstal and Neuhausen ob Eck, sites in Brazil (São Paulo) and China (Kunshan) and a sales and development centre in Toronto (Canada). With about 1.350 employees on average, the Company achieved Group sales of slightly above EUR 400 million in the fiscal year 2017. Further information is available at www.shw.de
Head of Investor Relations & Corporate Communications
Telephone: +49 0 7361 502 462
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.
The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. SHW AG does not intend to register any securities referred to herein under the Securities Act or with any securities regulatory authority of any state or other jurisdiction in the United States in connection with this announcement.
|Phone:||+49 7361 502-1|
|Fax:||+49 7361 502-674|
|Listed:||Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|