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03-09-2012

MPC Industries is the New Owner of Ferrostaal

With the closing, Ferrostaal AG, Essen, officially belongs to MPC Industries GmbH, Hamburg, both Germany. Following the takeover the company will be rebranded to a GmbH and in future operate under the name MPC Ferrostaal GmbH. The company headquarters will remain in Essen.

The majority owner of MPC Industries GmbH is Axel Schroeder senior, together with his sons John Benjamin Schroeder and Axel Schroeder, who are also the sole shareholders of the MPC Group, Hamburg. A minority share in MPC Industries GmbH is held by an investor group centred around Commodore Constructing Co., Abu Dhabi.

The Ferrostaal Executive Board will in future be headed jointly by John Benjamin Schroeder (responsible for the Americas) and Klaus Lesker (Asia Pacific and Africa). Acting Executive Board members Kay Hanns Ewaldsen (COO) and Joachim Ludwig (CFO) will be retained on the new Executive Board. The Chief Executive Officer Jan Secher will leave the company in accordance with a Change of Control arrangement agreed with him. Chief Financial Officer Robert Moll has already resigned from his post.

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