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    DUE   DE0005565204

DÜRR AG

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Dürr : Ralf W. Dieter takes over as CEO of HOMAG Group AG in a double capacity

12/20/2020 | 01:15pm EDT

Bietigheim-Bissingen, December 15, 2020 - Ralf W. Dieter, CEO of Dürr AG, will additionally assume the position of CEO of HOMAG Group AG as of January 1, 2021. He will replace Pekka Paasivaara, who will leave the company by best mutual agreement.

The HOMAG Group has been part of the Dürr Group since 2014 and is the worldwide leading supplier of woodworking machinery. In the past year, it generated sales of € 1.3 billion.

'The HOMAG Group has developed into an important pillar of the Group. In the coming years, we aim to successively improve earnings. This is based on the optimization measures which we are currently implementing at HOMAG together with employees and managers,' said Ralf W. Dieter. The focus of optimization is on the further development of organization and processes, the implementation of integrated IT systems, product modularization and innovations.

Ralf W. Dieter will hand over his previous position as Chairman of the Supervisory Board of HOMAG Group AG to Gerhard Federer. Mr. Federer has been a member of the Supervisory Board of HOMAG Group since 2010 and is also Chairman of the Supervisory Board of Dürr AG. The current CEO of HOMAG, Pekka Paasivaara, will be leaving the company at the end of the year after having announced in September that he did not intend to seek another term of office.

Board of Management reduced to three members
As announced, Pekka Paasivaara will also leave the Board of Management of Dürr AG at the end of the year. In this context, the Board of Management will be reduced to three members. Besides Ralf W. Dieter, they include Dr. Jochen Weyrauch and Dietmar Heinrich. As Deputy Chairman, Dr. Jochen Weyrauch is primarily responsible for the automotive and environmental technology business, which is bundled in the Dürr Systems subgroup. Dietmar Heinrich is CFO and also responsible for the business of the Schenck subgroup, which is primarily active in balancing technology.

The Dürr Group is one of the world's leading mechanical and plant engineering firms with extensive expertise in automation and digitalization/Industry 4.0. Its products, systems and services enable highly efficient manufacturing processes in different industries. The Dürr Group supplies sectors like the automotive industry, mechanical engineering, chemical, pharmaceutical and woodworking industries. It generated sales of € 3.92 billion in 2019. The company has around 16,200 employees and 112 business locations in 33 countries. The Group operates in the market with the brands Dürr, Schenck and HOMAG and with five divisions:

  • Paint and Final Assembly Systems: paint shops as well as final assembly, testing and filling technology for the automotive industry
  • Application Technology: robot technologies for the automated application of paint, sealants and adhesives
  • Clean Technology Systems: air pollution control, noise abatement systems and coating systems for battery electrodes
  • Measuring and Process Systems: balancing equipment and diagnostic technology
  • Woodworking Machinery and Systems: machinery and equipment for the woodworking industry

This publication has been prepared independently by Dürr AG/Dürr group. It may contain statements which address such key issues as strategy, future financial results, events, competitive positions and product developments. Such forward-looking statements are subject to a number of risks, uncertainties and other factors, including, but not limited to those described in disclosures of Dürr AG, in particular in the chapter 'Risks' in the annual report of Dürr AG. Should one or more of these risks, uncertainties and other factors materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performances or achievements of the Dürr group may vary materially from those described in the relevant forward-looking statements. These statements may be identified by words such as 'expect,' 'want,' 'anticipate,' 'intend,' 'plan,' 'believe,' 'seek,' 'estimate,' 'will,' 'project' or words of similar meaning. Dürr AG neither intends, nor assumes any obligation, to update or revise its forward-looking statements regularly in light of developments which differ from those anticipated. Stated competitive positions are based on management estimates supported by information provided by specialized external agencies.

Our financial reports, presentations, press releases and ad-hoc releases may include alternative financial metrics. These metrics are not defined in the IFRS (International Financial Reporting Standards). Net assets, financial position and results of operations of the Dürr group should not be assessed solely on the basis of these alternative financial metrics. Under no circumstances do they replace the performance indicators presented in the consolidated financial statements and calculated in accordance with the IFRS. The calculation of alternative financial metrics may vary from company to company despite the use of the same terminology. Further information regarding the alternative financial metrics used at Dürr AG can be found in our → financial glossary on the web page.

Disclaimer

Dürr AG published this content on 15 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 December 2020 18:14:08 UTC


© Publicnow 2020
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NameTitle
Ralf Werner Dieter Chairman-Management Board
Dietmar Heinrich Chief Financial Officer & Member-Management Board
Gerhard Federer Chairman-Supervisory Board
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Anja Schuler Member-Supervisory Board
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