core sector communique

Jan Olaf Siebert new Chief Executive Officer (CEO) of KraussMaffei AG

(Munich, October 5, 2011) The Supervisory Board of KraussMaffei AG, a worldwide leading manufacturer of plastic and rubber machinery and systems, appointed Jan Siebert as Chief Executive Officer (CEO) effective from January 1, 2012. He will succeed Dr. Dietmar Straub, who is managing the activities of KraussMaffei Group since April 2007 and who is leaving the company at his own request.

Successful manager with international engineering experience “Jan Siebert is a successful global business leader with an outstanding track record in the engineering sector. I welcome his appointment and I am convinced that he will strengthen the business activities of the KraussMaffei Group in core markets and expand the presence of our company in emerging markets worldwide. I wish him and the whole management team every success”, Dr. Kurt Kinzius, Chairman of the Supervisory Board, said.

After graduating with a degree in aerospace engineering, Jan Siebert worked for 18 years in well-known international industrial companies. He has held various executive positions being responsible for corporate strategy, R&D, sales and marketing. Currently, he is President and Chief Executive Officer of GEA Heat Exchangers GmbH. During the past seven years, he has focused on the globalization of the business by expanding sales in Eastern Europe, China and Brazil. In 2010, the company employed around 8,000 people and generated sales of approx. 1.5 billion euros. Before joining the GEA Group, Jan Siebert was Member of the Executive Board at Deutsche Nickel AG with responsibility for sales, marketing and R&D.

Gratitude to Dr. Dietmar Straub for his formidable contribution to the success of KraussMaffei over the past years Dr. Dietmar Straub is leaving KraussMaffei at his own request on December 31, 2011. “The Supervisory Board thanks Dr. Straub for his strong contribution to the success of KraussMaffei and for his commitment and constructive collaboration over the past years. Under Dr. Straub’s management the
corporate strategy of the KraussMaffei Group was successfully realigned and he managed the economic crises activities very well. We regret Dr. Straub’s decision to leave the company to pursue new business opportunities and I wish him all the best for his future activities“, Dr. Kinzius concluded.

KraussMaffei Group company profile

The KraussMaffei Group is among the world’s leading suppliers of machinery and systems for producing and processing plastics and rubber. Its products and services cover the whole spectrum of injection and reaction molding and extrusion technology, giving the company a unique position in the industry. The KraussMaffei Group is innovation-powered, supplying its products, processes and services as standard or custom solutions which deliver sustained added value along the customer’s value-adding chain. The company markets it’s offering under the KraussMaffei, KraussMaffei Berstorff and Netstal brands to customers in the automotive, packaging, medical, construction, electrical, electronics and home appliance industries. Continuing a long tradition of engineering excellence, the international KraussMaffei Group currently employs around 3,900 people. With a global network of more than 30 subsidiaries and more than 10 production plants, supported by around 570 sales and service partners, the company is close to customers around the world. KraussMaffei has been headquartered in Munich since 1838.