Manz Automation AG: Supervisory Board extends contracts with the Managing Board and bids farewell to Otto Angerhofer as he enters retirement
Managing Board contracts with Martin Hipp and Volker Renz extended by three years in each case / Otto Angerhofer will retire from the company on July 31, 2009
The Chairman of the Supervisory Board, Dr. Jan Wittig, thanked Otto Angerhofer on behalf of the Managing and Supervisory Boards: "We would like to thank Otto Angerhofer for his personal commitment and his extraordinary work for our company. He played a key role in our company's growth and success, and he provided vital impetus with his ideas. Most recently, the successful integration of the acquired Christian Majer GmbH & Co. KG and the resulting new division for Li-ion batteries is primarily due to Mr. Angerhofer."
Martin Hipp (42) has been CFO since March 1, 2007 and is also responsible for HR and IT. Volker Renz (42), COO, has headed Procurement and Logistics as well as Production and Services since May 1, 2007. Both of these Board members' contracts would normally have expired in the spring of 2010. Dr. Jan Wittig explained this move: "In taking this step we are honoring the successful, foresighted work by the Managing Board, especially given the current economy. Together with the CEO Dieter Manz, the company thus has a wellestablished, stable management team to continue to maintain and further expand Manz Automation's market leadership."
About Manz AG
Reutlingen-based Manz Automation AG (ISIN: DE000A0JQ5U3) is one of the world's leading technology providers in terms of market shares for systems for automation, quality assurance and laser process technology for the photovoltaic industry and for automation and wet chemicals for the LCD industry. The Manz Group's core competences are in robotics, image processing, laser technology, wet chemicals as well as control and drive technology. The Manz Group's key strategic divisions are photovoltaic (systems.solar), LCD (systems.lcd) and OEM systems (systems.aico) for automation in various industrial sectors and the life science industry. The Manz Group has sales and service branches in Germany, Taiwan, the USA, China, South Korea, India and Spain. In addition, the Manz Group has its own production facilities in Germany, Slovakia, Hungary, Taiwan and China. The Manz Group recorded revenues of € 236.5 million and an EBIT margin of 12.1% in fiscal year 2008. In the first three months of fiscal year 2009 the Manz Group recorded revenues of € 16.49 million.