Dr. Matthias Mitscherlich new Chairman of the North Africa Middle East Initiative of German Business

24.01.2006 -

Dr. Matthias Mitscherlich, Chief Executive Officer of MAN Ferrostaal AG and a member of the Executive Board of MAN AG, assumed the chairmanship of the North Africa Middle East Initiative of German Business (NMI) on 23 January 2006, taking over from Dr.-Ing. Axel
Wippermann, who had successfully headed the Initiative since 3 March 2003.

In the course of his international career, Dr. Mitscherlich has also held the post of Managing Director of Klöckner INA GmbH as well as Chief Executive Officer of Athens Airport.

On the occasion of assuming his new office, Dr. Mitscherlich stated: “North Africa and the Middle East region are direct neighbours of Europe. They account for more than 50 percent of the world's reserves of the key energy resources oil and gas. At the same time, the countries in the region are becoming increasingly important as partners for trade and investment on the part of German industry. With over 500 million people, the majority of whom are young, they represent a huge potential for future growth and as a market for German products. As NMI Chairman, I will do everything in my power to further intensify dialogue with the partners of German business and industry within the region. German companies have a keen interest in seeing the markets in the region being opened up and liberalised. In view of the strong role of the state in these countries, ensuring political support for business and industry will remain a core theme of the NMI.”

The NMI was set up and is funded by the Federation of German Industries (BDI), the Association of German Chambers of Industry and Commerce (DIHK), the German Near and Middle East Association (NuMOV), the Federation of German Wholesale and Foreign Trade (BGA), the Association of German Banks (BdB), and the Africa Society (AV).

About MAN Ferrostaal AG:

MAN Ferrostaal is a worldwide supplier of industrial services for the construction of large-scale industrial plants and machine supply. As a general contractor for plant construction, the company offers project development, project management and financing solutions for turnkey plants in the areas of solar thermal power plants as well as biofuels, petrochemical and industrial plants. In ccoperation with manufacturers of machines and production lines, MAN Ferrostaal offers sales and services in the areas of automotive industries, print and packaging, piping, ships and transport solutions. With 4,200 employees MAN Ferrostaal is represented in more than 60 countries. The company achieved a turnover of EUR 1.4 billion in 2007.

MAN Ferrostaal is a subsidiary of MAN Aktiengesellschaft, Munich. The MAN Group is one of Europe’s leading manufacturers of engineering equipment and vehicles, generating annual sales of around EUR 16 billion. MAN supplies products, systems and services to the capital goods industry and employs approx. 55,000 people worldwide. The core areas operated by the MAN Group, Commercial Vehicles, Industrial Services, Diesel Engines and Turbomachines, all hold leading positions in their markets. MAN is a member of the DAX German Share Index, Germany’s top 30 public limited companies.