MAN Ferrostaal to strengthen biofuels segment with new Member in the Executive Board

15.10.2007 -

MAN Ferrostaal is strengthening its Projects Division. On 15 October, 2007, Dr. Ing. Stephan Reimelt joined the company as an additional member of the Executive Board after the Supervisory Board had agreed on his appointment. Dr. Reimelt is to expand the strategic business segment of Biofuels and to intensify work in the project development area. The company is involved in building plants for producing first generation biofuels (biodiesel and bioethanol) and is planning the construction of second generation plants (BTL -Biomass To Liquid).

In the rapidly growing biofuels market, MAN Ferrostaal has already carved out initial successes. Two plants for producing biodiesel are currently under construction, and further projects for biodiesel and bioethanol plants are in the pipeline. The company plans to expand this business significantly under the guidance of the new member of the Management Board: "With the appointment of Stephan Reimelt, we have managed to get one of the top experts in the field of biofuels on board," said Dr. Matthias Mitscherlich, CEO of MAN Ferrostaal AG and Chairman of the Executive Board of MAN AG. At Lurgi AG, Stephan Reimelt was extremely successful in setting up and expanding a competence center for biofuels. Prior to leaving the company, he was the Board Member responsible for worldwide sales, project development, marketing and service.

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.