Given the growth opportunities in the global project business with HIRSCH satellite plants and HIRSCH pallet plants, new tasks have arisen in finance and investment, which have resulted in a need to enlarge the HIRSCH Servo AG's managing board. The supervisory board is therefore preparing to appoint Mr Andreas Zois (38) as the new chief financial officer effective November 2008.
With his comprehensive experience in bank management, Andreas Zois will also be able to leverage innovative financing solutions for the global project business, thus helping to promote growth in the HIRSCH Servo Group. He started his career with Raiffeisenlandesbank Kärnten AG in 1991 and currently works as the head of the Global Markets section at Hypo International AG.
Chief executive officer Kurt Hirsch is responsible for strategy in the entire HIRSCH Servo Group. He will also increasingly control the inroads made by the HIRSCH satellite plants and ICF houses into the global market in the future. In this area the global market potential is huge due to the strong demand for high energy efficiency with eco-friendly building materials.
In the future Dr. Carsten Brinkmeier will be the board member responsible for developing the Technology division to meet increasing requirements in the project business. Up to now his remit has primarily focused on restructuring the mechanical engineering activities in addition to classic CFO tasks.
Siegfried Wilding is the board member responsible for the development of EPS Processing with the Packaging and Insulation divisions and therefore the expansion activities in Eastern Europe.
The remaining board member, Kuno E. Waidmann, is responsible for developing the Logistics division with the market launch of the HIRSCH pallet. He continues to be in charge of central marketing.
All the approvals required for enlarging the board are being prepared for the 13th Annual General Meeting on November 25, 2008. The majority shareholder, Kurt Hirsch Holding GmbH, proposes to support board enlargement by tabling a motion to amend the articles of association at the Annual General Meeting.
The next date on the financial calendar is October 31, 2008 when the results for fiscal 2007/08 will be announced.
*The HIRSCH Servo Group is the EPS specialist on the Vienna Stock Exchange with manufacturing facilities in Austria, Hungary, Poland, Slovakia, Italy and Romania. EPS products (EPS stands for expandable polystyrene and is better known under the brand name of Porozell®) support a variety of functions, including energy savings, as well as sustainable and eco-friendly growth. Their wide-ranging applications cover packaging, shape-molded parts, building insulation, modular boards for underfloor heating, construction blocks, Thermozell® lightweight concrete products and transport pallets.
For further information, please contact Michaela Promberger, Tel: +43 4277 2211-312,
Fax: +43 4277 2211-370, E-mail: michaela.promberger@hirsch-gruppe.com, www.hirsch-gruppe.com
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