Coperion: Manfred Eiden as Chief Executive Officer

Coperion Group, the international systems and services business headquartered in Stuttgart, is pleased to announce the appointment of Manfred Eiden as new Chief Executive Officer of the Group from September 1st, 2005. Manfred Eiden takes over from interim Chief Executive Officer, Wolfgang-Dietrich Hein.

Since 1976 Manfred Eiden has had a distinguished career building the Kone Group; culminating in his last appointment from 2001 to 2004 as President of Kone Corporation, the elevators, escalators and cargo handling provider. Prior to this, Mr Eiden held senior positions in the Kone Group in North America and Europe. During his four-year period as President, Kone Corporation’s share price nearly doubled, following more than doubled sales and net income with substantial contributions from acquisitions and the development of equipment services.

Eiden’s appointment as CEO aims to further strengthen Coperion’s strategy to expand its market leadership in its core business. Coperion offers a full range of products and services for various industries, such as plastics, food, chemicals and minerals industries.

Eiden’s profound expertise in the services provider industry will support the accelerated growth in Coperion’s already successful value-added services division, providing after-market parts, components and services including life-time asset management for customers worldwide.

Commenting on his appointment, Philip Buscombe, Chief Executive of West Private Equity, said: “We are very pleased that Manfred Eiden is joining Coperion as Chief Executive and welcome him to the Board. His broad global experience in successfully building and running industrial equipment and services businesses and his proven track record of creating shareholder value will be invaluable as Coperion continues its growth.”

Manfred Eiden added: “I am excited to be joining Coperion at this stage of its development, and look forward to working with all employees to strengthen the Group’s position as a truly global player, focusing on customer requirements to deliver profitable growth in both the systems and services businesses.”

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