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Schaltbau Holding AG: Management change at Schaltbau subsidiary Pintsch

06.06.2019 / 07:30
The issuer is solely responsible for the content of this announcement.

  • Tilo Brandis appointed sole managing director
  • Primary objective is to guide Schaltbau’s Stationary Transportation Technology segment back to sustainable profitability
  • Orderly transfer of responsibility

Munich/Dinslaken (Germany), 6 June 2019. With effect from 19 August 2019, the Schaltbau subsidiary Pintsch GmbH (“Pintsch”) will be under new management. As of this day, Tilo Brandis, born in 1967, has been named the new spokesman of its board of directors. The business activities of Pintsch represent the Stationary Transportation Technology segment within the Schaltbau Group. Dr Dirk Pieler, the board’s current spokesman, will remain available until the end of September 2019 to ensure that responsibility is handed over in an orderly manner before resigning from the board of directors at the end of his contract and at his own request. Dr Rudo Grimm, member of the board of directors at Pintsch, is also leaving the company at the end of his contract, at the end of 2019, and at his own request.

Tilo Brandis has over 20 years of experience in sales and operations, which he gained in various leading positions, particularly in the field of stationary railway transportation technology. During that time, he successfully introduced a variety of new technologies and achieved stable growth. Most recently, during a three-year period he acted as managing director in the track ties division of Vossloh, which is domiciled in the USA.

Volker Kregelin, Schaltbau Holding AG’s Chief Officer for Mobile and Stationary Transportation Technology, commented: “With Tilo Brandis, we have gained a highly knowledgeable industry expert who is very well connected within the German rail sector and who will also significantly push new business for Pintsch at international level. This will provide Schaltbau’s Stationary Transportation Technology segment with a broader base for stable business development. The Executive Board would like to thank Dr Dirk Pieler and Dr Rudo Grimm for their fine contributions and in particular for their successful restructuring work. The Executive Board wishes them both all the very best for the future.”

Tilo Brandis added: “For decades, Pintsch has enjoyed an outstanding reputation among its customers due to the high quality of its products and stable market share. I greatly look forward to contributing my wealth of experience and playing a key role in the expansion of the business.”

Wolfgang Güssgen
Head of Investor Relations & Corporate Communications
Schaltbau Holding AG
Hollerithstrasse 5
81829 Munich
T +49 89 93005-209

About Schaltbau
With annual sales in the region of EUR 500 million and around 3,000 employees, the Schaltbau Group is an internationally leading supplier of components and systems in the field of transportation technology and the capital goods industry. With Schaltbau, Bode and Pintsch as their core brands, Schaltbau Group companies develop a wide range of high-quality technologies and customer-specific solutions for rolling stock, rail infrastructure, road vehicles and a range of other industrial applications. The Group’s portfolio includes high- and low-voltage components, door and boarding systems, interior fittings for rolling stock, complete level crossing systems, and shunting and signal technology. Its innovative products make Schaltbau a key industrial supplier, particularly in the field of transportation technology and for industrial applications that require DC switching technology in future-oriented markets such as new energy, electromobility, the DC industry and smart building.

This corporate news contains statements regarding future developments based on information currently available. As a result of risks and uncertainties, actual outcomes could differ from the forward-looking statements made. Schaltbau Holding AG does not intend to update these forward-looking statements.

06.06.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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