STOCKHOLM, Sweden, June 9, 2005 (PRIMEZONE) -- As from July 1, 2005 Munters will be organized in three global Divisions; Dehumidification, MCS (Moisture Control Services) and HumiCool. The Group is presently organized in three Regions, with each Region divided into the three Divisions.
Munters new organization will further focus on gross margin improvements and on sales initiatives towards international customers. Repeating successful applications in new markets will be easier. The prerequisites for a rational and standardized product and service development become stronger and are expected to contribute to a more concentrated product portfolio and a stronger service offering.
Mike McDonald, currently President Region Americas, has been appointed President Division Dehumidification. The President Division MCS has been recruited externally and will take up his new position latest December 1, 2005. Hannu Saastamoinen, currently Division President HumiCool Europe, has been appointed President Division HumiCool.
As from July 1, Munters Group Management consists of CEO Lennart Evrell, the three Division Presidents listed above, CFO Bernt Ingman and Soren Sjostrom, VP HR and Corporate Communications.
Erik Williamsson, currently President Region Asia and member of the Group Management, will retire as of February 1, 2006, but will continue with a number of board assignments within the Group.
"We think that the time is right to adapt the organization to the increasing global opportunities relating to customers, manufacturing, product development and sourcing. The organization has been modified gradually over the past years as a preparation to the step we now take," says Lennart Evrell, CEO.
Financial information
Munters "segment reporting" will be changed from the third quarter to reflect the new organization. Reporting for the first half of 2005 will follow the present organization. The global Divisions will be the ``primary segments" and thus be reporting Order Intake, Net Sales, Operating Earnings, Operating Capital and Employees. The Regions will be the "secondary segments" and consequently Operating earnings will no longer be reported by Region.
Lennart Evrell Chief Executive Officer
Munters is the world leader in humidity control with services and products for water and fire damage restoration, dehumidification, humidification and air cooling. Customers are found in a wide range of segments, the most important being insurance-, utilities-, food-, pharma- and electronics- industries. Manufacturing and sales are carried out via the Group's own companies in more than 25 countries in Europe, Americas, and Asia. The Group has 3,064 employees and net sales of SEK 4,543 million. Munters is listed on Stockholmsborsen, the Stockholm Stock Exchange. For more information see www.munters.com
This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download:
http://wpy.waymaker.net/client/waymaker1/WOLReleaseFile.aspx?id=106282&fn=wkr0010.pdf