RAMIRENT PLC PRESS RELEASE 15.1.2009 AT 10:00 A.M.
MAGNUS ROSÉN TAKES OVER AS RAMIRENT GROUP CEO
Magnus Rosén, 46, [M.Sc.(Econ.), MBA] starts as CEO of the international
Ramirent Group today, 15 January 2009. Ramirent has operations in 13 countries.
Swedish-born Rosén joins Ramirent from BE Group, a leading steel trading and
service company, where he headed their Business Area Sweden. Before this, Rosén
worked for many years for the machine and equipment rental company Cramo.
Taking over as head of Ramirent, Magnus Rosén comments: ”The machine and rental
industry is currently facing a challenging phase, but the sector is my home turf
and the opportunity of leading one of the most prominent players in Northern and
Eastern Europe is truly exciting for me.”
Due to the market situation, Ramirent has been forced to adjust its operations.
”After many years of fast growth, we are entering a stabilisation phase where
the focus will be on safeguarding cash-flow and defending our profitability. We
have taken measures to reduce costs and increase efficiency to maintain
competitiveness during the economic downturn”, says Rosén.
“On the positive side, Ramirent has a strong balance sheet and a management team
with experience of managing during difficult times.
Ramirent's fleet is modern and suitable for different customer types. There is
no need for bigger investments at the present time.
“Having a Pan-European fleet that can be re-allocated according to the market
demands is also an asset,” says Rosén. “In the long term the rental business is
a growing industry, especially in Eastern Europe there is still great demand for
construction and renovation.”
Magnus Rosén succeeds Kari Kallio, who is retiring. Under Kallio's leadership
Ramirent grew through acquisitions and rapid organic growth, and doubled its net
sales.
An video interview and a high resolution image of Mr. Magnus Rosén is available
at www.ramirent.com>investor>governance.
Vantaa, 15.1.2009
RAMIRENT PLC
Magnus Rosén
FURTHER INFORMATION:
Magnus Rosén, CEO, tel. +358 20 750 2845 or email magnus.rosen@ramirent.com
DISTRIBUTION
NASDAQ OMX Helsinki
The main media
www.ramirent.com
Ramirent is the leading machinery rental company in the Nordic countries and in
Central and Eastern Europe. The Group has some 360 permanent outlets in 13
countries and is registered in Helsinki. Ramirent employs 4,000 people and in
2007 the consolidated net sales were EUR 634 million. Ramirent is listed on the
OMX Nordic Exchange Helsinki.
