SAF-HOLLAND S.A.: Change in management at SAF-HOLLAND after successful refinancing

SAF-HOLLAND S.A. / Change of Personnel

02.12.2009 

Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.

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Luxembourg, December 2nd, 2009 - With the successful completion of
SAF-HOLLAND's new financing agreement, Dr. Reiner Beutel stepped down as
Chief Executive Officer (CEO) and Member of the Board of Directors
effective with  the Annual General Meeting on December 18, 2009. Dr. Beutel
has used his expertise and experience to lead the Company through a very
difficult restructuring phase. The operational restructuring of the Company
is taking effect and a sustainable  reduction in costs and working capital
has been achieved. With a positive EBIT, the Company was returned to
profitability in the third quarter. Dr. Reiner Beutel: 'After the
successful completion of the refinancing and implementation of the
operational restructuring measures, I will now turn my attention to new
challenges .' The Board of Directors would like to thank Dr. Beutel for his
contribution. Dr. Reiner Beutel's successor as CEO will be Mr. Rudi Ludwig.
After the restructuring, one of Rudi Ludwig's main tasks will be aligning
the Company for growth. Rudi Ludwig is a recognized expert in the industry
and a Member of the Board of Directors. Mr. Ludwig previously  served as
Chairman of SAF-HOLLAND's Management Board from 2003 to January 2009.

Company Profile
With more than EUR 800 million in sales in 2008 and approximately 3,000
employees, SAF-HOLLAND S.A. is one of the worldwide leading manufacturers
and suppliers of premium product systems and components primarily for
trailers as well as trucks, buses, and recreational vehicles. The product
range encompasses axle and suspension systems, fifth wheels, couplers,
kingpins, and landing legs. SAF-HOLLAND customers include the majority of
large truck and trailer producers all over the world. The products are sold
to Original Equipment Manufacturers (OEMs) and Original Equipment Suppliers
(OESs) by means of a global service and distribution network and via
aftermarket channels directly to the end users and service garages.
SAF-HOLLAND has therefore established itself as one of the few
manufacturers in its sector that is internationally positioned with an
extensive product range and a broad service network. SAF-HOLLAND S.A. has
been listed in the Prime Standard of the Frankfurt Stock Exchange since
June 2007.




Contact:
SAF-HOLLAND Group GmbH
Barbara Zanzinger
Hauptstraße 26
63856 Bessenbach

Phone +49 6095 301-617
barbara.zanzinger@safholland.de




02.12.2009  Financial News distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      SAF-HOLLAND S.A.
              68-70, boulevard de la Pétrusse
              L-2320 Luxembourg
              Luxemburg
Phone:        +49 6095 301 - 0
Fax:          +49 6095 301 - 260
E-mail:       info@safholland.de
Internet:     www.safholland.com
ISIN:         LU0307018795
WKN:          A0MU70
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, München, Hamburg, Stuttgart
 
End of News                                     DGAP News-Service
 
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