MacGREGOR Group Appoints New President and CEO

Hans Pettersson has been appointed president and CEO of the MacGREGOR group. He took up his position on August 27, 2002 and will be based in the company’s Stockholm headquarters. Pettersson succeeds Anders Jagraeus who has been president and CEO since 1997. Jagraeus will pursue other interests outside the MacGREGOR Group. Pettersson joined MacGREGOR in 2001 as the general manager of the Cranes division. He has played a key part in steering the out-sourcing of MacGREGOR’s crane production to China. With an extensive international business background gained among others from 12 years with the Swedish Match group, based in South East Asia and Germany, Pettersson worked for 10 years in the paper industry prior to joining MacGREGOR. The MacGREGOR Group AB also announced that they have made an agreement with Kayaba Industry Co. Ltd. to buy another 25 percent of the shares in MacGREGOR-Kayaba Ltd., becoming the majority owner. After the transaction is completed, MacGREGOR will hold 75 percent and Kayaba Industry 25 percent of the shares in MacGREGOR-Kayaba.