Man Ag News

The Danish Maritime Authority's buoy tender ’POUL LØWENØRN’ will be alongside in Korsør in connection with the Maritime Cultural Days. The vessel will be open to visitors throughout Saturday, 27 August. Safety of navigation is at the centre of the Maritime Cultural Days, and you can experience a variety of aspects of safety at sea if you visit the large buoy tender. On board the vessel will also be representatives of the ’SejlSikkert’ (safe navigation) campaign, which the Danish Pleasure Craft Safety Board is a part of. The vessel will be open on Saturday, 27 August, from 10:00 to 17:00 – the vessel will be alongside at the Service and Maintenance Centre on Søbatteriet 2 in Korsør.

A unit of Germany's MAN AG reportedly confirmed to a major news agency that it would buy a 15 percent stake in Howaldtswerke- Deutsche Werft (HDW) by October 1. The move follows a surprise takeover of the shipyard by U.S.-based One Equity Partners last month who freed the yard from the control of ailing engineering firm Babcock Borsig. The head of MAN unit Ferrostaal AG, reportedly told a news conference that the firm agreed to buy a 15 percent stake offered by One Equity soon after it gained control of 75 percent of HDW's shares. HDW is the world's leading producer of non-nuclear submarines. One Equity said it bought the controlling stake as a financial investment.

The supervisory board of MAN B&W Diesel AG, a subsidiary of MAN AG, Munich, has appointed Håkan Samuelsson as its new chairman, effective January 1, 2005. In this position he will follow Dr. Rudolf Rupprecht who resigns as chairman as of December 31, 2004. Samuelsson will also act as “working chairman” as of February 2005 and take over for the time being the responsibilities for the MAN B&W Diesel Group’s overall policies and strategies. Currently chairman of the executive board of MAN Nutzfahrzeuge AG, he will become chairman of the executive board of MAN AG as of January 1, 2005, succeeding Dr. Rudolf Rupprecht. In addition, the chairman of the executive board, Dr. Hans-J.

After 32 years of service with MAN, Dr. Hans-J. Schulte, Member of the Executive Board of MAN AG (Munich) and Chairman of the MAN B&W Diesel Executive Board, officially retired from professional life today. At the farewell celebration attended by 150 guests, Håkan Samuelsson, Chairman of the Executive Board of MAN AG and Chairman of MAN B&W Diesel AG’s Supervisory Board emphasised: “Thanks to his international experience and his extensive knowledge of the diesel engine markets worldwide, Dr. Schulte has always been able to give fresh impetus to the Executive Board of the MAN Group and has pushed the diesel engine division decisively forward.” At the end of January, Dr. Hans-J. Schulte will retire from professional life.

Large engine manufacturer MAN B&W Diesel AG of Augsburg is expanding its Executive Board. The company’s Supervisory Board has appointed Tage Reinert as a member of the Executive Board responsible for controlling. 1 September 2005 at the latest. The other members of the company’s Executive Board include the Chairman of the Executive Board of MAN AG, Håkan Samuelsson, who serves as working chairman, Fritz Pape as deputy chairman, Dr. Stefan Spindler, Dr. Peter Sunn Pedersen and Dr. Stephan Timmermann. Tage Reinert comes to the company from the Danish mobile telephone operator Sonofon in Copenhagen, where he served as Executive Vice-President and CFO from 1999 and more recently held the position of Acting Chief Executive Officer (CEO) for a period of one year.

MAN Diesel has extended its capabilities to provide after-sales service to all customers calling on the east coast ports. H.W. Ramberg Incorporated (HWR) is aimed to enhance MAN Diesel’s technical and support with its personnel and equipment. HWR’s 80 years of service experience in the maritime community, over 35 years as an MAN Diesel Authorized Repair Shop for reconditioning and exchange, will continue to provide support to MAN Diesel’s customers. The agreement was expanded upon the acquisition in 1979 of B&W by the MAN AG Group. HWR thus became an Authorized Repair Shop for Augsburg, Germany and Copenhagen, Denmark, which has continued to present day.

Fritz Pape, Deputy Chairman of the Board of MAN Diesel SE, retired on October 31. Pape has been part of the company since 1966, having spent 13 years as a Member of the Board. His successor, Dr. Georg Pachta-Reyhofen has been in charge of the company since July 1 in his role as Chairman of the Board. He is also a Director of MAN AG, Munich. After his training to become an engine fitter, Fritz Pape studied production engineering at the State School for Mechanical Engineering in Düsseldorf. Following graduation as an engineer in 1966, he began his career as a production engineer at MAN. From 1973 onwards, Pape was responsible for the entire mechanical processing of diesel engines.

MAN Aktiengesellschaft is intending to convert its Diesel Engines Business Area into a European Company (Societas Europaea) in the course of this year. At the same time, MAN B&W Diesel AG in Augsburg is to be renamed "MAN Diesel SE". "In a European Company we will think and act on an even more international scale, which is absolutely essential in the face of global competition," explained Håkan Samuelsson, Executive Board Chairman of MAN AG, at a press conference in Munich. A Societas Europaea (SE) is a corporate form under European law. This new legal form will allow for stronger integration of MAN´s international business activities. The MAN Diesel SE boards will be international bodies.