- Management agreement concluded
- Thomas Limberger, CEO Oerlikon, will assume operational leadership of Saurer
Pfäffikon SZ, December 11, 2006 - The ongoing talks between OC Oerlikon Corporation AG, Pfäffikon ("Oerlikon") and the Board of Directors of Saurer AG ("Saurer") have led to the conclusion of a management agreement among the two companies. The agreement provides for the operational management of Saurer by Oerlikon under the leadership of Thomas Limberger, CEO of Oerlikon, starting January 1, 2007. In terms of content, this agreement delegates responsibility from Saurer to the management of Oerlikon, which will thus be in a position to take charge of the company even before the Saurer Board of Directors has been formally reassigned. The agreement has been negotiated and signed by all members of the Oerlikon and Saurer Boards. "This step again demonstrates the amicable nature of the takeover process of Saurer," according to Mr. Limberger. "We thereby are establishing the best conditions for a timely and successful integration of Saurer into the Oerlikon Group and for the complete realization of the existing synergy potential".