• Simplification of the company structure following a successful strategic refocusing process and change of owner

Düsseldorf, 22. February 2013 - Pfleiderer AG in Düsseldorf, the leading manufacturer of wood-based materials in Europe, has decided to convert its legal form from that of a public limited company (German "Aktiengesellschaft" or AG) to a limited liability company (German "Gesellschaft mit beschränkter Haftung" or GmbH).

The background to this decision is that in 2012 Pfleiderer successfully completed its financial reorganisation and strategic refocusing process. In this regard, trade in Pfleiderer AG's shares was terminated. The new sole owner is the investment company Atlantik S.A. in Luxemburg.

The conversion of the legal form will result in a considerable simplification in structures and internal processes and therefore save time and money. Due to the size of the company, that employs more than 2,000 people in Germany, the future Pfleiderer GmbH will remain a company subject to German employee co-determination law with a supervisory board made up of twelve members, half of which will be employee representatives. The change in legal form will be recorded in the commercial register shortly.

Michael Wolff, spokesman for the Pfleiderer AG board of management: "The conversion to a limited liability company will considerably simplify cooperation between the shareholders and the board of management. Nothing will change Pfleiderer GmbH's function as a pure investment holding without any operational business".

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