At its extraordinary meeting yesterday the supervisory board of
DEUTZ AG elected management consultant Lars-Göran Moberg, 66, as its new chairman. Mr. Moberg, an engineer, has been a
member of the DEUTZ supervisory board since May 2008.
Formerly the long-standing head of Volvo Powertrain, the world's
biggest manufacturer of 9-18 litre diesel engines, he has a wealth
of experience in engines and in the sector, and will be able to
provide DEUTZ with a vital boost. The election of the chairman of
the supervisory board became necessary after Dr. Giuseppe Vita,
74, yesterday stepped down from his office as chairman of the
DEUTZ AG supervisory board after three years.
DEUTZ AG is one of the world's leading independent
manufacturers of water, air and oil-cooled diesel engines with
power outputs of 50kW to 500kW for a broad spectrum of
applications. Its key customer industries are manufacturers of
construction equipment, commercial vehicles, agricultural
machinery and rail vehicles. In 2008, DEUTZ AG generated
revenue of €1.495 billion and employed around 4,700 people.
DEUTZ customers are supported by over 800 sales and service
partners in more than 130 countries around the world.
DEUTZ AG is included in the S-DAX index. Its major
shareholders are SAME-DEUTZ FAHR and the AB Volvo Group
which hold 45.1 percent and 6.7 percent of its shares
respectively, with 48.2 percent of its shares in free float.
