Pfaff-silberblau Gains Dynamic Leadership Team

Bernd Wagner and Martin Kutschka take over the management responsibility from interim CEO Thomas Dory

Friedberg, Germany, January 9th, 2006 - At the beginning of the New Year, 2006, Pfaff-silberblau Hebezeugfabrik GmbH & Co. KG is continuing its reorganization: Interim CEO Thomas Dory is passing on the responsibility for the company's future to two top executives, Bernd Wagner and Martin Kutschka, who will be sharing the leadership responsibility. Following the strategic transformation of the industrial firm – which was a family-run business until mid 2004 – to turn it into an independently managed group of companies, the new top management will concentrate on continuing the constant further development of the portfolio of products and technology and on expanding the international activities. Pfaff-silberblau is one of the leading manufacturers of lifting and material-handling technology and is considered one of the world's most innovative companies for actuator technology. Bernd Wagner (44) has already been acting as managing director of Pfaff-silberblau Hebezeugfabrik GmbH & Co. KG since November 2005. He holds a business degree from Ludwig Maximilian University in Munich, Germany, and began his career as a controller at LTU. After that, he played a significant role in the establishment of the Deutsche BA airline. In his next position, Bernd Wagner was given the responsibility for the finances of a large family-owned business, and he most recently served as chief financial officer for two international IT companies that are quoted on the stock exchange. As chief financial officer (CFO) at Pfaff-silberblau, Bernd Wagner intends to steer the company on a successful, future-oriented course: "Pfaff-silberblau is a company with a long-standing tradition and a highly motivated staff with a very high level of expertise. Together, we will continue writing the company's success story in the field of lifting and material-handling technology as well as in actuator and rail & road technology, and we will be offering our customers even more service." Beginning in January 2006, Martin Kutschka (43) will be responsible for the areas of production and sales at Pfaff-silberblau Hebezeugfabrik GmbH & Co. KG as chief executive officer (CEO). Martin Kutschka earned a mechanical engineering degree at the University of Leoben in Austria in the field of mining and oil production machinery. In this sector, he initially worked as a project engineer and project manager. Later he served as senior consultant and principal at two well-known business consulting firms. In his most recent position, Martin Kutschka served as CEO for a manufacturer of mechanical components used in the automotive industry. "Hardly another company knows as much about lifting and moving the heaviest and most sensitive loads as Pfaff-silberblau does," said Martin Kutschka as he assessed the core competency of the company that he is now responsible for. "In the future we will continue the further development of the innovative Pfaff-silberblau products to meet the needs of our customers, and we will offer them outstanding technological solutions in accordance with their special requirements."

About Pfaff-silberblau Pfaff-silberblau Hebezeugfabrik & Co. KG – established over 135 years ago – currently has 360 employees and a group turnover in excess of 62 million euros (2004 fiscal year). The Pfaff family, which founded the company, is the sole shareholder of today’s group of companies. The enterprise is led by an independent management and a supervisory board with a shareholder representative. Pfaff-silberblau is a technology leader in the fields of hoisting machinery and materials handling equipment, actuator technology/ worm-gear screw jacks, and road & rail. The company is an experienced partner for solving any problem related to moving (turning, lifting, lowering, pushing, shunting) loads of up to 1,000 tons in any direction. Pfaff-silberblau has factories in Friedberg and Heilbronn (Germany), and is represented by subsidiaries in Switzerland as well as in Austria, the United Kingdom, the Benelux countries, Poland and Hungary. Beyond that, more than 40 affiliated representative offices are active for Pfaff-silberblau and its customers around the world.