FLSmidth : Change in Management of the Cembrit Group

             FLSmidth : Change in Management of the Cembrit Group

PRESS RELEASE

In continuation of the announcement on 23 August 2013 concerning the stopped
sales process of the Cembrit Group and the implementation of an improvement
programme, it has been decided to restructure and strengthen the Cembrit
Management.

As of 1 October 2013, Martin Jermiin has therefore been appointed new
President & CEO of the Cembrit Group. Martin Jermiin was formerly partner at
McKinsey & Company where he has been employed since 2003. Martin Jermiin holds
an M.Sc. degree in Applied Economics and Finance from Copenhagen Business
School. 

Jørgen Jacobsen, current President & CEO of the Cembrit Group, will take up a
new position as Group Business Development Director. Hence, Jørgen Jacobsen,
with his vast experience from Cembrit and the building material business in
general, will continue in Cembrit in order to contribute to the development of
the Group as well as to secure continuity. Jørgen Jacobsen will also continue
as part of Cembrit Group Management.

Following the appointment of a new President & CEO, a process with the purpose
of appointing an independent Board of Directors with in-depth industry
experience will be started.

FLSmidth will develop Cembrit as a stand-alone business, including optimising
the production facilities, developing the product portfolio and further
optimising the cost structure in order for Cembrit to retain its position as
the leading distributor and producer of fibre cement products in Europe.

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Please address any questions regarding this announcement to Group Executive
Vice President Bjarne Moltke Hansen, FLSmidth & Co. A/S at +45 36 18 18 00.

For further information about FLSmidth, please visit www.flsmidth.com.

Yours faithfully

Pernille Friis Andersen
Corporate Communications & Investor Relations

Link to PDF version

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Source: FLSmidth via Thomson Reuters ONE
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