PMO 2008

In summer 2007 the Putzmeister Group introduced the new Putzmeister Organization 2008 (PMO 2008) which is now step by step realized for 2008 and onwards.

PMO 2008 separates in following up functional organization our group businesses in a first stage into three Market Technique Fields (MTF):

PM Concrete Technology “PCT” (represented by Putzmeister Concrete Pumps GmbH)
PM Mortar Technology “PMT” (represented by a newly formed PMT GmbH)
PM Pipe Technology “PPT” (represented by Esser Werke GmbH & Co. KG).

In later stages other existing divisions will follow as legally separated MTF’s.

This graph shows the legal structure (companies) of the Putzmeister Group (in light yellow) and its functional units (in dark yellow). It also gives the shares and voting rights of both foundation shareholders of the PM Group. These are set up in a dual foundation model, i.e. KSF with 90 % of voting rights acts as shareholder, whilst KSG with 99 % of company shares carries out social non-profit activities.

This new group structure was introduced from 2007 under the name PMO 2008 (see page 6 of the annual report). This reorganisation will continue in 2008.

PMH will now act as management holding after is was founded in 1998 as legally required intermediate company for the KS- Foundations. Consequently our traditional mortar machine business with its 3 companies (PMM, Lancy & Brinkmann) are no longer be part of the Putzmeister AG. From February 21st, 2008 the Putzmeister Concrete Pumps GmbH will fully focus on its main competence field “Concrete Technology” to ensure highest effectivity and to evaluate new growth potentials.

In PMO 2008 each Market Technique Field has to decide individually on their operative matters. However key strategic questions and topics relevant for the whole group, will be jointly decided with the PMH (see below).

It aims for adding more operative independent MTFs directly at the Putzmeister Holding within the Karl Schlecht Foundations (Karl Schlecht gemeinnützige Stiftung - KSG & Karl Schlecht Familienstiftung - KSF). The new MTFs will have different markets as well as different products and as a consequence a corresponding different technical culture. This process is in accordance with our mission statement as expressed in the Putzmeister World Book (PWB) published by the founder of the PM Group Karl Schlecht. According to PWB the development of new MTF should mainly occur out of existing departments of PM group as also shown in the following diagram.

To enhance this process of developing PMO 2008 we have given the status of a so called emerging Market Technique Field (eMTF) to the existing business units (divisions):

Putzmeister Underground Construction & Mining (PUC) – as part of PMIB
Putzmeister Industrial Technology (PIT) - as part of PMAG
Putzmeister Belt Technology (PBT) - as part of PMA
Putzmeister Water Technology (PWT) – as part of PMM

Within the next 2 – 4 years they will become gradually more and more autonomous before finally reaching the status of a separate legal entity direct under PMH.

Although our PMT will only become totally separated as a legal unit at the end of 2007 it acts already now as defined in PMO 2008, meaning practically as an affiliate of PMH. The underlying rules and bylaws are now gradually being updated until the end of the year to suit the new structure.

PMH has introduced for the first time ever a supervisory board at the end of 2007. The representatives of the shareholder in the present supervisory board of the PMAG will then become members of the new PMH supervisory board. The supervisory boards of the foundations KSG & KSF remain unchanged for the time being. Also no changes in the full ownership of PM Holding by the two foundations are intended.

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