STOCKHOLM, Sweden, April 27, 2004 (PRIMEZONE) -- The Alfa Laval Board of Directors has today appointed Lars Renstrom new CEO and President of the Alfa Laval Group. Lars Renstrom is presently CEO and President of Seco Tools, a leading provider of tools to the machining industries around the world listed on the Stockholm Exchange.
"As announced in January, Alfa Laval's CEO and President Sigge Haraldsson has decided to avail himself of the opportunity to retire at the age of sixty, towards the end of the year," said Anders Narvinger, Chairman of the Alfa Laval Board. "It's today a pleasure for me to present a highly qualified successor to Sigge Haraldsson." Lars Renstrom has a genuine and successful track record from Swedish industrial blue chip companies. He has held different management positions during the 80's and 90's in ABB and Ericsson. He joined Atlas Copco as President and head of division Rock Drilling Tools in 1997. He was appointed CEO and President of Seco Tools effective January 2000. "Alfa Laval has developed extremely well under Sigge Haraldsson's leadership and Lars Renstrom will continue Sigge's successful work, with the same focus on profitable growth," says Anders Narvinger.
"I am looking forward to join Alfa Laval which is one of the classic Swedish world class companies with products having high global market shares", says Lars Renstrom.
"I am impressed by the change Alfa Laval has gone through during the last five years, doubling the operating margin is just one obvious result of the process." The exact date when Lars Renstrom takes office is under discussion.
Editors note: Alfa Laval is a leading global provider of specialized products and engineering solutions based on its key technologies of heat transfer, separation and fluid handling. The company's equipment, systems and services are dedicated to assisting customers in optimizing the performance of their processes. The solutions help them to heat, cool, separate and transport products in industries that produce foods and beverages, chemicals and petrochemicals, pharmaceuticals, starch, sugar and ethanol. Alfa Laval's products are also used in power plants, aboard ships, in the mechanical engineering industry, in the mining industry and for wastewater treatment, as well as for comfort climate and refrigeration applications. Alfa Laval's worldwide organization works closely with customers in nearly 100 countries to help them stay ahead in the global arena. Alfa Laval is listed on the Stockholm Exchange and, in 2003, posted annual sales of about SEK 14 billion (approx. 1.5 billion euros). The company has some 9,400 employees. For further information, please visit the Alfa Laval website at www.alfalaval.com
You will find Lars Renstrom's CV and photo under the ticker ``Press" on alfalaval.com.
For more information please contact: Peter Torstensson, VP Communications Phone: +46 46 36 72 31
Anders Narvinger, Chairman of the Board Phone: +46 8 782 08 41
Lars Renstrom Phone: +46 70 575 62 38
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