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Pfeiffer Vacuum Plans To Agree On Strategic Cooperation With Busch

German vacuum pumps maker Pfeiffer Vacuum Technology AG (PFFVF.PK,PVTCY.PK) said that it plans to agree on a strategic cooperation with Busch SE that will enable the two companies to work more closely together, particularly in the areas of Purchasing, Sales and Service, Research & Development as well as IT.

Busch SE has informed Pfeiffer Vacuum Technology AG that its shareholding in Pfeiffer Vacuum Technology AG held via its subsidiary Pangea GmbH has exceeded the threshold of 50% on November 2, 2019.

Moreover it has been decided to rearrange the organizational structure of the Management Board as of January 1, 2019. Management Board and Supervisory Board have decided to organize the company according to its global business functions in the future. The new functions Chief Sales Officer, Chief Technology Officer and Chief Operations Officer will be established.

CEO Dr. Eric Taberlet will also take over the position as Chief Sales Officer. Dr. Ulrich von H?lsen will be appointed as Chief Technology Officer. The Chief Operations Officer position will initially be filled with an external consultant on an interim basis. At the same time, the search for suitable candidates will be started. Dr. Matthias Wiemer will take care of special assignments until the expiration of his contract on December 31, 2019.

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