Essen, March 8, 2012 – With the closing, Ferrostaal AG, Essen, officially belongs to MPC Industries GmbH, Hamburg. Following the takeover the company will be rebranded to a GmbH and in future operate under the name MPC Ferrostaal GmbH. The company headquarters will remain in Essen.

The majority owner of MPC Industries GmbH is Axel Schroeder senior, together with his sons John Benjamin Schroeder and Axel Schroeder, who are also the sole shareholders of the MPC Group, Hamburg. A minority share in MPC Industries GmbH is held by an investor group centred around Commodore Contracting Co., Abu Dhabi.

The Ferrostaal Executive Board will in future be headed jointly by John Benjamin Schroeder (responsible for the Americas) and Klaus Lesker (Asia Pacific and Africa). Acting Executive Board members Kay Hanns Ewaldsen (COO) and Joachim Ludwig (CFO) will be retained on the new Executive Board. The Chief Executive Officer Jan Secher will leave the company in accordance with a Change of Control arrangement agreed with him. Chief Financial Officer Robert Moll has already resigned from his post.

The new Executive Board of MPC Ferrostaal will continue to operate and expand the core business areas with the Divisions Plant Construction (Power & Renewables, Petrochemical Industry, Oil and Gas) and Industrial Services (Equipment Solutions and Automotive). “The company’s DNA is intact. On the basis of our employees’ experience and skills, a strong capital base and a compliance structure which conforms to the most stringent requirements, MPC Ferrostaal will soon be forging ahead at full steam,” declared the designated spokespersons of the Executive Board, John Benjamin Schröder and Klaus Lesker. “The pleasing volume of incoming orders since the beginning of the year, and a number of promising projects with old and new business partners which are about to be concluded, provide every reason to look optimistically to the future at the start of the new era."

Further information and photos are available in the electronic press folder on our website at www.ferrostaal.com. Please contact us if you have any questions.

About MPC Industries

The majority shareholders in MPC Industries are Axel Schroeder senior, Dr. Axel Schroeder and Dr. John Benjamin Schroeder, who are also the sole shareholders of the MPC Group. The MPC Group has its headquarters in Hamburg and employs some 400 staff worldwide. Today three independent divisions operate under the Group umbrella: Shipping and Shipbuilding, Capital Investments and Commodities and Machinery.