Press Release 11/05-01

The Holding Company of the SCHORISCH Group is Trading under the Name of a Joint Stock Company

Using modern structures to strengthen future viability

Reinbek/Germany

(rie)

The hurdles of bureaucracy are taken: With the latest entry on the commercial register the SCHORISCH Beteiligungsgesellschaft mbH – the holding company of the SCHORISCH Group – is now trading under the name of SCHORISCH AG. The joint statement of the chairman of the supervisory board, Mr. Helmut Martin, and of the board of directors, Mr. Christoph Martin and Dr. Jochen Riebensahm, shows that the continuity-oriented and customer-oriented SCHORISCH Group is taking this step to bear in mind the constant expansion, the above-average commitment of its employees and the requirements to be made on a future-oriented, medium-sized company. The structures of the SCHORISCH subsidiaries operating in different business segments such as structural steel engineering, electrical engineering, fire protection and industrial agencies will not be affected by this.

In connection with this renaming it was also possible to successfully complete the process of settling the succession with regard to the management of the SCHORISCH Group. The previous General Manager, Helmut Martin, who was in overall charge of the SCHORISCH Group for nearly 40 years and was therefore responsible for the constant growth and expansion of the group, left the management team and is now acting as the chairman of the supervisory board.

According to Mr. Christoph Martin and Dr. Jochen Riebensahm, both of them appointed to the board of directors of SCHORISCH AG, there are two reasons which are relevant for trading under the name of a joint stock company: Firstly, a joint stock company has additional and flexible possibilities of capital raising – even without being quoted on the stock exchange. Besides this, the renaming opens up new possibilities in terms of co-operations and cross holding by strategic partnerships. It was pointed out by the board of directors that presently there is neither a reason nor the intention to be listed on the stock exchange.

A good timing, visions as well as logical and consequent decisions are essential criteria for the further development of the group. "High speed and rapid changes are features of our markets and therefore customer-orientation as well as constant co-ordinations and adaptations are a must in order to operate successfully and more intensively on the international markets for the time to come!"

For this reason, the SCHORISCH specialists not only give advice, co-ordinate and put into practice projects according to the state of the art but also offer to our customers and interested persons first-hand "Innovations for people and in technology" as our company's motto implies.

From left to right: Christoph Martin, member of the Board of Directors, Helmut Martin, chairman of the Supervisory Board, Dr. Jochen Riebensahm, member of the Board of Directors

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