Thomas H. Hagen appointed member of the Management Board of Demag Cranes AG

Düsseldorf,   20. March 2007

At its meeting today, the Supervisory Board of Demag Cranes AG appointed Thomas H. Hagen (44) the third member of the Management Board of Demag Cranes AG, with effect from May 1, 2007. Thomas H. Hagen will be responsible for the new Board position for the Industrial Cranes and Services segments. CEO Harald J. Joos (54), who is currently responsible for these two segments at the Board level, will in future focus more strongly on strategic issues. In addition, it is intended to propose to the Boards responsible that Mr. Hagen will likewise replace Mr. Joos as Chairman of Board of the Group’s subsidiary Demag Cranes & Components GmbH in Wetter/ Ruhr. Demag Cranes & Components GmbH represents the two Industrial Cranes and Services segments at the Group level.

Thomas H. Hagen was until recently CEO and sole Board member of the Weidmüller Group in Detmold, a leading manufacturer of electrical connector components, and was, among other things, responsible for the group’s successful turnaround. Prior to that he held various executive positions, among other things at Lahmeyer AG in Frankfurt and at ABB Umwelttechnik GmbH in Butzbach.

About Demag Cranes:

Demag Cranes AG is one of the world’s leading providers of industrial cranes, crane components, harbour cranes and port automation technology. Services, in particular maintenance and refurbishment services, are another key element of the Group’s business activities. The Group is divided up into the three segments Industrial Cranes, Port Technology and Services and has the strong and established "Demag" and "Gottwald" brands. Demag Cranes sees its core expertise in the development and design of technologically advanced cranes and hoists as well as automated transport and logistic systems in ports, the provision of services for these products and the manufacture of high-quality components.

As a global supplier, Demag Cranes manufactures in 16 countries on five continents and operates a worldwide sales and service network that is present in over 60 countries through its subsidiaries, representative offices and joint ventures. In financial year 2005/2006, 5,680 employees generated sales of some EUR 987 million. Since the end of June 2006, the Demag Cranes share (WKN: DCAG01) has been listed in the Prime Standard of the German Stock Exchange and is included in the SDAX share index.

Demag Cranes. We Can Handle It.


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