Nordex strengthening management lineup for international expansion- New Chief Technology Officer position created / contracts with CEO, CFO and COO Sales & Marketing renewed

Hamburg - The Nordex Group has created the position of Chief Technology Officer on its Management Board. At the same time, it is pooling its operating business in three regional companies to step up its growth strategy in the Far East and Overseas.

Nordex AG's Supervisory Board has appointed Dr. Eberhard Voss (51), previously managing director and head of engineering, to the Management Board position of Chief Technology Officer. With a doctorate in engineering and a track record spanning more than 20 years in the development of wind turbines, he is one of the most experienced engineers in the sector and has been with Nordex since 2003.

At the same time, the Supervisory Board has sent out a signal of continuity by reaffirming all the Management Board contracts due for renewal. Thus, it has approved contract renewals for CEO Thomas Richterich, CFO Bernard Schäferbarthold (both until the mid 2012) and COO Sales and Marketing Carsten Pedersen (until the end of 2011). "In this way, we are tying management to the Company for the duration of the current business plan. This is a crucial step to sustain Nordex’s profitable growth in the medium term," explains Yves Schmitt, chairman of Nordex AG’s Supervisory Board. Since 2004, the Group’s sales have been rising by an average of 50 percent per year.

Looking forward, operating business is to be handled by three regional companies in Europe, Asia and North America. In Asia, Jens Olsen (45) has been appointed CEO, having held comparable positions in the Far East for two Danish competitors since 1999. Ralf Sigrist (37), previously head of Group Human Resources and Legal, has been named CEO of Nordex USA, which is headquartered in Boston. As trained lawyer, he joined Nordex in 2001 and has many years of experience in international plant engineering. Sigrist will be receiving support from the International Expansion department for the set-up of the production facilities planned for 2009. No further material changes are planned in the management lineup of Nordex Energy GmbH, which coordinates the Group’s European operations.

In 2007, Nordex exported roughly 85 percent of its output to European countries outside Germany and a further 4 percent to Asia. By 2011, it wants to generate around 40 percent of its sales from non-European business. To achieve this, it is establishing independent subsidiaries in the main regions which it addresses. The Group plans to spend a total of around EUR 130 million in the United States and China on establishing and extending local production facilities.


Hamburg, March 18, 2008


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