Change in management of the LMT Group and the Fette Compacting Group

Olaf J. Müller, Managing Director of the LMT Group and CEO of the Fette Compacting business unit, will leave the LMT Group on November 30, 2019, by mutual agreement.

Mr. Daniel Ehmans, CEO of the LMT Group, and Mr. Karsten Kühl, CFO of Fette Compacting, will assume the responsibilities previously held by Mr. Müller temporarily.

Shareholders and the Supervisory Board of the LMT Group regret Olaf J. Müller's departure. Regine Bengel, shareholder of the LMT Group, commented: "We thank Olaf J. Müller for his commitment and successful collaboration over more than 10 years in building and internationally developing the Fette Compacting Group as well as the LMT Group, and we wish him all the best and much success for his future."

The LMT Group is an internationally active family-owned company. It produces solutions for global markets in special machine construction (Fette Compacting) and precision tools (LMT Tools). More than 2,300 people work for the companies of the LMT Group at over 20 locations worldwide. In the fiscal year 2018, the group achieved a turnover of 415 million euros.