Chairman of the Supervisory Board will not stand for re-election

Today the Chairman of the Supervisory Board of KHD Humboldt Wedag International AG (KHD), Cologne, Mr. Hubert Keusch, informed the KHD Management Board that for personal reasons he will not stand for re-election to the Supervisory Board at KHD’s annual general meeting on May 18, 2016. In the case of his election by the annual general meeting, he will not accept the election.

Chief Executive Officer (CEO) resigns with immediate effect

Today the Supervisory Board of KHD Humboldt Wedag International AG (KHD), Cologne, informed the KHD Management Board about the resignation of Mr. Johan Cnossen as Chief Executive Officer and member of the Management Board with immediate effect.

Correction of Errors in KHD’s 2014 Consolidated Financial Statements – after external Audit

As informed in the ad hoc announcement dated June 19, 2015, errors were identified in the measurement of individual projects in the 2014 financial year relating to Humboldt Wedag, Inc., the US subsidiary of KHD Humboldt Wedag International AG (KHD), Cologne. In an ad hoc publication dated August 11, 2015, KHD announced a reduction of earnings before interest and taxes (EBIT) amounting to € 13.7 million and an equity reduction in an amount of € 14.9 million based on a preliminary assessment of the error. In accordance with IAS 8, the error correction was done retrospectively while preparing the Half Year Report 2015.

KHD informed of arbitration award

KHD Humboldt Wedag Interational AG (KHD), Cologne, was informed of an award from a Portuguese arbitration court. In this award KHD and its subsidiary Humboldt Wedag, Inc. (HW Inc.), Norcross, Georgia, USA, are jointly ordered to pay damages to a customer in South America.

KHD strengthens Management Board

The Supervisory Board of KHD Humboldt Wedag International AG (KHD), Cologne, has appointed Mr. Tao Xing as an additional member of KHD’s Management Board for a term of three years. He will play a crucial role in enhancing and growing KHD’s business in China, Asia-Pacific and the Americas.

KHD signs contracts in Russia

ZAB Zementanlagenbau GmbH Dessau (ZAB), Dessau, Germany, a subsidiary of KHD Humboldt Wedag International AG (KHD), Cologne, Germany, has signed contracts totaling over € 100 million for equipment and services for a new cement plant with a production capacity of 4,500 tpd clinker.

KHD adjusts forecast

After updating its annual budget KHD Humboldt Wedag International AG (KHD), Cologne, is adjusting its forecast for the 2015 financial year accordingly.

Correction of Errors in KHD’s Consolidated Financial Statements – Investigation Result

As informed in the ad hoc announcement dated June 19, 2015, errors in the measurement of individual projects in the 2014 financial year relating to Humboldt Wedag, Inc., the US subsidiary of KHD Humboldt Wedag International AG (KHD), Cologne, have been identified.

KHD wins orders in India

Humboldt Wedag India Private Ltd. (HW India), New Delhi, India, und Humboldt Wedag GmbH (HWG), Cologne, Germany, two subsidiaries of KHD Humboldt Wedag International AG (KHD), Cologne, Germany, have signed contracts in an amount between € 55 and 60 million for equipment and services for eight slag grinding units.

Correction of Errors in KHD’s Consolidated Financial Statements

In connection with a detailed analysis of projects in the execution phase, errors in the measurement of individual projects in the 2014 financial year have been identified. These errors relate to the US subsidiary of KHD Humboldt Wedag International AG (KHD), Cologne.