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Ad hoc-announcement edited and sent by DGAP. The sender is solely responsible for the contents of this announcement. ----------------------------------------------------
Berlin (ots Ad hoc-Service) -
PSI Group Pushes Forward with Market-oriented Restructuring - Reinforcement of energy business - Armin Stein Strengthens Executive Board in the Future
In the framework of the repositioning introduced in the beginning of 2000, PSI continues to move forward with its market-oriented restructuring. In this connection, the "EE" (Electrical Energy) Business Unit will be operated as an independent GmbH (limited liability company) as of 1 January 2001. Besides that the previously internal Internet service unit of PSI AG will appear on the market as an independent stock corporation as of 1 January 2001. The organizational changes will increase PSI's profile as a solution provider in the fields of energy management, logistics and eBusiness, and at the same time increase the transparency for investors and analysts. At the same time the Supervisory Board has named Armin Stein to the PSI AG Executive Board, effective 1 January 2001.
As an independent company, the Electrical Energy Business Unit will provide an even stronger profile as a leading specialist for network control technology and energy management in the European electrical markets. The PSI Executive Board expects that the clearer profile will have positive effects on growth and the internationalisation of the energy business.
In the past the internal PSI Internet services unit has, along with the development and maintenance of the PSI Internet website, also successfully offered its services to the market and implemented online solutions for well-known PSI and UBIS customers. Spinning the unit off into its own, stock corporation will increase the attractiveness of the company for young, highly qualified personnel and therefore allow for faster growth. This will allow PSI to offer employees the opportunity to participate in the start-up company. The majority in the company will still be held by the PSI-Group.
Armin Stein as been named to the PSI AG Executive Board, effective 1 January 2001. Armin Stein, a holder of degrees in business and engineering, has been the Head of Administration since 1989 and the Managing Director of AEG Softwaretechnik GmbH since 1995. After the merger into the repas AEG Group he was the Administrative Managing Director of the corporate group. Armin Stein came to the PSI Group in the framework of the acquisition of repas AEG Software GmbH. In the future he serve as Head of Finances. With the new management of finances the Supervisory Board intends, amongst other things, to intensify the dialogue with the financial community. The previous CFO Björn S. Eriksen is resigning from the PSI Executive Board, effective 31 March 2001, for personal reasons. The three month transfer period will guarantee the continuity of the Executive Board's work.
Your contact person:
PSI AG Karsten Pierschke Manager Investor Relations Dircksenstraße 42-44 D-10178 Berlin
Tel. +49 30 2801-2727 Fax +49 30 2801-1000 eMail: KPierschke@psi.de
End ----------------------------------------------------- Internet: http://recherche.newsaktuell.deOriginal-Content von: PSI AG, übermittelt durch news aktuell