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New boss in store for MPM Group

Article-New boss in store for MPM Group

A new chairman is settling in to lead MPM Group following its acquisition, which was completed in early July by Madison Capital Partners (Chicago). Madison''s own Richard Osborne will replace Pepyn Dinandt, who has been MPM chairman since 2002. Before joining Madison Capital Partners, Osborne was the CEO, chairman, and president of NYSE-listed Scotsman Industries, a manufacturer of commercial food equipment, and Madison portfolio company. Osborne joins the current members of the board of management: Holger Engelmann, Henning Scheele, and Otto Urbanek.

MPM was sold by German engineering conglomerate Siemens to investment company Kohlberg Kravis Roberts (KKR; New York) in 2002; KKR placed it in a holding company, Demag Holding s.a.r.l (Luxemburg), of which KKR held an 81% share and Siemens 19%. Demag Holding sold MPM to Madison Capital this year, closing the sale this month.

The Group includes injection molding machine makers Demag Plastics Group, Krauss-Maffei Kunststofftechnik and Netstal, plus Berstorff, which makes compounding and sheet extruders plus rubber extrusion machinery. Krauss-Maffei also makes extruders and polyurethane processing equipment. In the fiscal year to Sept. 30, 2005, MPM recorded sales of €1.3 billion.

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