KHD Khd Humboldt Wedag International Ltd

HONG KONG, April 13 /PRNewswire-FirstCall/ -- KHD Humboldt Wedag International Ltd. (NYSE:KHD) announced today that its Board of Directors has appointed Chief Operating Officer ("COO"), Jouni Salo, 49, to be the Company's President and Chief Executive Officer. Our new CEO will be located at the Company's headquarters in Vienna, to enable a more collegial relationship among top managers, most of whom have been located in Vienna for over a year. Mr. Salo, who was appointed President of the Company's Cement Division in 2008, has been serving as COO since November 2008. He replaces Jim Busche who left to pursue other interests. Michael J Smith, Chairman of the Board of Directors said, "Jouni Salo has been a strong driver of our core cement operations, and has a sense of vision and opportunity that we think will serve KHD and our shareholders well in these difficult times. In addition to the expense-cutting and cash-maximizing steps that we announced recently and that were discussed on our recent conference call, Jouni will be leading the Company into the future with proactive steps to address the changes in the economic environment and in our markets. Although the overall demand for greenfield capital equipment may have decreased, we see opportunity in refocusing on our well-established cement business, which has many decades of local relationships in economies around the world, including in Russia and central Asia, southeast Asia, the Middle East, North Africa, and the Indian subcontinent. The population of KHD equipment globally is quite substantial, and we are placing a renewed emphasis on helping existing customers to expand in their current locations, to clean up their operations environmentally, and to maximize output at a time when global stimulus programs are likely to be consumers of cement. We will also be dedicating resources to significantly expand the service segment." Since joining KHD on May 1, 2008, Mr. Salo first served as the President of the Cement Division, and was then appointed Chief Operating Officer on November 1, 2008. Mr. Salo has more than 25 years of international business experience in the industrial equipment market. Previously, he served in a variety of senior positions with Helsinki-based Metso Minerals Inc and related operations. As President of the Construction Materials Business Line, he was responsible for the profitability and reorganization of one of the largest business divisions, with manufacturing plants in numerous parts of the world, with a strong focus on development of emerging markets. Previously, Mr. Salo played a pivotal role with Metso in the acquisition and integration of companies around the world. Mr. Salo holds a Bachelor of Science degree in Mechanical Engineering from the Technical College of Hameenlinna, Finland. About KHD Humboldt Wedag International Ltd. KHD Humboldt Wedag International Ltd. owns companies that operate internationally in the industrial plant engineering and equipment supply industry, and specializes in the cement, coal and minerals processing industries. To obtain further information on the Company, please visit our website at http://www.khdhumboldt.com/ Disclaimer for Forward-Looking Information Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company's future growth, results of operations, performance and business prospects and opportunities. The worldwide macroeconomic downturn has resulted in the prolonging or cancellation of some of some of our customers' projects and may negatively affect our customers' ability to make timely payment to us. Further, it may result in a further decrease in the demand for our products or services. Any of these may have a material adverse effect on our operating results and financial condition. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain assumptions. These assumptions, which include management's current expectations, estimates and assumptions about certain projects and the markets the Company operates in, the global economic environment, interest rates, exchange rates and our ability to attract and retain customers and to manage our assets and operating costs, may prove to be incorrect. A number of risks and uncertainties could cause the Company's actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in Asia, Europe, Russia, Eastern Europe, the Middle East, the United States and internationally including, the worldwide economic downturn resulting from the effects of the subprime lending and general credit market crises, volatile energy costs, decreased consumer confidence and other factors, (2) a decreased demand for the Company's products, including the renegotiation, delay and/or cancellation of projects by our customers and the reduction in the number of project opportunities, (3) a decrease in the demand for cement, minerals and related products, (4) the number of competitors with competitively priced products and services, (5) product development or other initiatives by the Company's competitors, (6) shifts in industry capacity, (7) fluctuations in foreign exchange and interest rates, (8) fluctuations in availability and cost of raw materials or energy, (9) delays in the start of projects included in the Company's forecasts, (10) delays in the implementation of projects included in our forecasts and disputes regarding the performance of the Company's services, (11) the uncertainty of government regulation and politics in Asia and the Middle East and other markets, (12) potential negative financial impact from regulatory investigations, claims, lawsuits and other legal proceedings and challenges, (13) the timing and extent of the Company's restructuring program and the restructuring charges to be incurred in connection therewith, and (14) other factors beyond the Company's control. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risk Factors" section in our Form 20-F filed with the Securities and Exchange Commission and the "Risks and Uncertainties" section in our MD&A filed with Canadian security regulators. Contact Information: Allen & Caron Inc. Joseph Allen (investors) 1 (212) 691-8087 or Len Hall (media) 1 (949) 474-4300 Rene Randall KHD Humboldt Wedag International Ltd. 1 (604) 683-8286 DATASOURCE: KHD Humboldt Wedag International Ltd. CONTACT: investors, Joseph Allen, +1-212-691-8087, , or media, Len Hall, +1-949-474-4300, , both of Allen & Caron Inc., for KHD Humboldt Wedag International Ltd; or Rene Randall of KHD Humboldt Wedag International Ltd., +1-604-683-8286, Web Site: http://www.khdhumboldt.com/

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