KROMI holds successful 2018 AGM

Hamburg, December 5, 2018 - KROMI Logistik AG, a manufacturer-independent expert in optimising tool availability and tool deployment in machining operations, successfully held its 2018 Annual General Meeting today, Wednesday. The presence of attended share capital amounted to 88.62%, and all agenda items were approved.

As part of the AGM, the Managing Board reported in detail on KROMI's operative and strategic development during the 2017/18 fiscal year, noting that while the current market environment for KROMI is competitive, it is also attractive inasmuch as it offers a number of potentials for the future. In fiscal 2017/18, this situation led the Managing and Supervisory boards to initiate a further development of the business model, in order to ensure that the services it offers form an exact fit with individual customer requirements in the future. With the technological and organisational experience it has gathered over almost 20 years of market leadership, the KROMI Managing Board regards the company as well positioned to benefit from such potentials with the business model it has further developed. KROMI's new self-perception as a technology company has also been consistently implemented in a new brand profile. In accordance with its "Tooling - One Step Ahead" claim, the declared objective is to always stay one step ahead in the expertise areas of Tools, Logistics, Data and Technology.

In addition, Mr. Ulrich Bellgardt, Chairman of the Supervisory Board since 1 January 2018, and Mr. Bernd Paulini, Spokesman of the Management Board since the beginning of 2018 and Chairman of the Management Board (CEO) with effect from 1 November 2018, presented themselves in their new roles at the Annual General Meeting. After having held senior positions at KROMI over the past 18 years, Mr. Uwe Pfeiffer also bid his official farewell. He supported KROMI's development as both a member of its Supervisory Board and, since 2007, as its Chief Financial Officer. Following some very constructive discussions, the Supervisory Board and Mr. Pfeiffer jointly agreed that Mr. Pfeiffer would already leave KROMI as of December 31, 2018, in order to be able to devote himself to new tasks within the near future. Mr. Paulini will assume his tasks on an acting basis until Mr. Pfeiffer's successor Mr. Christian Auth takes up his position on April 1, 2019.

The AGM approved all of the management's proposed agenda items with very large majorities. In particular, the AGM granted discharge to the Managing and Supervisory boards in relation to the fiscal year elapsed.

Company profile:
KROMI, Hamburg, is a manufacturer-independent expert in optimising tool availability and tool deployment in machining operations. As a reliable and transparent partner to industry, KROMI combines machining technology, data management and streamlined logistics processes to form compelling all-round solutions. Thanks to networked dispensers in customers' production areas in combination with digital inventory controlling, KROMI ensures the optimal utilisation and availability of the requisite working resources at the right time and in the right place. The activities of KROMI aim to always offer maximum value for customers' machining operations in its core markets of Europe and Brazil. This entails analysing processes on the customer side in detail and identifying opportunities and potential improvements, in order to optimally integrate tool supplies with all requisite services. KROMI currently has sites in Germany, Slovakia, the Czech Republic, Spain and Brazil. KROMI is also active in five further European countries.

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