FLSmidth appoints new CEO for Cembrit

In FLSmidth’s recent half-year statement, it was reported that, as the sale of group unit Cembrit – initiated in August 2012 – had been unsuccessful, the sale would be stopped.

From Q313, Cembrit will be reported as a continuing business of FLSmidth and Cembrit will be developed as a stand-alone company. Meanwhile, FLSmidth will improve Cembrit’s operational efficiency before another sale is attempted when the European building materials market improves. Cembrit has been part of the FLSmidth Group since 1927 and is the Group’s only remaining building materials company.

Now, as part of FLSmidth’s bid to ensure that Cembrit maintains its position as the leading distributor and producer of fibre cement products in Europe, the Group has announced a new management board for the company. As of 1 October 2013, Martin Jermiin has been appointed new President & CEO of the Cembrit Group; Jørgen Jacobsen, who is the current President & CEO, will become Group Business Development Director. The next step will be to appoint an independent Board of Directors, who will assist in Cembrit’s goal of optimising the production facilities, developing the product portfolio and optimising the cost structure of the group.

Adapted from press release by Katherine Guenioui