March 12, 2018
- Former CEO Henri Steinmetz steps down at his own request
- The acquisition of CeramTec by a consortium led by BC Partners, Including PSP Investments and Ontario Teachers', has now been completed
Plochingen, March 12, 2018 – CeramTec Group ("CeramTec" or "the company"), a leading international producer of technical ceramics, is pleased to announce the appointment of Dr. Hadi Saleh as Chief Executive Officer. Formerly the company's President Medical, Dr. Saleh will assume his new position immediately. The appointment comes after Henri Steinmetz, CeramTec's Chief Executive Officer since 2016, decided to leave the company with the full mutual agreement of the supervisory board.
Dr. Günter von Au, Chairman of CeramTec's supervisory board, said: "As the Group's President Medical, Dr. Hadi Saleh has demonstrated his professional expertise and outstanding leadership qualities. We are confident that under his guidance the CeramTec Group will continue its growth trajectory. At the same time, we thank Henri Steinmetz for his successful tenure at the company's helm and wish him all the very best for the future, both professionally and personally."
Dr. Hadi Saleh said: "I would like to maintain and build on the successful growth strategy that we have adopted and further strengthen CeramTec's competitive position as a global leader in the technical ceramics sector. Looking forward to the coming years, we want the group to continue growing, both organically and through acquisitions. Our strategic goal is to turn the company from a German technology leader into a global market leader for innovative materials."
In his previous role as President Medical, Dr. Saleh oversaw the group's entire range of medical products and was co-responsible for its industrial business. Before joining CeramTec in July 2015, he held management positions at US medical technology company Biomet, one of the world's largest suppliers of orthopedic implants, for over ten years.
In October 2017 it was announced that CeramTec was to be acquired by a consortium of investors led by funds advised by BC Partners and including the Public Sector Pension Investment Board and Ontario Teachers' Pension Plan. The transaction has since received antitrust clearance and was completed on March 8, 2018.
CeramTec is a leading international producer of technical ceramics, specializing in the development, production and distribution of components and products made from ceramic materials. With a track record in development and production spanning more than one hundred years, it holds a top international position in the production of high-performance ceramics and employs these materials in numerous applications. CeramTec's high-performance ceramics are used in many different sectors such as the automotive industry, electronics, energy, environmental technology and plant and mechanical engineering. The range comprises far in excess of 10,000 products and components made from technical ceramics together with a large number of ceramic materials.
With production facilities and subsidiaries in Europe, the Americas and Asia, CeramTec has an international footprint both as a producer and a supplier. The company has its headquarters in Plochingen near Stuttgart, Germany, generating revenues of over EUR 500 million in 2017. CeramTec has over 3,400 employees around the world, including around 2,000 in Germany.
If any statements in this press release contain forward-looking statements, such statements do not represent facts and are characterized by the words "will", "expect", "believe", "estimate", "intend", "aim", "assume" or similar expressions. Such statements are not based on historic facts and express the intentions, opinions or current expectations and assumptions of CeramTec. Such forward-looking statements are based on current plans, estimates and forecasts but do not claim to be correct in the future. Forward-looking statements are subject to risks and uncertainties that are difficult to predict and usually cannot be influenced by CeramTec. Actual events or consequences may differ materially from those contained in or expressed by such forward-looking statements.
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