MOVES: Wacker re-elects Peter-Alexander Wacker as chairman

08 May 2013 15:06  [Source: ICIS news]

LONDON (ICIS)--Wacker Chemie’s supervisory board on Wednesday unanimously re-elected Peter-Alexander Wacker as the group’s chairman at its constituent session, held directly after the Munich-based chemical group's 2013 annual shareholders’ meeting.

At the annual shareholders’ meeting, company CEO Rudolf Staudigl reaffirmed sales and earnings projections for fiscal 2013.

Wacker continues to expect sales to come in at last year’s level of €4.63bn ($6.10bn), while earnings before interest, taxes, depreciation and amortisation are likely to be below the prior-year figure of €787m, mainly because of lower polysilicon prices.

According to Staudigl, Wacker intends to intensify its expansion in emerging economies, such as Brazil, China, India and southeast Asia. This strategy, he said, is driven primarily by rising living standards in these countries.

($1 = €0.76)

By: Franco Capaldo
+44 (0)20 8652 3214

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