Concentric AB: Andreas Wolf appointed Senior Vice President of Europe and Rest of World at Concentric

Regulatory News:

Concentric AB (STO:COIC):

Dr. Ing. Andreas Wolf has been appointed Senior Vice President of Europe and Rest of World (RoW) at Concentric AB, with responsibility for operations in the UK, Sweden, Germany, China and India.

Andreas joined the Concentric Group as Managing Director of Licos Trucktec GmbH in June 2013 when Licos was acquired by Concentric. He had held that position since his appointment in 1998, making a major contribution to growing and developing the business.

David Woolley, CEO of Concentric commented: "Andreas has played a key role in the successful integration of Licos within the Concentric group, while also providing a valuable input on other parts of the company.”

Andreas Wolf is a qualified engineer and has held senior positions at ZF Luftfahrttechnik GmbH and ZF Friedrichshafen AG. He also sits on the German VDA council as a representative of the automotive suppliers.

Andreas replaces Dermot Sterne who has decided to leave the company to pursue other interests.

About Concentric

Concentric is an innovator in flow control and fluid power, supplying proprietary systems and components for trucks, buses and industrial vehicles, worldwide. The company encompasses two technology/product areas, hydraulics and pumps for diesel engines. The hydraulics range is supplied under the Haldex brand name and the pumps are branded Concentric.

With over 1,000 employees and yearly sales of approximately 2 billion Swedish Kronor, Concentric AB is listed on the Stockholm Stock Exchange (www.concentricAB.com).

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