Pfleiderer CEO Injured in Auto Accident

Neumarkt, Germany, February 23, 2007--It is reported that Hans H. Overdiek, head of German engineered wood and infrastructure technology manufacturer Pfleiderer, has been badly injured in a car accident, and it is uncertain how long he will be absent from the company.

The supervisory board has agreed that Overdiek's responsibilities be taken over by the other three board members. The incident occurs at the peak of Pfleiderer's expansion through acquisitions and restructuring through the sale of non-core business.

The company's key figures for 2006 are due to be announced on Wednesday. Pfleiderer attained turnover of 1.4bn euros in 2006, which is expected to grow to over 2bn euros by 2008 with the inclusion of takeovers. In mid-January, Pfleiderer announced the takeover of Swedish laminate flooring manufacturer Pergo for around 300m euros. The acceptance term for exchanging Pergo shares ends on Friday, and Pfleiderer will only take over the company if at least 90 per cent of Pergo's shareholders sell their shares.