Regulatory News:
Alfa Laval (STO:ALFA)
Alfa Laval – a world leader in heat transfer, centrifugal
separation and fluid handling – today announces the first step of
its new strategic direction to lift organic growth. A new
organization structure, with industry-oriented business divisions,
will be formed; the Marine division, the Food & Water division
and the Energy division. The new strategic direction is a long-term
commitment which will also include short-term initiatives
addressing the need to adapt to prevailing market conditions.
The strategic direction Alfa Laval has enjoyed an overall strong
development for a long period of time thanks to solid market
positions and a successful M&A program. During recent years the
organic growth has, however, been below expectations. The strategic
review focuses on getting the company back on a solid growth path
and to manage the short-term challenges caused by the weaknesses in
the oil & gas and marine sectors.
"The new strategic direction will put us in a better position to
identify and capture organic growth opportunities,” says Tom
Erixon, President and CEO of the Alfa Laval Group. “It will also
increase competiveness and build the strength necessary to succeed
in a slow market”.
The new strategic direction rests on three pillars: customers,
products and services.
· Improve customer interaction - the purchasing process must be
as convenient and responsive as possible for customers. To make
this happen, a new organization structure will be formed, with the
main objective to create speed in the customer interaction through
clarity and accountability. Another important element is being more
selective in terms of market and application presence. Alfa Laval’s
resources can then be dedicated in a more efficient way – targeting
fewer areas with clear growth opportunities.
· Build on our technological strengths – the three key
technologies and core products groups continue to be the backbone
of Alfa Laval. The new strategy will for instance put increased
focus on supporting customers to achieve improved energy efficiency
and environmental performance. Another area involves further
exploring the opportunities associated with digitalization, in
order to deliver additional value to customers.
It also includes important measures to strengthen R&D, such
as the decision to invest in a new development laboratory for
high-speed separators in Sweden. Together with other measures, the
development time for the next generation separators will be
significantly reduced and performance in the development process
will be improved.
· Further grow the service offering – service is an integral
part of Alfa Laval’s offering and of high importance to most
customers. The company will continue to develop its service
culture, offering, and presence. Examples of recent decisions to
expand the service capability include the opening of new service
centers in Iran, Angola and California, USA. They will all open
during 2016.
An organization to support the strategic direction
In order to drive the development and deliver results a new
organization will be launched January 1, 2017. It will be based on
three industry-oriented business divisions; the Marine division,
the Food & Water division and the Energy division. The
divisions will consist of product-based business units. Operations
will remain a common supply chain, but with closer ties to the
business unit structure. The three regional sales functions will be
consolidated into one Global Sales & Service organization.
“Forming the Marine division back in 2011 was a successful move.
Now we follow up with a Food & Water division and an Energy
division”, says Tom Erixon.
The new structure will result in a smaller Group Management,
going to 9 from 11 members. Three group management members retire;
Ray Field - Asia, G�ran Mathiasson - Operations and Svante Karlsson
- Process Technology. Mikael Tydén will replace G�ran Mathiasson as
head of Operations. Several of the remaining members of group
management will get new roles. (The new group structure as well as
well as photos can be found at http://www.alfalaval.com/investors
as related material to the news release.)
The new strategic direction is a long-term commitment which will
also include short-term initiatives addressing the need to adapt to
prevailing market conditions. More detailed information about the
different initiatives will be released gradually. Complete
information about the strategic review is expected to have been
given latest in conjunction with the Alfa Laval Capital Markets
Day, November 22, 2016.
“Alfa Laval has always supported its customers in a consistent
way, delivering solutions that make their operations more efficient
and more sustainable,” says Tom Erixon. “Going forward, the
customers will find it even easier to do business with us and our
employees will recognize that Alfa Laval is an exciting place to
be.”
Alfa Laval will host a telephone conference on August 30 at
09:30 a.m CET
To join the telephone conference – hosted by Alfa Laval’s
President and CEO Tom Erixon, and Thomas Thuresson, CFO – sign up
via the link below. Once registered, you will receive a phone
number, a participant pin and a conference pin. Please dial in 10
minutes prior to the schedule start of the event. If you are having
difficulties registering, contact Intercall at +44 20 8288
5566.
https://eventreg2.conferencing.com/webportal3/reg.html?Acc=027199&Conf=222510
You can also follow the conference via a live webcast. A webcast
link will be available on www.alfalaval.com/investors.
If you want to listen to the replay, call +44 (0)20 7031 4064 or
+46 (0)8 5052 0333, conference code 95 99 03. The recording will be
available for 24 hours. After that, you can go to
www.alfalaval.com/investors and watch and listen to an
on-demand version of the webcast.
About Alfa Laval
Alfa Laval is a leading global provider of specialized products
and engineering solutions based on its key technologies of heat
transfer, separation and fluid handling.
The company’s equipment, systems and services are dedicated to
assisting customers in optimizing the performance of their
processes. The solutions help them to heat, cool, separate and
transport products in industries that produce food and beverages,
chemicals and petrochemicals, pharmaceuticals, starch, sugar and
ethanol.
Alfa Laval’s products are also used in power plants, aboard
ships, oil and gas exploration, in the mechanical engineering
industry, in the mining industry and for wastewater treatment, as
well as for comfort climate and refrigeration applications.
Alfa Laval’s worldwide organization works closely with customers
in nearly 100 countries to help them stay ahead in the global
arena. Alfa Laval is listed on Nasdaq OMX, and, in 2015, posted
annual sales of about SEK 39.7 billion (approx. 4.25 billion
Euros). The company has about 17 500 employees.
www.alfalaval.com
This information is information that Alfa Laval AB (publ) is
obliged to make public pursuant to the EU Market Abuse Regulation
and the Securities Markets Act. The information was submitted for
publication, through the agency of the contact person set out
below, at CET 08:30 on August 30, 2016.
This information was brought to you by Cision
http://news.cision.com
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160829006113/en/
Alfa LavalPeter TorstenssonSenior Vice President,
CommunicationsTel: + 46 46 36 72 31orThomas ThuressonCFOTel: +46 46
36 72 40
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