KHDH Khd Humboldt Wedag International Ltd. (MM)

HONG KONG, Feb. 22 /PRNewswire-FirstCall/ -- KHD Humboldt Wedag International Ltd (NASDAQ:KHDH) announced the appointment of Jim Busche, 47, as its new Chief Executive Officer and President. Mr. Busche will assume these responsibilities in March 2006. Mr. Busche succeeds Michael Smith, 58, who will remain with the Company as Chairman of the Board. Mr. Busche joins KHD Humboldt Wedag from Dorr-Oliver Eimco, which is a part of Montreal-based Groupe LaPerriere & Verrault Inc (GL&V). Dorr-Oliver Eimco was acquired by GL&V in 2002. At GL&V Mr. Busche served as Vice President and Managing Director (Asia). GL&V provides highly engineered capital equipment to the process industries on an international scale, and has annual revenues in the range of $725 million. During his time with GL&V, Mr. Busche was responsible for expanding sales in Asia and establishing the firm in India, moving North American and European manufacturing to India, China and other low-cost suppliers with improved quality and on-time results. His work has included startups, acquisitions and the management of change. Prior to his tenure with GL&V, Mr. Busche was with Baker Process, a Salt Lake City-based subsidiary of Baker Hughes Inc, in custom engineered capital equipment. Mr. Busche has worked in various areas of the world, including his native USA, as well as Europe, the Middle East, Asia and Southeast Asia. Mr. Smith, Chairman of KHD Humboldt Wedag International Ltd., commented, "We conducted an extensive search for an ideal candidate to lead KHD Humboldt Wedag International, and we have found an extraordinarily well-qualified CEO in Jim Busche. Jim's experience is of exceptional value to KHD as the customer dynamics are close, the delivery challenges similar, and the markets involved were moving to developing nations. Transformation is required to develop economies, meet customers' increasing scope requirements and cope with increasing cost pressures. Jim has the full support of the Board to build on his past success and lead the globalization initiatives of our firm through internal transformation and acquisition. We look forward to working with him as he grows the company and increases shareholder value." About KHD Humboldt Wedag International Ltd KHD Humboldt Wedag International Ltd owns companies that operate internationally in the engineering services industry, and specializes in the cement, coal and mineral engineering services industries. This spring Humboldt Wedag will celebrate its 150th anniversary. To obtain further information on the Company, please visit our website at http://www.khdhumboldt.com/. Contact Information: Allen & Caron Inc Joseph Allen (investors) (212) 691-8087 or Len Hall (media) (949) 474-4300 Rene Randall KHD Humboldt Wedag International Ltd (604) 683-8286 DATASOURCE: KHD Humboldt Wedag International Ltd CONTACT: Investors, Joseph Allen, +1-212-691-8087, , or Media, Len Hall, +1-949-474-4300, , both of Allen & Caron Inc, for KHD Humboldt Wedag International Ltd; or Rene Randall of KHD Humboldt Wedag International Ltd, +1-604-683-8286, Web site: http://www.khdhumboldt.com/

Copyright