By Editors of Power Engineering
Clyde Bergemann Power Group announced a series of management changes that will take effect March 1.
The new president and CEO will be Dr. Christian Mueller, succeeding Franz Bartles. The company hopes to build an even stronger focus on systems to boost process efficiency and develop innovative products in a rapidly changing energy market.
Mueller joined Clyde Bergemann ten years ago with responsibility for new technologies and has served as managing director for Germany since 2013.
Additionally, Qiang Xu acquired the shares of majority owner Deutsche Beteiligungs AG and other shareholders in April 2016, and he and his family office now holds 100 percent of the company.
As part of the ownership change, the group’s balance sheet was strengthened with a capital increase of $180 million in new syndicate financing supported by Commerzbank, Nord LB, HSH Nordbank and insurers Swiss Re and Zurich.
The capital increase financed the December acquisition of RPT Asia Ltd., a China-based manufacturer of systems for flue gas desulphurization.
"With the new finance, we are now even better placed to align the business with changing market conditions and refocus the Group,” said incoming CEO Mueller. “I am excited about the tasks ahead and will together with the management team do the utmost to develop Clyde Bergemann successfully."