The establishment of new subsidiaries, penetration into new markets and strengthening of its presence in existing ones are the goals of Kleemann Group for the current year.

As reported by the company's president, Mr Nikolaos Koukountzos in today's Ordinary General Meeting of shareholders, in order to overcome the present crisis of the Greek market, it is essential to further internationalize the group operations and broaden the customer base. It is expected that the two new production facilities in China and Serbia that will begin operations during summer, as well as the company's participation in major international exhibitions such as in Guangzhou in China, will contribute towards this direction.

Furthermore, the Group participated in the largest conference worldwide called Elevcon, held in Miami in the U.S. where it presented its new application for smartphones (Lift Tester) and its new energy lift Green Edition.

General meeting

Meanwhile, during the Meeting that took place with the participation of 75.4% of the company's share capital, there was a unanimous approval of the Company's Annual Financial Statements, for the fiscal year 01.01-31.12.2011, as well as of the Board of Directors' and the Auditors' Reports for the same period.

Also, the General Assembly approved the repositioning of members of the Board which was in effect since 01/01/2012. The Vice President Mr Menelaos Koukountzos resigned from his position as CEO, retaining his position as Vice Chairman. Consequently, new CEO was appointed the member of the Board Mr Konstantinos N. Koukountzos, while the latter's position as general manager was appointed to Mr Nikolaos N. Koukountzos.

For the fiscal year 2011, the Board of Directors does not intend to propose a dividend distribution.