Goltens Names New President and Board Director

Goltens announced that Paul F. Friedberg has been named as the company's new President of Worldwide Service and has been chosen to serve as director of Goltens' Worldwide Board. Friedberg, who previously served as Goltens' regional head in the Middle East & India, will be responsible for all Goltens' service and trading operations outside the United States including Europe, the Middle East, the Far East and China. In addition, he will be responsible for global business development activities (including activities in the United States), and will continue to manage Goltens' day-to-day operations in the Middle East & India until a successor is identified. According to Mark Rutkowski, Goltens' Managing Director & Chief Financial Officer, Friedberg brings to Goltens vast experience, knowledge and considerable managerial skills in the shipbuilding, ship repair, oil & gas and mechanical markets.

The company said that managing the boards' mandate to grow by expanding in new geographic regions and through new product & service development is one of Friedberg's priorities and challenges. Goltens focus on meeting increased customer demand lies at the centre of the company's efforts to gain market share in the global marine repair, land-based diesel engine and trading industry segments. Friedberg, who has overseen Goltens' highly successful operation the Middle East & India, remains confident about the future. "Goltens' strong brand will continue to serve as an excellent platform on which to grow the company and meet the new and exciting challenges we face in our changing industry," he says. Friedberg joined Goltens in June 2002 as Vice President Business Development where he was responsible for identifying, quantifying and targeting Goltens' market in the marine and land-based diesel power sectors. Friedberg quickly identified several business development opportunities and investments which resulted in efficiently executed expansion programs. In June 2003, Friedberg was promoted Managing Director Goltens Dubai where he swiftly implemented broad based organizational improvements resulting in and operational efficiencies and enhanced financial results. To strengthen these improvements, he recruited a new multi-cultural management team and launched a series of commercial and other growth-oriented initiatives resulting in increased sales, profits and improved market share in the marine repair, land-based power generation, offshore and trading markets. Thanks in part to Friedberg's dynamic leadership, Goltens Dubai and its five satellite facilities are well-positioned for sustained growth in the Middle East markets.